Z47 managing director Tarun Davda to exit firm amid string of top-level departures at VC funds

Tarun Davda, a key figure at Z47 for ten years, plans to exit the venture capital firm by year-end. Sources told us that Davda is exploring launching his own fund or returning to entrepreneurship. This departure follows other senior exits at Z47 and mirrors broader churn in India's venture capital sector.

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Here to win quick commerce, will become market leader in near-term: Samir Kumar, Amazon India chief

Amazon is planning to aggressively expand its 10-minute delivery service, Amazon Now, aiming for market leadership despite moderating quick commerce growth. The ecommerce giant plans to launch in over 100 cities with 1,000 dark stores, emphasising customer experience, wide selection, and speed to compete with rivals like Blinkit and Zepto.

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OpenAI plans ChatGPT 'superapp' overhaul ahead of listing, FT reports

The ​changes ​are part ⁠of a broader reorganisation at ​OpenAI, as it shifts ​resources to target lucrative enterprise clients and intensify competition ‌with rival Anthropic, the report said, ​citing ​more ⁠than a dozen current and former employees.

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Rupee slide pushes overseas students back to lenders for top-up loans

A significant rupee depreciation has forced Indian students studying abroad to seek top-up loans from lenders, as initial loan amounts fall short of rising tuition and living expenses. This has led to a nearly threefold increase in demand for additional funding, with students requiring Rs 1-6 lakh more.

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White House AI policy adviser Krishnan to leave position: Report

Sriram Krishnan, a White House AI policy adviser, is set to depart his role by June's end. He is reportedly considering establishing a new policy institution. This venture aims to bolster the Trump administration's future AI initiatives. The institution is expected to be staffed by engineers. This move signals a significant shift in AI policy focus.

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Donald Trump says his team will 'look into' US taking stake in AI companies

Digital news outlet NOTUS reported on Thursday that senior U.S. ​officials held preliminary discussions with AI companies about the potential for the government to buy ​some shares in their firms.

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IT secretary signals stricter government controls for AI, biometric devices

India is prioritising strategic autonomy and control over AI and biometric hardware, following global trends. Concerns over trusted sources for IoT devices and potential espionage are driving this focus. Mandates for CCTV and telecom equipment highlight the government's commitment to securing digital public infrastructure.

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Meta weighs big equity raising to finance AI infrastructure: FT

Meta ​is ​considering raising tens of ‌billions ⁠of ⁠dollars ​in a stock ​offering as ​it ⁠seeks new ‌sources ​of ​capital ⁠to fund the ​company's AI ​ambitions, according to a report by the Financial ‌Times.

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NASA reverses evacuation alert order for astronauts aboard space station

Five astronauts on the International Space Station prepared for evacuation Friday due to a worsening air leak. Russian experts worked to seal two leaks, with one already fixed. The situation escalated from a minor leak to a more significant one. NASA and Roscosmos are collaborating on a solution. This incident highlights the ongoing challenges of maintaining the orbital laboratory.

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RBI clears Myntra's FEMA violations after penalty payment; ED closes investigation

The Reserve Bank of India has closed an Enforcement Directorate investigation into Myntra Designs Private Limited. This action follows the RBI compounding certain Foreign Exchange Management Act violations. The company faced allegations of delays in submitting overseas investment reports and undertaking commitments before compliance. The RBI imposed a one-time monetary penalty, resolving the matter and concluding the probe.

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FirstClub raises $55 million from Peak XV, Sofina; valuation doubles to $255 million

Quality-focused grocery delivery startup FirstClub has secured $55 million in a Series B funding round led by Peak XV Partners and Sofina, valuing the company at $255 million. The capital will fuel expansion into new cities, enhance supply chain and technology, and broaden product categories.

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