Rare earth shortage hits electronic component companies

While applications under the scheme have surged past 110 now, at least 10 firms have sounded out worries at a time when the industry is keen on expanding its production and export footprint, officials at the Ministry of Electronics and Information Technology (MeitY), and industry executives told ET.

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Cloud kitchen firm EatClub to raise Rs 185 crore from Tiger Global, A91 Partners, 360 One

According to filings with the Registrar of Companies, the company will use the funds for growth and expansion. The company, which runs brands such as Faasos and Behrouz Biryani, also saw a top-deck recast, with founder and CEO Jaydeep Barman transitioning into the chairman’s role—being replaced by founder Ankush Grover as chief executive.

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Setu strengthens top deck with senior execs from Razorpay, PhonePe, Wibmo

Pine Labs-owned fintech appoints Anand Raisinghani as CEO, brings in former leaders from Razorpay, Clear, and PhonePe across key roles.

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In earnings season, it's AI good, everything else, not so much

The AI spending surge is providing a big boost for semiconductor and software giants like Google parent Alphabet , while companies from airlines to restaurants and food manufacturers are struggling to navigate an erratic U.S. trade policy which is boosting costs, upending supply chains and hurting consumer confidence.

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Grok steps into prediction markets with xAI, Kalshi partnership

Kalshi is now partnering with Elon Musk's artificial intelligence company xAI to integrate Grok, xAI's advanced chatbot, into the prediction market experience.

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Infosys profit surges 8.7% on deals, Europe show

Infosys raised its lower-end growth forecast for the fiscal, with revenue expected to expand between 1% and 3% from the earlier 0-3%. The company is also gaining from increased adoption of artificial intelligence, top executives said. AI programmes are improving productivity between 5% and 15% and this is being partly passed on to customers, according to CEO Salil Parekh who struck an optimistic note at the company’s post earnings call on Wednesday.

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AI startup Olto raises $5.1 million from Nexus Venture Partners, The General Partnership

Afore Capital, Recall Capital, Ligature, FirstHand, and senior executives from companies like Amazon participated in the round. The fresh funds will be used to build new AI agents and scale its operations. Olto, which currently serves clients in the US, UK, and Canada, plans to expand into India.

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Europe revival helps IT survive quarter shocks

HCLTech, LTIMindtree, and Tech Mahindra gained new business from European clients, marking a revival for the region after three quarters of deal slowdown. Overall revenues in these companies rose in low single digits in the three months ended June.

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SpaceX warns investors Elon Musk could return to US politics, Bloomberg reports

The company added the language laying out such "risk factors" in paperwork sent to investors discussing a tender offer, according to Bloomberg.

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Telegram introduces built-in crypto wallet, bringing its users into mainstream blockchain

The Open Network (TON) is a decentralised, layer-1 blockchain platform developed by the Telegram team, led by the Durov brothers, to create a highly scalable and user-friendly blockchain ecosystem integrated with the Telegram app.

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New-age travel accessories platform Escape Plan raises $5 million from Jungle Ventures, Fireside Ventures

Launched in May 2025, the Bengaluru-based company sells travel bags and accessories for everyday as well as vacation travel. The fresh funds will be used to expand its retail footprint, acquire customers, and launch its quick commerce services.

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UK and ChatGPT maker OpenAI sign new strategic partnership

The government has set out plans to invest 1 billion pounds in computing infrastructure for AI development, hoping to increase public compute capacity 20 fold over the next five years.

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Lawmakers want US tech CEOs to address concerns about submarine cables

Washington has been raising alarm about the network of more than 400 subsea cables that handle 99% of international internet traffic. The letter was signed by Representative John Moolenaar, who chairs a House panel on China and two other Republicans.

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IT companies tighten belt as AI, macro headwinds squeeze biz margins

The fiscal first quarter showed companies are stretching all internal levers aggressively to protect profits amid slowing large-deal momentum. This includes lowering selling, general and administrative expenses (SG&A) costs, delaying pay hikes, and rejigging bench policies. Analysts expect the trend to continue through the fiscal second half as the IT sector is turning into a "negotiator's market".

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New high tech incubators to get millions in funding

The Israel Innovation Authority (IIA) launched a competitive proceeding to establish new high-tech incubators with up to a 40 million Shekel (USD 11.9 million) investment per Incubator.

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Musk says xAI will make kid-friendly app 'Baby Grok'

Elon Musk’s AI firm xAI is set to launch "Baby Grok," a separate, kid-friendly chatbot app. Announced via Musk’s X post, the move follows efforts to enhance Grok’s features and public image. It comes amid xAI’s rapid AI expansion, including Grok 4’s debut and government-focused product offerings.

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Eight chipsets designed by IIT students sent to fabs: IT Minister Vaishnaw

Indian Institutes of Technology (IITs) students have designed 20 chipsets, with eight already sent for fabrication, signaling significant progress in domestic semiconductor development. The first commercial-scale, made-in-India semiconductor chip is expected this year, supported by government initiatives like the India Semiconductor Mission and AIKosh. India's electronics exports have surged, marking substantial growth in the sector.

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Their water taps ran dry when Meta built next door

Meta's data center in Newton County, Georgia, is linked to water problems. Beverly and Jeff Morris faced dry taps and sediment issues. Local wells are damaged, and water costs are soaring. Newton County may face a water deficit by 2030. Data centers consume vast amounts of water. The county is upgrading recycling facilities.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Future-proofing of jobs: Mid-career pros rewire skills to ride AI current

TeamLease reported over 60% growth in enrolments for micro-credential courses this year, while Simplilearn noted growing demand from professionals in their 30s and 40s seeking domain pivots or deeper specialisation. Online learning platform Coursera also reported that 39% of its learners are career switchers, drawn by the promise of better growth, pay, and job security.

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Clothing tech entrepreneur charged with $300 million fraud in US

Authorities said Christine Hunsicker, 48, of Lafayette, New Jersey, promoted CaaStle to investors as a more than $1.4 billion "Clothing-as-a-Service" business that helped companies rent apparel to consumers with an option to buy, despite knowing it was financially distressed and short of cash.

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OpenAI unveils ChatGPT agent to handle tasks as AI apps evolve

AI agents - considered to be an evolution of an assistant - have been embraced across the tech world with large firms, including Microsoft, Salesforce and Oracle, spending billions on the technology to boost productivity and make operations more cost efficient.

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Wipro Q1 net profit up 11% to Rs 3,337 crore, revenue flat

Wipro faced a compression in business in all geographies of Europe, Americas 2 and APMEA (Asia Pacific, Middle East and Africa) and business verticals such as banking, financial services & insurance and consumer in the April-June period compared with the prior quarter.

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UPI or no UPI, traders must pay GST, say authorities, promising to make GST registration smooth

The department issued a detailed statement responding to reports that sections of traders have stopped accepting payments through the UPI apps after it issued GST notices to unregistered traders whose annual UPI transactions breached the Rs 20 lakh cap in the case of services and Rs 40 lakh in the case of goods.

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Sam Altman endorses Jensen Huang’s view on AI and its impact on jobs

In a post on X, Altman noted key themes Huang has emphasised: AI will not eliminate jobs wholesale but will fundamentally change how work is done.

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Cybersecurity startup Deep Algorithm raises Rs 10.8 crore from Unicorn India Ventures

The company, which focuses on fraud prevention in the finance sector, will use the fresh funds to scale engineering and threat intelligence teams, accelerate go-to-market activities in India and Southeast Asia, expand integrations with key enterprise platforms, and enhance its behavioural AI and fraud analytics engine.

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Scoring with AI not enough to crack US enterprise code

Indian AI startups targeting US enterprises face longer sales cycles due to market saturation, buyer confusion, and evolving tech. Founders now rely on strategic investors and domain experts for customer access. Despite faster product development, trust-building and differentiation are key, prompting many to relocate or travel frequently to the US.

