Among many companies that have been caught extolling the virtues of ChatGPT-like advances.

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today: A new round of job layoffs at Morgan Stanley may result in 3,000 losses.

Fast-Track Insights: Bhutan collaborates with Bitdeer to mine crypto.

Of the many recorded organizations hyping up the capability of ChatGPT-like innovations, Chegg Inc. is among the quick to freely state exactly the way that injurious the pattern could be for its business. Even though management appears prepared to ride this innovation rather than swim against it, it need not be. Chegg bills itself as a "connected learning platform that puts students first." With just $767 million in revenue last year, it is nowhere near the size of the giants like Alphabet Inc., Microsoft Corp., and Amazon.com Inc. that have embraced AI.

Morgan Stanley is intending to lay off around 3,000 representatives from the worldwide labor force amid downturn fears. By the end of this quarter, a new round of layoffs is probably going to take place. This would be about 5% of the workforce in the wealth management division, excluding financial advisers and support staff. The banking and trading group currently has approximately 82,000 employees. People familiar with the situation told Bloomberg that Morgan Stanley is anticipated to bear the majority of the reductions, even though there is no official confirmation at this time.

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Druk Holding & Investments, a state-owned investment company in Bhutan, has formed a partnership with Nasdaq-listed Bitdeer Technologies Group to establish a $500 million fund to foster environmentally friendly cryptocurrency mining in the Himalayan nation. A joint announcement made on Wednesday stated that the fundraising effort, which is aimed at institutional investors, will begin at the end of May to establish carbon-neutral digital mining facilities powered by Bhutan's abundant hydroelectric resources. In an interview, Ujjwal Deep Dahal, CEO of Druk Holding & Investments, said that concentrating on Bitcoin mining was the least risky way for Bhutan to profit from the cryptocurrency market.