Tech5: Alibaba's Joe Tsai warns of data centre bubble, zinc alternative to Li-ion batteries, nanotech conference, and more
Forbes India's daily tech news bulletin with five headlines that caught our attention
Alibaba’s Joe Tsai warns of potential AI data centre bubble
Alibaba Chairman Joe Tsai warned of a potential bubble in data centre construction, suggesting that the rapid pace of buildouts might exceed current demand for AI services, Bloomberg reported from the HSBC Global Investment Summit in Hong Kong earlier today. He criticised the indiscriminate rush by tech firms and investors to construct server bases without clear customer demand.Critics of the ongoing AI goldrush have pointed out the lack of real-world AI applications and the unsustainable spending by companies like Microsoft, Amazon, and Alphabet, who have pledged billions for AI infrastructure. Tsai raised concerns over data centre projects being funded without securing uptake agreements and cautioned that these investments are being made ahead of actual demand, potentially leading to a bubble.
PsiQuantum raising $750 million at $6 billion valuation
PsiQuantum, a quantum computing startup, is raising at least $750 million, led by BlackRock, at a $6 billion valuation, Reuters reported exclusively. The company, using existing photonics technology, aims to mass-produce quantum chips at GlobalFoundries' New York factory. Quantum computing promises to solve complex problems, potentially revolutionising fields like materials science and pharmaceuticals.Recently, major tech firms such as Google's Alphabet, Microsoft, Amazon, and Nvidia, have made advancements in quantum computing. PsiQuantum is collaborating with the Australian and US governments to build quantum computers in Brisbane and Chicago, aiming for a useful machine by 2029 or sooner. Quantum computers have long existed but are only now nearing practical applications.
Zepto in talks for $250 million secondary sale ahead of IPO
Indian quick commerce venture Zepto is in talks for current stockholders to sell as much as $250 million of their equity, Bloomberg reported on March24, citing people with knowledge of the plan.Last Updated :
March 25, 25 10:43:10 AM IST