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Mid-year ecommerce sales spike sets the stage for cracking festive season

Ecommerce order volumes rose 19% during the July 11–14 sale, driven by strong demand in electronics, appliances, and fashion. Tier-II and III cities led growth. Brands saw up to 8x sales spikes, prompting festive season preparations. The momentum signals recovery after last year’s slowdown, boosting industry optimism for Diwali.

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Crypto-focused Grayscale confidentially files for potential US listing

The move coincides with the start of the "crypto week" in Washington, where lawmakers are set to debate three major bills that could offer long-awaited clarity to the industry. Investor enthusiasm around the bills, which are expected to pave the way for digital assets to potentially be further integrated into traditional finance, has pushed bitcoin above $120,000 for the first time.

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Trump to unveil $70 billion in AI and energy investments

Trump is expected to share details of the new initiatives at an event outside Pittsburgh, according to an administration official, who spoke on the condition of anonymity to discuss the planning. Investments from a range of companies will include new data centers, power generation expansion and grid infrastructure upgrades, along with AI training programs and apprenticeships, an official said.

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US defense department awards contracts to Google, Musk's xAI

The contracts will enable the DoD to develop agentic AI workflows and use them to address critical national security challenges, the department's Chief Digital and Artificial Intelligence Office said. "The adoption of AI is transforming the (DoD's) ability to support our warfighters and maintain strategic advantage over our adversaries," Chief Digital and AI Officer Doug Matty said.

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HCLTech’s first quarter net drops 10% YoY to Rs 3,843 crore, revenue up 8%

India’s third-largest software services company reported a net profit of Rs 3,843 crore in the three months ended June, historically a soft quarter for the software business. Margins fell 16.3% during the quarter amid lower employee utilisation “due to delay in implementation and ramp-down of a specific program, which resulted in a larger bench.”

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Very unfair criticism to call TCS one-trick pony: CEO K Krithivasan

TCS CEO K Krithivasan attributes recent revenue dips to global economic uncertainties impacting client spending. Despite challenges in sectors like airlines and auto, TCS remains confident, dismissing reliance on the BSNL deal as a mischaracterization. Strategic moves, including service line alignment and AI integration, aim to drive future growth and adapt to evolving IT service models.

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SpaceX to invest $2 billion in Musk's xAI startup: Report

SpaceX has invested $2 billion in xAI as part of a $5 billion equity round, strengthening Elon Musk's AI endeavors. This investment values the merged xAI and X at $113 billion, with the Grok chatbot now supporting Starlink and potentially integrating into Tesla's Optimus robots. Despite controversies, Musk touts Grok as the smartest AI, driving xAI's heavy spending on development.

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xAI apologises for Grok's offensive posts

The company said the change occurred after the chatbot was prompted to "reply to the post just like a human" as well as "tell like it is and you are not afraid to offend people who are politically correct." As a result, Grok became susceptible to users' "extremist views," which made it produce "responses containing unethical or controversial opinions to engage the user."

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The streaming wars come down to 2: YouTube v. Netflix

Netflix and YouTube are now direct rivals for TV viewing time, each commanding major audience share in the US. Once dismissive of YouTube, Netflix is now courting its creators, as both platforms push into each other’s territory. Their contrasting models reflect a broader shift in the streaming wars' next phase.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Investors powering on robotics startups

​Robotics startups in India raised $117 million in 2024 across 41 deals, compared with $54 million in 2023 and $28.8 million in 2022, according to data sourced from market intelligence platform Tracxn. This mirrors the global funding landscape, where robotics startups saw $18.6 billion in funding in 2024, a 116% increase from $8.6 billion in 2023, as per the 2025 State of Robotics report from F-Prime Capital.

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US move to lift chip software curbs on China puts India on alert

Regarding companies rethinking their ‘China Plus One’ strategy with the lifting of software curbs, Dixit said that companies considering investing in India for EDA development or other functions might choose to thoughtfully evaluate their timing. However, Shankar Krishnamoorthy, chief product development officer, Synopsys, said the company does not foresee the software export restrictions that were previously placed on China being placed on India, especially given India’s ambition to build its semiconductor ecosystem and the existing US-India collaboration in the sector.

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X slashes subscription fees in India by up to 48%

The social media firm has slashed premium account subscription fee for mobile app by about 48% to Rs 470 from Rs 900 it charged earlier on a monthly basis. The subscribers of premium and premium-plus service at X get a checkmark next to their name or ID.

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Capgemini's $3.3 billion WNS buy may revive IT-plus-BPO model

Capgemini's $3.3 billion acquisition of WNS signals a resurgence of the IT-plus-BPO model, driven by the need for AI integration. Analysts anticipate further consolidation in the BPO sector as companies seek to leverage AI for growth and digital transformation. This deal reflects a broader industry shift towards AI-led reinvention and service-as-software models.

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NPCI, Namibian Central Bank enter licensing agreement to develop a UPI-like instant payment system: MEA

During the press conference on Prime Minister Narendra Modi's visit, Dammu Ravi, Secretary (East) noted that Namibia has become the first country in the world where the National Payment Corporation of India (NPCI) and the Namibian Central Bank have entered into a licencing agreement for the usage of UPI in Namibia in real-time payments.

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OpenAI and Microsoft bankroll new AI training for teachers

The American Federation of Teachers is launching an AI training hub for educators, funded by Microsoft, OpenAI, and Anthropic, to integrate AI tools into classrooms. This initiative follows similar moves by California State University and Miami-Dade County Public Schools to adopt AI technologies like ChatGPT and Gemini.

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Meta Zoom app for Meta Quest is available today

The app brings video conferencing into virtual reality, allowing users to attend Zoom meetings in an immersive 3D environment. The move is part of Meta’s push to expand professional and collaborative use cases for its headsets.

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Smarter AI needs smarter humans

As AI grows more advanced, the need for complex, high-quality training data has surged, making data annotation a critical industry. India is emerging as a key global hub, offering skilled talent across domains. With rapid market growth and increasing sophistication, data labelling now demands deep expertise in science, tech, and language.

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Xbox producer recommends ChatGPT, Copilot prompts to laid off Microsoft staff

After Microsoft’s Xbox layoffs, executive producer Matt Turnbull suggested using AI chatbots like ChatGPT for emotional support and career guidance. In a deleted LinkedIn post, he shared prompts for job planning, resume help, and networking, aiming to ease the stress of unemployment.

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Microsoft announces public preview of deep research in Azure AI foundry

This tool aims to accelerate research and deployment of frontier AI technologies, further strengthening Microsoft's position in enterprise-grade generative AI solutions.

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Startups weigh government nod to use Aadhaar KYC for gig workers

Food delivery and e-commerce startups are seeking government approval for Aadhaar authentication to streamline gig worker verification, following a crackdown on unauthorized Aadhaar usage. Protean eGov Technologies offers a secure channel for Aadhaar access with ministry clearance, potentially simplifying KYC processes. Startups are exploring Digilocker-based verification and redirection processes to comply with regulations and ensure secure onboarding.

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AI robots fill in for weed killers and farm hands

Aigen's solar-powered, AI-driven robot "Element" autonomously weeds fields without chemicals, offering a sustainable solution to labour shortages and herbicide resistance. Designed by former Tesla engineer Richard Wurden, the robot mimics human weeding and runs on sunlight. The robot's AI system takes in data from onboard cameras, allowing it to follow crop rows and identify weeds.

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Scope for bridge between India, international startups in defence and aerospace sector: Union minister Piyush Goyal

Union Minister Piyush Goyal highlighted India's potential to link domestic and global startups in defence and aerospace. He emphasised India's emergence as a preferred supplier, driven by innovation, government support, and strong international ties. Goyal praised Bengaluru's tech sector and detailed government initiatives backing research, startups, and employment generation.

