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According to the Fintech India report released by data intelligence platform Tracxn, funding during the January-March quarter dried up year on year across stages, with seed stage down 77% to $9.9 million, early stage down 42% to $147 million and late stage falling 60% to $394 million, compared to the previous year.
Google Cloud introduces Axion, a custom Arm-based CPU, to enhance data centre AI capabilities, competing with AWS and Microsoft. Axion targets various processes and aims to attract a range of high-profile customers.
Meta said on Thursday it was developing new tools to protect teenage users from "sextortion" scams on its Instagram platform, which has been accused by US politicians of damaging the mental health of youngsters. The legal filing alleged Meta had exploited young users by creating a business model designed to maximise time they spend on the platform despite harm to their health.
Tesla mechanics strike in Sweden continues, drawing investor scrutiny and disrupting operations. IF Metall remains in dispute with Tesla over collective agreement, impacting Nordic investors and Tesla's operations in the country.
Over the past few months, the company has laid off hundreds of staff in divisions including Amazon Web Services, Prime Video service, healthcare business and Alexa voice assistant unit, extending its massive job cuts over the past two years into 2024.