IBM’s Stock Crash Reignites Fears of A.I. Disruption in Software Sector - The New York Times

• South Korea's AI stock boom has shifted into a market rout, highlighted by a significant plunge in SK Hynix shares that triggered billions in stock sales. • The decline has deepened the slide of the Kospi index, exacerbated by high levels of leverage and concentrated index weightings that amplified volatility.

• Chinese AI start-up DeepSeek is in talks with investors for a new financing round targeting a pre-investment valuation of approximately US$70 billion. • This follows a landmark Series A round closed in June, which raised about US$7 billion and valued the Hangzhou-based firm at nearly US$60 billion.

• DeepSeek founder Liang Wenfeng has reached a net worth of $36 billion, surpassing all Western AI creators following a funding round in June. • The company announced plans for a Chinese IPO in 2027, confirming that China’s state AI fund holds the sole investor vote in its governance structure.

• The Star Market 50 Index experienced a 10% decline over a two-week period, signaling a sharp pullback in Chinese technology stocks. • Analysts from UBS and HSBC Jintrust characterize this drop as a "temporary blip" rather than a long-term trend.

• IBM experienced its most significant stock sell-off in 40 years, with shares plummeting approximately 25% in a single trading day. • The crash triggered a ripple effect across the sector, causing price dips for direct competitor Accenture and partner ServiceNow.

• Chinese AI startup DeepSeek is in talks to raise $1.5 billion at a valuation of $71 billion, following a previous $7 billion funding round. • The deal is backed by major investors, including Tencent and a state-led AI fund from Beijing, signaling strong domestic support.

• An Indian tech professional successfully secured a new position within 15 days after being laid off due to AI-driven company restructuring. • The individual utilized a referral-based job search strategy, which has since gone viral as a blueprint for other displaced workers.

• India is integrating artificial intelligence into its healthcare system to improve diagnostic access, specifically through the use of AI-driven medical scans and eye disease detection. • A tool developed by the Bengaluru-based company Remidio allows healthcare workers with limited specialist training to perform initial eye screenings, expanding reach to underserved areas.

• The Indian government unveiled a massive Rs 1.27 lakh crore strategic plan to bolster the domestic semiconductor industry. • AI startup Emergent achieved unicorn status, while Ather Energy approved a preferential fundraise from Hero MotoCorp, the India-Japan Fund, and its founders.

• IBM experienced its worst stock crash in 58 years, resulting in a $70 billion loss in market value following comments from CEO Arvind Krishna regarding the company's AI shortcomings. • The company reported stagnant growth for the quarter ending in June, with revenue increasing by only one percent to $17.2 billion.

• DeepSeek, the Chinese AI firm known for disrupting the global AI market, has entered preliminary talks with investors for a new funding round. • The company aims to secure capital to expand its computing infrastructure, construct new data centers, and acquire AI chips to support more powerful models.

• Chinese AI stocks experienced a rise following reports that DeepSeek, a prominent AI startup, is seeking an initial public offering (IPO) this year. • DeepSeek is identified as one of China’s “AI Tigers,” a select group of startups currently leading the nation's artificial intelligence development efforts.