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Ban-battered bike-taxi riders say struggling to make both ends meet

Karnataka's bike-taxi ban has severely impacted Bengaluru's gig workers, slashing incomes by half. Approximately 150,000 riders are affected, forcing many into already saturated delivery services. This shift has also reduced earnings for existing food and grocery delivery workers. While some find alternatives like DriveU, many struggle to cover expenses and support families, hoping for the ban's revocation with regulated rules.

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India GCC leasing now focusing on larger spaces as demand surges: Vestian report

Office space leasing by global capability centres in India surged 24% to 31.8 million sq ft in FY25, driven by IT, finance, and engineering services. Fortune 500 GCCs leased 13.5 million sq ft, a 25% increase, highlighting India's attractiveness. While the number of lease transactions decreased, larger office spaces became more prevalent, with large transactions rising significantly.

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Good Glamm restructuring talks underway, CEO says in note apologising for salary delays

The Good Glamm Group is facing financial difficulties, leading to restructuring discussions and brand sales. Salary delays and funding struggles have caused significant strain, exacerbated by a failed acquisition deal. The company is selling assets like Sirona and ScoopWhoop, and experiencing high-profile departures and board resignations amidst cost-cutting measures and remote work transitions.

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Four banks bag bulk of UPI beneficiary payments

Yes Bank, HDFC Bank, ICICI Bank, and Axis Bank handle almost 60% of merchant UPI payments. Yes Bank has the largest share, driven by PhonePe merchants. Axis Bank and SBI have also seen growth. Banks are interested in merchant payments for revenue. They charge fintechs for processing escrow accounts and other services. SBI leads in customer-side UPI transactions.

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Soham Parekh joins Darwin Studios after Silicon Valley backlash for moonlighting

Soham Parekh faced criticism for working multiple jobs. He cited financial difficulties as the reason. Playground AI founder Suhail Doshi warned about Parekh's simultaneous employment. Parekh lost his jobs due to this. He has now joined Darwin Studios as a founding engineer. He will develop Wayve, an AI video remixing platform. Sanjit Juneja confirmed Parekh's appointment.

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YC-backed Cekura plans to open office in India following $2 million fundraise

The startup is engaged in providing testing and observability layer for voice and chat AI that enables teams to simulate conversations at scale, monitor production calls, and generate actionable insights.

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AI-backed brand analytics platform GobbleCube raises $3.5 million in round led by InfoEdge Ventures

Existing investor Kae Capital participated in the funding round. The fresh funds will be used to deepen its AI capabilities, expand platform coverage, and accelerate its global go-to-market efforts. Earlier in a seed round led by Kae Capital in 2024, the startup had raised $1.9 million.

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'Negligible impact': Apple analyst Kuo sees no upheaval from Foxconn's walking orders

Apple analyst Ming-Chi Kuo says Foxconn's move of Chinese employees from its India iPhone plant will not have much effect. Foxconn is increasing iPhone production in India. The company invested in its Devanahalli plant. It aims to produce 100,000 iPhones by December. Foxconn is also setting up a new unit in Tamil Nadu to make iPhone enclosures.

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Bhim gets big boost as NPCI scales up incentives, offers

Bharat Interface for Money (BHIM), the govt's UPI-based payment app, has seen a resurgence, nearly doubling its monthly transactions to 70 million in June after a period of stagnation. This growth is attributed to a user-interface revamp, increased marketing spend by NPCI, and targeted incentives.

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India needs more telecom unicorns, says DoT secretary Neeraj Mittal

This follows the Union Cabinet clearing the Rs 1 lakh crore research, development, and innovation (RDI) scheme, which the government feels will give momentum to telecom startups in India.

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Defeat of a ten year ban on state AI laws is a blow to tech industry

The Senate voted 99-1 to reject a proposed 10-year ban on state AI regulations, marking a major setback for the tech industry. Consumer groups and Democrats hailed the move, preserving states' authority to oversee AI. The amendment faced strong opposition despite support from Republicans, tech firms, and the Trump administration.

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Rapido eyeing food delivery ops pilot in Bengaluru by next week

Rapido will pilot its food delivery service, Ownly, in Bengaluru's Koramangala, HSR, and Sarjapur areas. Targeting 10 cities by next July, it aims to undercut Zomato and Swiggy on commissions. The company is collaborating with restaurants for data access and pricing strategies, prioritising sustainable growth and early learnings.

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Zuckerberg announces Meta ‘superintelligence’ effort, more hires

Zuckerberg wrote Monday to employees that Meta’s AI efforts will fall under a new group called Meta Superintelligence Labs, which will be led by Alexandr Wang, the former CEO of data-labeling startup Scale AI, according to an internal memo reviewed by Bloomberg. Wang, whom Zuckerberg called the “most impressive founder of his generation,” will serve as chief AI officer.

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Mid-market GCCs likely to add 40,000 jobs by 2026 end

India's mid-market global capability centres are set for growth. These centres will likely create 40,000 new jobs by 2026. Over 120 new centres are expected to emerge. Key sectors driving this growth include software and finance. Bengaluru and Hyderabad will be major hiring hubs. AI, cybersecurity, and data analytics skills are in high demand.

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From Reels to Retail: India’s influencers turning as next startup founders

Indian social media influencers are transitioning from content creation to entrepreneurship, launching brands in beauty, fashion, and more. Leveraging their strong audience connections, they compete with established celebrities, focusing on niche communities. This evolution unlocks new value beyond influencer marketing, driven by India's vast digital population and creator ecosystem, with firms supporting their business ventures.

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What's in latest version of Trump's big bill now before Senate

Now it's up to Congress to decide whether President Donald Trump's signature's domestic policy package will become law. Trump told Republicans, who hold majority power in the House and Senate, to skip their holiday vacations and deliver the bill by July 4.

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AI is learning to lie, scheme, and threaten its creators

The world's most advanced AI models are exhibiting troubling new behaviors - lying, scheming, and even threatening their creators to achieve their goals. Users report that models are "lying to them and making up evidence," according to Apollo Research's co-founder.

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Karnataka’s fake news bill: Rs 10 lakh fine, 7-year jail for disrespecting sanatan symbols, promoting superstition

The draft bill includes setting up a state fake news regulatory authority tasked with a broad mandate to monitor and regulate the content disseminated on social media platforms. Defending the move, state IT-BT minister Priyank Kharge said the Congress government is not trying to change any policy but only making an effort to connect the dots that already exist and make a bill out of it.

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Tesla hires former Cruise executive as AI director: Report

His appointment comes at a time when Tesla has seen a series of high-profile departures in the past year, including the resignation of two senior executives on Thursday.

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In pursuit of godlike technology, Mark Zuckerberg amps up the AI race

In April, Meta’s AI ambitions faltered as its new model underperformed rivals, prompting CEO Mark Zuckerberg to overhaul strategy. He demoted leaders, invested $14.3 billion in Scale AI, aggressively recruited top talent—some with $100M offers—and expanded Meta’s AI team, aiming to reassert Meta’s place in the superintelligence race.

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Shadowfax to file IPO papers under confidential route

The hyperlocal logistics startups could be valued at around Rs 5,500-6,000 crore, depending on the market conditions at the time of the listing, a person in the know said. The company has increasingly focused on the fast-growing quick commerce sector over the last year by providing rapid delivery to brands and marketplaces without their own logistics.

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Microsoft is killing Windows' Blue Screen of Death

After four decades, Microsoft is replacing the infamous Blue Screen of Death (BSOD) with a Black Screen of Death. The updated design aims for clarity, removing the sad face emoji and QR code, and prioritizing essential error information. This change is part of Microsoft's broader initiative to enhance Windows' resilience, following incidents that caused widespread BSOD errors.

