IndiaAI Mission's three indigenous AI models target offline mobile access, secure use in critical sectors

Three indigenous artificial intelligence (AI) models launched under the Centre's IndiaAI Mission are being developed for applications ranging from offline access on mobile phones to secure use in critical sectors such as defence, cybersecurity and banking.

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Canva to cut about 22% of staff as growth slowdown triggers restructuring

Australian graphic design platform Canva Group said on Wednesday it would cut 1,271 jobs, or about 22% of its workforce, as part of a restructuring after growth slowed for the first time in a decade.

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Premji's deeptech bets; Razorpay gets IPO nod

Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.

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Anthropic says revenue surged 1,100% ahead of IPO

Anthropic, one of the world's leading artificial intelligence companies, on Monday reported a more than 1,100 percent surge in quarterly revenue and nearly $900 billion in spending commitments as it counts down to its Wall Street listing later this month. The filing said the company has committed to spend about $895 billion, mostly on computing power, with $70 billion of that due before September 2027.

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Apple beats sales and profit expectations but AI costs weigh on holiday sales

Apple exceeded analysts' expectations for its latest results on Monday when the iPhone-maker said it notched a "revenue record" for the July-September quarter, driven by iPhone sales and services revenue, but increased costs related to AI will drag down margins. This includes primarily the impact of higher memory costs, as well as some costs related to the ramp of Siri AI," Parekh said.

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OpenAI’s India user base doubles; Rapido GOV quadruples

Happy Tuesday! India has become ChatGPT’s largest market globally, with its user base doubling. This and more in today’s ETtech Morning Dispatch.

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South Korea's Lee vows to make bold AI investment in record budget push

His administration proposed in September increasing government spending by a record 12.8% next year to 820.9 trillion won ($615.62 billion) aiming to strengthen South Korea's technological edge as global competition over AI intensifies.

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Fintechs fortify cyber defences; Logistics cos in the speed lane

Happy Monday! Fintechs are stepping up security as AI-powered cyberattacks become more sophisticated. This and more in today’s ETtech Morning Dispatch.

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Festive spending drives record UPI transactions in October

Festive spending pushed UPI transactions to a record 25.47 billion in October, up 23% year-on-year, while transaction value rose 16% to a record ₹31.53 lakh crore, according to NPCI data. Average daily transaction value crossed ₹1 lakh crore for the first time, driven by festive shopping, dining and online sales.

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OpenAI cuts funding target by $10 billion: FT

AI startup OpenAI has slashed the target for its latest funding round by $10 billion and is now seeking to raise $20 billion at a $1.25 trillion valuation, the Financial Times

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Bitcoin, cryptocurrency prices fall after Binance reports security issue

Cryptocurrency prices fell on Friday after Binance reported a potential security issue and said more than $2.5 billion in assets had been frozen. Bitcoin dropped to a six

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