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PayU expects 5% profitability margin in near term as new revenue lines kick in

The digital payments major had reported a 2% operating loss in the financial year 2025. According to CEO Anirban Mukherjee, once the company starts generating revenue from UPI, its earnings will get a boost. Currently, the government does not allow revenue generation on UPI payments, as its priority is the adoption of digital payments by small merchants.

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Microsoft sued by authors over use of books in AI training

A group of authors sued Microsoft, alleging it used nearly 200,000 pirated books to train its Megatron AI without permission. Filed in New York, the lawsuit seeks damages and a ban on further use. It's part of broader legal challenges facing AI firms over unauthorised training data use.

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OpenAI goes after Google Docs, Microsoft's Word for web with new ChatGPT features

OpenAI is reportedly developing collaboration features for ChatGPT, potentially rivaling Google Docs and Microsoft Word. These features, including document collaboration and chat, could lead to file storage and other productivity tools. This move intensifies competition with Google and further complicates OpenAI's relationship with Microsoft, its major investor, as it aims to attract more business subscriptions.

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TCS to set up 20 acres campus in Kolkata

In Phase I, TCS will construct 9 lakh square feet of office space, including an 11‑storey tower, creating 5,000 jobs. Phase II will add 15 lakh square feet and 20,000 more positions.

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Karnataka govt to drop 495 acres from hi-tech aerospace park plan after protests

The land is situated across three villages in Channarayapatna hobli in the Bengaluru rural district. Local farmers have been on a protest seeking to stall the acquisition. The minister said the government will not acquire any more land from the hobli for industrial purposes.

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Huawei's new laptop uses older China-made chip, US curbs stall SMIC

Huawei’s new MateBook Fold uses a 7nm chip by SMIC, not the expected 5nm version, highlighting limits from US export curbs. TechInsights says SMIC still lags behind global foundries. The laptop runs Huawei’s Harmony OS and reflects its push for tech self-reliance amid chip restrictions.

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UK launches new taskforce and fund to attract global science, tech talent

Aimed at boosting innovation and economic growth, the initiative supports relocation and research, targeting elite researchers, entrepreneurs, and creatives aligned with Britain’s new 10-year industrial strategy.

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Contract maker Zetwerk set to pump Rs 500–800 crore for component making

Zetwerk plans to invest Rs 500–800 crore in manufacturing printed circuit boards (PCBs), enclosures, and electromechanical components. Cofounder Rahul Sharma mentioned the company is preparing for the government's PLI scheme and has technology tie-ups with Taiwanese companies. Zetwerk is also exploring collaborations with South Korean and Chinese firms, pending government approvals, to enhance India's self-reliance in electronics manufacturing.

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UK AI startup Physicsx nears $1 billion valuation: Report

The company develops advanced AI tools for sectors like automotive and aerospace. This milestone reflects growing investor interest in AI-driven solutions for complex scientific and industrial challenges.

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AI sludge has entered the job search

Job postings now spark application floods, driven by AI-powered tools that automate resumes and interviews. Recruiters face challenges verifying authenticity, as fake identities and similar-looking applications surge.

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Horowitz backs AI startup with slogan 'cheat at everything'

The startup was cofounded by 21-year-old Roy Lee, who was booted from Columbia University earlier this year for creating a tool called Interview Coder that helped technical job candidates cheat on interviews using AI.

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Walmart tries to shed a stodgy vibe to battle digital-native rivals

Walmart built its empire by dominating on price. But to maintain that empire it must now compete on convenience, breadth and speed. During Associates Week -- its annual gathering of thousands of employees from around the world -- the company made a number of tech-focused announcements, like a new artificial intelligence assistant that it says will help customers shop online and an expansion of its drone home-delivery operation to more cities.

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Clampdown on ecommerce dark patterns may raise compliance burden for companies

The government is cracking down on deceptive online practices. Consumer internet companies face increased scrutiny. They must conduct self-audits to eliminate 'dark patterns'. These patterns trick users into unwanted purchases. A joint working group will monitor compliance. Companies will need dedicated teams. Experts believe sustained enforcement is crucial for consumer trust. This move impacts startups and large firms alike.

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Myntra’s entry to quick commerce in Delhi-NCR and Mumbai hold key considerations

Myntra has expanded its 30-minute delivery service, M-Now, to Delhi-NCR and Mumbai, targeting premium fashion shoppers amid rising quick commerce competition. With access to 600 brands, strong seasonal demand, and urban expansion, Myntra aims to strengthen its position in India’s fast-growing quick commerce segment.

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EU probes Musk's xAI buyout of X: Bloomberg News report

The European Union is intensifying its scrutiny of Elon Musk's xAI acquisition of X, potentially leading to significant fines under the Digital Services Act. Regulators are examining X's corporate structure post-acquisition and probing alleged DSA infractions, including deceptive design related to the blue checkmark verification system.

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Bike taxi drivers allege harassment by auto unions over plan to protest ban; demand legal framework

Representatives of the bike taxi drivers met Karnataka Health Minister Dinesh Gundu Rao and Dasarahalli MLA S Muniraju on Thursday, seeking urgent intervention to reverse the ongoing crackdown on bike taxi services in the state. Ironically, after clearing the Gig Worker Welfare Bill just last month, the government is now banning a sector that offers flexible income to thousands.

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Deeptech VCs spot big funding momentum on government, geopolitical push

Indian deeptech funds are gaining momentum, fueled by government support and technological advancements. Several funds like Speciale Invest, Ideaspring, and Mela Ventures are raising fresh capital to invest in AI, spacetech, and robotics. While early-stage funding is available, challenges remain in growth-stage investments and achieving successful exits for deeptech companies.

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Byju’s RP’s suit claims directors owe compensation to company under IBC laws

An EY-backed resolution professional, Shailendra Ajmera, has sued former Byju's directors. The lawsuits claim fraudulent asset transfers. These transfers allegedly deprived Think and Learn of funds. The transactions involve $533 million and Rs 130 crore. Riju Ravindran previously filed a petition. He sought Ajmera's removal citing conflict of interest. A Delaware court also ruled against Byju's Alpha's asset transfer.

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Microsoft planning thousands more job cuts aimed at salespeople

Microsoft is reportedly planning to eliminate thousands of jobs, primarily impacting its sales division, as part of ongoing cost-cutting measures amidst substantial investments in artificial intelligence. The announcement is expected in early July, following the close of the company's fiscal year. These terminations follow previous layoffs in May and a shift towards using third-party firms for some sales operations.

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IPO-bound BlueStone geared for unicorn tag

Bluestone is preparing for its public market debut. 360 One and Centrum Wealth are facilitating secondary deals. These deals amount to Rs 300–350 crore. The transaction values Bluestone at Rs 10,500 crore. RB Investments will fully exit Bluestone through these deals. Bluestone's IPO includes a fresh capital raise. The company reported revenue of Rs 1,266 crore in fiscal 2024.

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'GTA VI' delay weighs on global videogame market growth, data shows

A new report indicates a slight improvement in the global videogame market's growth for 2025. The market is projected to reach $188.9 billion, a 3.4% increase. Delays in game releases and hardware price hikes have impacted growth forecasts. "Grand Theft Auto VI" launch in 2026 is expected to boost sales.

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Amazon's corporate workforce may shrink as AI takes over routine tasks

Amazon CEO Andy Jassy announced that the rollout of generative AI and agents will lead to a reduction in the company's corporate workforce in the coming years. While AI is expected to automate tasks and reshape roles, experts anticipate a workforce reshuffling rather than mass unemployment. Amazon is implementing AI to enhance efficiency and customer experience across various internal operations.

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Google introduces stable Gemini 2.5 Flash and Pro, previews Gemini 2.5 Flash-Lite

Google DeepMind released stable versions of Gemini 2.5 Flash and Pro, highlighting top benchmark performance. Now broadly available to developers, the models support advanced reasoning, multimodal tasks, and one million-token context. A new Flash-Lite preview offers the fastest, most cost-efficient model in the Gemini 2.5 series.

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ETtech Explainer: Behind crackdown on unauthorised use of govt databases for user onboarding

The Indian government is cracking down on startups offering Aadhaar-based identity verification through unauthorised channels. MeitY has warned firms to use only regulated platforms. Startups like Zoop and Signzy are affected. While crucial for digital onboarding and fraud prevention, misuse of official databases has raised data privacy and legal concerns.

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Italy regulator probes DeepSeek over false information risks

Italy's antitrust authority has launched a probe into Chinese AI firm DeepSeek for allegedly failing to clearly warn users about potential false or misleading content generated by its chatbot, raising concerns over transparency and consumer protection. DeepSeek has not yet responded.

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InCred Money set to acquire discount broker Stocko, marking entry into retail broking

InCred Money is poised to acquire Stocko for approximately Rs 300 crore, marking its entry into the retail broking sector. This acquisition will integrate Stocko into InCred Money, expanding its offerings to include equities and derivatives trading. The Stocko team will continue to operate the platform, leveraging InCred's resources for faster scaling and innovation.

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Trump pocketed over $57 million from crypto coin sales

US President Donald Trump pocketed more than $57 million from token sales by the crypto venture he and his sons helped launch last year, according to federal financial disclosure forms released by the White House. Trump and his sons helped launch the cryptocurrency investment and lending platform ahead of last year's election, raising conflict of interest concerns especially after he went on to win.

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Amazon to invest $13 billion in Australia's data center infrastructure over five years

Amazon will invest a $20 billion from 2025–2029 to expand its data center infrastructure in Australia, supporting AI capabilities and cloud services. The investment includes new server capacity, generative AI support, and solar farms. It's Amazon’s largest tech commitment in Australia, signaling strong confidence in the nation's digital future.

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Startups fire up hiring engine in hunt for senior executives

Senior-level hiring is rebounding across Indian startups, driven by recent funding, IPO preparations, and AI-first hiring. Early-stage firms like Snabbit and Battery Smart are leading the charge, alongside mature players such as Flipkart. Startups are tapping diverse sectors for leadership talent to scale operations and navigate their next growth phase.

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Big Tech’s acqui-hire strategy heats up as demand for AI talent soars

In the last two years, large technology players have been acquiring AI startups for their technology teams. Microsoft paid $650 million in a licensing deal to Inflection AI, whose cofounder Mustafa Suleyman is now heading Microsoft AI. In a similar licensing deal, Amazon hired AI startup Adept cofounder David Luan and others who joined Amazon's AGI team.

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Unaccounted income invested in virtual digital assets on CBDT radar

Such entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax Act, 1961 have been identified for verification, sources said.

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Karnataka HC refuses relief to bike aggregators; Nasscom warns state govt of huge job losses

The division bench of acting chief justice Kameswar Rao and justice Sreenivas Harish Kumar on Friday directed Ola, Uber and the transport department to file their submissions on merit by June 20. The matter was adjourned to June 24. Nasscom sought interim relief from the state government and initiated a consultative process to develop a balanced regulatory framework for a long-term solution.

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Quick commerce fuels niche D2C boom in smaller cities

According to Satish Meena, adviser at ecommerce consultancy Datum Intelligence, a set of customers who previously shopped on ecommerce platforms are shifting to quick commerce for certain categories of products for instant gratification. Many consumers who haven’t used ecommerce before are also trying quick commerce because of its ease and accessibility, he added.

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Innovation takes a backseat at small companies as tariffs become a full-time preoccupation

Trump’s unpredictable tariffs have stalled innovation for small US businesses, forcing founders to delay product launches, cut staff, and shift focus from R&D to navigating trade costs. From educational toys to eco-friendly home goods and U.S.-made sneakers, companies are struggling with uncertainty, limited resources, and disrupted global supply chains.

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Google names insider Kavukcuoglu to lead AI-powered product development

Koray Kavukcuoglu, chief technology officer of Google's DeepMind AI lab, is taking on the newly created title of chief AI architect. He will also become a new senior vice president, reporting directly to Pichai.

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Polygon cofounder Sandeep Nailwal takes over as CEO amid restructuring

The blockchain firm has been facing rising competition from other players such as Coinbase’s Base and Optimism, even as most of its cofounders left the firm.

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Waymo leads autonomous taxi race in the US

Waymo's autonomous vehicles have become part of the everyday landscape in a growing number of US cities, serving as safe transport options, tourist attractions, and symbols of a not-so-distant future. But for tourists and business travelers, their first Waymo ride often becomes the most memorable part of a trip to the Golden Gate city.

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China is only 3-6 months behind US in AI, Trump official says

"China is not years and years behind us in AI. Maybe they're 3-6 months," said Sacks, speaking at the AWS summit in Washington. "It's a very close race."

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Snap to launch lightweight, immersive spectacles in 2026 as smartglass race heats up

Snap’s Specs are wearable computers that are integrated into a lightweight pair of glasses featuring see-through lenses that augment the physical world. In 2024, the parent company of the messaging app Snapchat released the fifth generation of its Spectacles specifically for developers, leading the way for the public launch of Specs in 2026.

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Apple unveils iOS 26: Which iPhones are eligible for new features?

​Apple launched iOS 26 at the WWDC 2025 and integrated Apple Intelligence across its apps and devices. It also introduced new display technology, Liquid Glass, and announced ChatGPT support to some apps. The company's shares, however, fell about 2% as the announcements failed to impress investors.

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Apple to open up underlying AI technology to developers

Apple software chief Craig Federighi said the company is opening up the foundational AI model that it uses for some of its own features to third-party developers.

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Karnataka's new IT policy to be finalised around July: Priyank Kharge

The last consultation on the matter was held among IT secretary Ekroop Caur, industry body Nasscom and others on May 23. They discussed strategies to reskill Karnataka’s digital workforce, emphasised extending IT infrastructure beyond Bengaluru into tier-2 and tier-3 cities, and reviewed regulatory reforms to enhance ease of doing business in the state.

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Perplexity Labs can draft 98-99% of an IPO prospectus: CEO Aravind Srinivas

Speaking at a Cisco event, Solomon said drafting the pre-IPO papers for a company used to take a six-person team and two weeks to create, but AI can do this in mere minutes, he said, and with 95% accuracy. He said, as quoted by a report by Financial Times, the last 5% "now matters because the rest is now a commodity".

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Buyer with ties to Chinese Communist Party got VIP treatment at Trump crypto dinner

Trump launched a so-called meme coin, a type of cryptocurrency, just days before his inauguration. To bolster sales, the president's business partners created a contest in April, offering the coin's top buyers a tour of the White House and a private dinner with Trump at his Virginia golf club. The meme coin dinner engendered strong criticism from Democrats, government watchdogs and even some Republicans about the appearance of monetising the presidency for personal gain.

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Ashok Elluswamy to lead Tesla Optimus robot project

Milan Kovac, the head of Tesla's Optimus humanoid robot program, announced his resignation on X, citing the need to spend more time with family abroad. Kovac, who led the program since 2022, will be immediately replaced by Ashok Elluswamy, who currently leads Tesla's autopilot teams. Musk has emphasized the importance of Optimus and autonomy for Tesla's long-term valuation.

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YouTube pilots vernacular thumbnails to complement dubbing tools

YouTube is set to launch a new feature enabling creators to upload localized thumbnails for dubbed video versions, enhancing content relevance for international audiences. This expansion of YouTube's multi-language audio dubbing tools, initially tested in 2023, allows for tailored visual experiences. The update aims to boost engagement and click-through rates across diverse regions, reflecting YouTube's commitment to global content distribution.

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If Elon Musk and President Donald Trump divorce, who gets Silicon Valley?

Elon Musk’s fallout with Donald Trump threatens Silicon Valley’s political ties, as tech leaders who followed Musk in supporting Trump may now face tough choices. Once seen as a key link between tech and Washington, Musk’s rift could jeopardise industry influence and benefits tied to AI, crypto, and satellite policy.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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Indians eye other visa routes amid H-1B uncertainty, layoffs

The new Donald Trump administration has tightened scrutiny of H-1B visas since taking office early this year. According to the data from the United States Citizenship and Immigration Services (USCIS), the number of H-1B visa applications shortlisted this year has declined 27% on year—the lowest since the pandemic-impacted FY21.

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Apple loses bid to halt court ruling that blocks some fees from its iPhone app store

Apple sought to put the order on hold after it was issued by U.S. District Judge Yvonne Gonzalez-Rogers in a stinging rebuke that also held the Cupertino, California, company in civil contempt of court and recommended opening a criminal investigation into whether one of its executives had committed perjury while testifying in her Oakland, California, courtroom.

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Without me, Trump would've lost the election: Musk-Trump alliance breaks

The two exchanged heated words after Musk came after Trump's "big, beautiful bill". "Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate," Musk said in a post on X, adding, "such ingratitude".

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Amazon planning $10 billion investment in North Carolina for data center and AI campus

Amazon said Wednesday that its investment in rural Richmond County should create at least 500 jobs and support thousands more through construction and data center supply chain providers, according to statements from the company and Gov. Josh Stein's office. Stein called the investment one of the largest in state history.

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Apple and Alibaba's AI rollout in China delayed by Trump's trade war: Report

The tech companies in February announced a deal to support iPhones' AI services offering in China, a move likely to help the US company ease falling smartphone sales in its key market.

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Reddit down for thousands of users globally

The platform was down for 26,291 users as of 2.34 p.m. ET, according to Downdetector, which tracks outages by collating status reports from various sources. The actual number of affected users may vary.

from Tech-Economic Times https://ift.tt/ErXJGbx

Meta's nuclear deal signals AI's growing energy needs

Meta's 20-year deal with Constellation Energy follows similar maneuvers from Amazon, Google and Microsoft, but it will take years before nuclear energy can meet the tech industry's insatiable demand for new sources of electricity.

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Wealthtech startup Stable Money raises $20 million in round led by Nilekani’s Fundamentum Partnership

Existing backers Z47, RTP Global and Lightspeed, besides Aditya Birla Ventures, participated in the funding round. Per cofounder Saurabh Jain, the funds will be used to expand its suite of wealth products and speed up customer acquisition. Since its launch in 2022, Stable Money has onboarded more than 150,000 users, who have invested in FDs and bonds, taking its total assets under management (AUM) to over Rs 3,000 crore.

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Elon Musk's Neuralink raises $650 million in latest funding round

Neuralink is in the process of testing its implant, which is intended to help people with spinal cord injuries. The device has allowed the first patient to play video games, browse the internet, post on social media and move a cursor on his laptop directly with his brain.

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Musk's xAI seeks $113 billion valuation in $300 million share sale: Report

The deal would allow employees to sell shares to investors and a larger investment round is expected to follow the secondary stock offer, in which xAI will offer new equity to outside investors, the FT report said.

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Hey chatbot, is this true? AI 'factchecks' sow misinformation

During India and Pakistan's recent conflict, social media users turned to AI chatbots like Grok, ChatGPT, and Gemini for fact-checking, only to receive misinformation. Experts warn these tools often produce false or biased content, raising concerns as tech firms cut human fact-checkers and users increasingly rely on AI for news.

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Listed new-age cos’ road to profitability; QED’s Nigel Morris interview

After a torrid time on Dalal Street, new-age firms have taken a turn towards profitability in the March quarter. This and more in today’s ETtech Morning Dispatch.

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Regulators realising fintechs are here to stay: QED’s Nigel Morris

Fintechs are no longer scrappy outsiders. They’re scaling faster than traditional players and increasingly, regulators are recognising them as a permanent fixture in the financial services industry, QED Investors' cofounder Nigel Morris told us. In an exclusive interview during his annual visit to India, Morris said fintechs are beginning to dominate categories such as earned wage access, money transfers, and neobanking.

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Silicon Valley VCs navigate uncertain AI future

The stakes have grown so high that even major venture capital firms -- the same ones that helped birth the internet revolution -- can no longer compete. Mostly, only the deepest pockets remain in the game: big tech companies, Japan's SoftBank, and Middle Eastern investment funds betting big on a post-fossil fuel future.

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BigBasket pilots 10-minute food delivery with Starbucks, Qmin in Bengaluru

BigBasket has entered the rapid food delivery market, offering a 10-minute service in Bengaluru, featuring items from Starbucks and Qmin. This move follows CEO Hari Menon's announcement of expanding into food delivery by 2025. The rapid food delivery segment is becoming increasingly competitive, with Zepto, Swiggy, and Blinkit also expanding their offerings.

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Meta to handover most of product risk assessments to AI

Meta plans to automate risk assessments for up to 90% of app updates, raising concerns about potential real-world harm due to reduced human oversight. While Meta claims this increases efficiency and focuses human judgment on complex issues, critics worry about the potential for unchecked risks, especially in sensitive areas like AI safety and misinformation handling.

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Trump Media raises $2.44 billion for Bitcoin treasury plan

Trump Media & Technology Group Corp. secured approximately $1.44 billion through stock sales and $1 billion in convertible bonds, earmarking the funds to establish a Bitcoin treasury. Following the announcement, the company's shares experienced a rise, with the deal providing over $3 billion in liquid assets and Bitcoin exposure to shareholders. Crypto.

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Silicon Valley is at an inflection point

Under President Trump's administration, tech giants are gaining unprecedented power, fueled by initiatives like the Stargate Project and favorable tax policies. This support allows them to expand their influence across various sectors, raising concerns about data privacy, resource consumption, and the concentration of AI research within these companies.

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Looking forward to 'Open-io': Google CEO Sundar Pichai lauds OpenAI-Jony Ive collab

Sundar Pichai expressed excitement about the OpenAI-io collaboration to develop next-gen AI devices, anticipating innovative technology and hardware. OpenAI's acquisition of Ive's io for $6.4 billion signals a significant move, with Ive taking on creative roles across both entities.

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Quantum computing may soon become a scaled solution: Wipro

Wipro’s CTO Sandhya Arun expects quantum computing to scale by year-end. Agentic AI currently saves 20-35% of manual effort. Wipro’s new innovation lab focuses on quantum, AI, blockchain, and robotics, aiming to accelerate technology adoption and business impact globally.

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Meta joins Anduril to build XR products for US armed forces

Meta and Anduril Industries are collaborating to deliver integrated extended reality (XR) products for the US military, funded privately. This partnership integrates Meta's AR/VR capabilities with Anduril's Lattice platform, an AI-powered command and control system, enhancing tactical decisionmaking. They've sent a joint proposed to Soldier Borne Mission Command (SBMC) Next, aiming to develop digital awareness system for soldiers.

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IndiaAI selects 10 startups for global acceleration programme

IndiaAI Mission has selected 10 homegrown AI startups for its global initiative, partnering with Paris-based Station F and HEC Paris. The four-month programme supports global scale-up, market access, and collaboration. Minister Ashwini Vaishnaw called it a milestone in India’s AI innovation diplomacy and global growth.

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IPO bound Imarticus Learning acquires MyCaptain

Imarticus Learning has acquired edtech startup MyCaptain for Rs 50 crore to expand its presence in non-tech career training, especially in India’s tier 2 and 3 cities. The acquisition boosts Imarticus’ reach with 60+ live programmes, over 850 staff, and aims to serve 5 million learners in three years.

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TCS to add AI agents alongside human workforce: N Chandrasekaran

Looking ahead, TCS plans four progressions - establish a large pool of AI agents working alongside our human workforce, deliver solutions through a human+AI model, invest in AI data centers and cloud infrastructure, as well as forge partnerships, Chandrasekaran said.

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Exclusive: Unacademy founders Munjal, Saini set to exit, shift focus to AirLearn

Unacademy cofounder Gaurav Munjal is stepping down as CEO, with Sumit Jain taking over amid a company reset and focus on AirLearn. Fellow cofounder Roman Saini is also exiting an active role. This leadership change follows internal discussions and a shift from online test prep to physical centers, impacting the edtech's business.

from Tech-Economic Times https://ift.tt/1qcAEaG

Fashion delivery startup Slikk Club raises $10 million led by Nexus Venture Partners

Fashion quick commerce startup Slikk Club has raised $10 million in funding led by Nexus Venture Partners, with Lightspeed also participating. The funds will support category expansion, faster returns, and geographic growth. Slikk plans to scale to 500 brands and six to eight dark stores, targeting fashion, beauty, and accessories.

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Flipkart growing at up to 25% despite ecommerce slowdown: Group CEO Kalyan Krishnamurthy

Flipkart is experiencing strong momentum with 20–25% year-on-year order growth in May, despite an industry slowdown. CEO Kalyan Krishnamurthy highlighted the firm’s India re-domiciling move, profitability push, and 30% projected June growth. He also reaffirmed that Flipkart’s quick commerce venture, Minutes, aims to scale up to 800 operational dark stores by the close of 2025.

from Tech-Economic Times https://ift.tt/ShIK6ct

Online pay aggregators focus on anti-fraud tech to up revenues

Facing intense competition and pricing pressures in the core payments business, large payment aggregators in India, such as PayU, Razorpay and PhonePe, are developing and deploying fraud detection software platforms for banks and fintech companies. They are pitching these tools to banks, offering them a higher degree of safety for their customers as well as better transaction success rates.

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Pills, promotions and a dose of doubt: Influencers, VC money fuel India’s booming supplements market

India's health supplement market is booming, fueled by increased health awareness post Covid-19 and social media marketing. Venture capital is pouring into the sector, leading to a proliferation of products sold directly to consumers. Concerns are rising about the blurring lines between wellness and pseudoscience, with experts calling for stricter regulation and transparency to protect consumers from misleading claims.

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Zepto founder Aadit Palicha alleges smear campaign by rival CFO as quick commerce race heats up

Zepto's cofounder, Aadit Palicha, accused a rival company's CFO of orchestrating a smear campaign by spreading false information to investors and media. Palicha defends Zepto's financial health, citing significant growth in gross order value and Ebdita improvement. He asserts the company's strong cash position and denies plans for large-scale store closures.

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Naukri bug exposed recruiter email IDs via mobile apps: Report

Security researcher Lohith Gowda, who discovered the issue, said it was caused by a flaw in the API used by Naukri’s Android and iOS apps. The bug exposed recruiter email IDs when they viewed candidate profiles. The web version of Naukri.com was unaffected.

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Apple has had few incentives in the past to start making iPhones in US

Apple for decades has been building most of its devices in China, where it has invested tens of billions of dollars on massive factories that rely on a vast network of local suppliers. The company's reliance on a crucial pipeline outside the US thrust the technology trendsetter into the crosshairs of Trump's trade war.

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Here's what Elon Musk sees when he opens X

Elon Musk’s political views have been shaped by content on X, his own platform. A New York Times analysis of his feed shows a heavy tilt toward right-wing voices, conspiracies, and pro-Musk praise. These posts often align with his public positions, influencing national conversations and reflecting his online echo chamber.

from Tech-Economic Times https://ift.tt/5OyBYER

At Amazon, some coders say their jobs have begun to resemble warehouse work

As AI transforms coding, developers report increased speed, reduced creativity, and more repetitive tasks. At companies like Amazon, AI tools are boosting productivity but intensifying pressure, echoing past industrial shifts. Engineers fear their roles are being degraded, mirroring factory-style speedups that prioritise output over autonomy and skill development.

from Tech-Economic Times https://ift.tt/49GIWMK

Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

from Tech-Economic Times https://ift.tt/OfVhN4S

Tariff? Long arm of Trump law may not pluck Apple off India

Despite Trump's tariff threats against iPhones made outside the US, experts believe Apple will continue its India manufacturing plans. They suggest Trump's comments are a tactic to pressure India on trade. Analysts deem shifting production to the US unfeasible due to high labour costs, potentially raising iPhone prices significantly.

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Rapido’s gross order value soars 2.5x in FY25 to $1.25 billion

Urban mobility startup Rapido more than doubled its gross order value to $1.25 billion in FY25, driven by new services. However, rising cash burn has pushed it further from profitability. Rapido is now preparing to enter food delivery, hiring from rivals and engaging with major QSR brands and cloud kitchens.

from Tech-Economic Times https://ift.tt/f5oKu2D

Anthropic rolls out Claude 4 family of AI agents

Anthropic, backed by Google, has launched its latest AI models, Claude Opus 4 and Claude Sonnet 4. These models offer advanced coding and reasoning skills. Claude Sonnet 4 is available for free users. Opus 4 is for Pro users. Both are accessible via Anthropic API, Amazon Bedrock, and Google Cloud's Vertex AI.

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ETtech Explainer: Why are D2C brands unhappy with Zepto’s ‘swap and save’ feature?

Many D2C brands, which pay commission on sales and invest in advertising and discounting, see red as Zepto rolls out its 'swap and save' feature, as they fear less expensive brands will replace their products in customers’ carts.

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India Inc shoring up its cybersecurity spends amid spillover threats

Following recent India-Pakistan tensions, Indian companies are bolstering their cybersecurity defenses. Heightened cyberattacks have prompted large and mid-sized firms, particularly in BFSI and critical infrastructure, to reassess their readiness.

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Fortnite's Darth Vader is AI-powered. Voice actors are rebelling.

Following James Earl Jones' death, Fortnite used AI to recreate Darth Vader’s voice, sparking backlash from actors' union SAG-AFTRA. The union filed a labour complaint against Epic Games, citing lack of negotiation. While Jones' estate supports the project, concerns over AI’s impact on performers' rights and job displacement continue to grow

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Pichai sees platform shift as AI brings tech research to life

Sundar Pichai says AI is driving growth. Google is launching AI mode for search in the US. The company is investing heavily in AI data centers. Google is integrating AI across its products. The Gemini app has over 400 million users. AI overviews in search has more than 1.5 billion users.

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Nintendo turns to Samsung to make chips, ramp up Switch 2 output

Nintendo has partnered with Samsung for the Switch 2's main chips, potentially enabling the production of over 20 million units by March 2026. This collaboration is a significant win for Samsung, aiming to compete with TSMC in chip manufacturing. The Nvidia-designed chip, utilising Samsung's 8-nanometer node, is optimised for their systems, helping Nintendo meet high demand.

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ChatGPT user base grew fourfold in a year: Sam Altman

OpenAI CEO Sam Altman revealed that ChatGPT’s daily active users have grown over fourfold in the past year. The surge, driven by the GPT-4o launch and the viral Studio Ghibli trend in March, has significantly boosted engagement. Altman praised the engineering team’s progress on speed and reliability amid this rapid growth.

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Health-tech startup CureBay raises $21 million in round led by Bertelsmann India

British International Investment and existing investor Elevar Equity also participated in the funding round. The Odisha-based tech-first hybrid healthcare platform will use the funds to bolster its in-house, proprietary tech stack, expand its footprint and hire talent.

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Tatas’ Hosur plant starts assembling Apple’s iPhones

Tata Electronics has begun assembling iPhone 16 models at its Hosur plant. This move aims to establish the company as a key smartphone supply chain player. The company is expanding its operations beyond enclosures. It is scaling up after acquiring Wistron and Pegatron's Indian arms. This development strengthens Apple's India presence and reduces reliance on China.

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Apple partner Hon Hai injects $1.5 billion into India unit

Hon Hai Precision Industry Co., Apple's primary iPhone manufacturer, is investing $1.5 billion in its Indian unit, signaling a production shift away from China. This move aligns with Apple's strategy to diversify its manufacturing base amid geopolitical tensions and potential tariffs. The majority of iPhones made in India are assembled at Hon Hai's southern India factory.

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Microsoft to offer rival AI models from own datacentre; launches AI coding agent

At its Build conference, Microsoft announced it will host AI models from xAI, Mistral, and Black Forest Labs in its own data centres. It also unveiled a new coding agent in GitHub Copilot and introduced Azure Foundry, enabling businesses to build custom AI agents using their preferred models with improved reliability.

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Kaynes Semicon opens chip design centre in Oman with its IT ministry

Kaynes Semicon, a subsidiary of Kaynes Technology India, has inaugurated its first overseas chip design center in Muscat, Oman, in collaboration with Omani ministries. The VLSI design center will focus on front-end and back-end chip design, training 80-100 students annually. This initiative aims to build a robust semiconductor ecosystem beyond India, supported by the Omani government's funding.

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Sam Altman calls critics of Trump's UAE AI deals 'naive'

Sam Altman defended AI deals between the US and Gulf countries, dismissing critics as naive. These deals, involving companies like Nvidia, AMD, and OpenAI, aim to boost AI development in the region. However, US lawmakers worry about potential access for China to advanced AI chips through these partnerships, highlighting concerns over technology transfer and security vulnerabilities.

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Expect return to healthy growth by Q2 FY26: Tata Tech CEO & MD Warren Harris

Harris further said, "But unfortunately, almost within the first week of the new fiscal year the new (US) president announced the tariff shock which has really prompted everybody once again to revisit their plans." On the positive side, he said the tariff threats are not going to be realised and trade agreements are likely to be reached.

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Zoho’s Sridhar Vembu warns of LLM-led job disruption in software development

Vembu’s remarks align with growing global apprehensions about AI-induced job displacement. In April, the United Nations Conference on Trade and Development (UNCTAD) stated that up to 40% of jobs worldwide could be affected by AI. The Economic Survey 2024-25 also raised this issue, highlighting the rapid progression of AI technology and its disruptive effects on the labour market.

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Epic Games' Fortnite not available on iPhones in EU and the US

Epic Games did not give a reason why Fortnite was blocked, but Apple said it had asked Epic Sweden to resubmit the app update without including the U.S. storefront so as not to impact Fortnite in other geographies. "We did not take any action to remove the live version of Fortnite from alternative distribution marketplaces," an Apple spokesperson said.

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Byju Raveendran, Divya Gokulnath outline future plans, deny wrongdoing amid legal troubles

Raveendran, founder and CEO of embattled edtech giant Byju’s, along with cofounder Gokulnath, has spoken out about the company’s turbulent journey, acknowledging past mistakes while outlining a vision for the future in a conversation with ANI.

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OpenAI takes on Google Gemini Anthropic with AI coding agent for ChatGPT

OpenAI has launched Codex, an AI coding agent powered by codex-1, designed to assist software engineers with tasks like writing features, fixing bugs, and proposing pull requests. Available on ChatGPT Pro, Enterprise, and Team, Codex aims to improve coding workflows while incorporating safeguards against malicious use. Google DeepMind also enhanced Gemini 2.5 Pro with improved coding capabilities.

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Swiggy launches exclusive discount programme for students

For students aged 18 to 25, a 20% discount on Dineout bills above Rs 799 is also offered. This marks another step in Swiggy’s expansion of food delivery use cases. The Students Reward Programme is live in close to 2,000 campuses across 200 cities, including Delhi, Bengaluru, Pune and Mumbai, as well as small towns like Dehradun, Rajkot, Sonipat and Patiala.

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Big breather for Indian cloud, data companies as US scraps Biden-era AI chip curbs

The US scrapped a proposed AI export control rule, easing pressure on Indian cloud firms who feared chip import limits. While bans on Huawei Ascend chips have little impact in India, new tracking mandates for US chips raise enforcement challenges. Industry leaders stress the need for India’s AI self-reliance amid rising compute demand and data sovereignty concerns.

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Potential US semiconductor manufacturing boom complicated by Trump's economic policies

The US semiconductor industry is expanding rapidly, especially in Greater Sacramento, driven by CHIPS Act incentives and supply chain concerns. However, Trump's tariff threats and policy uncertainty are stalling investment and risking progress. Experts warn prolonged trade tensions could disrupt growth, despite major commitments from firms like Bosch and TSMC.

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Capillary Tech buys assets of customer loyalty services firm Kognitiv

Capillary Technologies, backed by Warburg Pincus, has acquired assets from the bankrupt Canadian firm Kognitiv, expanding its North American presence and gaining access to over 30 enterprise clients. This acquisition marks Capillary's third in North America as it prepares for a public offering later this year.

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BharatPe CTO Pankaj Goel resigns citing personal reasons

Pankaj Goel, chief technology officer of BharatPe, resigned citing personal reasons. He joined in July 2023 and is currently serving his notice period. This exit follows other senior leadership departures. BharatPe received RBI authorisation to operate as an online payment aggregator. The company plans to launch mutual funds and insurance products. BharatPe is also considering a public listing in the future.

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Zepto enters consumer analytics space with launch of subscription-based Atom

Zepto is launching Zepto Atom, a subscription-based analytics and commerce platform, on May 16. Powered by Zepto GPT and NLP, it offers brands real-time consumer insights, hyperlocal targeting, and quick delivery. Over 7,000 products and major brands are already onboarded for this exclusive initiative.

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PayPal launches tap-to-pay for iPhone users in Germany

PayPal has launched tap-to-pay for iPhone users in Germany, enabling contactless payments at Mastercard-enabled terminals. The rollout follows EU rules forcing Apple to open its NFC chip to third parties. The feature is iPhone-only and excludes Apple Watch support.

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Intel has limited customer commitments for latest chip manufacturing tech, CFO says

Intel’s committed chip production volume for external customers using its new manufacturing tech remains low, CFO David Zinsner said. While test chip activity is ongoing, actual client commitments are limited as Intel pushes to expand its contract manufacturing ambitions.

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Pope Leo calls for news media to shun divisive language

Pope Leo XIV, in his first address to journalists, called for disarming media of hostility and promoting free, responsible communication. He advocated press freedom, praised imprisoned reporters, and warned of social media and AI risks. Leo also spoke with Ukraine’s president, echoing his predecessor’s peace-focused legacy.

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EU regulators ask if Starlink is credible rival to SES, Intelsat

EU regulators are assessing SES's $3.1 billion bid for Intelsat, seeking input on whether SpaceX’s Starlink is a credible rival. Their decision, due June 10, could clear the deal or trigger a deeper probe amid growing competition in the satellite broadband market.

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AI firm Perplexity eyes $14 billion in valuation in fresh funding round: Report

Perplexity AI is in advanced talks to raise $500 million at a $14 billion valuation, led by Accel. The Nvidia-backed startup offers AI search tools, attracting investor interest amid rapid chatbot evolution and potential Safari integration by Apple.

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GCCs, small companies see an opening in WFO rules

Resistance to work-from-office (WfO) requirements comes at a time when low salary hikes in IT sector are also making many unhappy. While companies may be conceding to some requests to retain key employees who may be hard to replace, some people are quitting jobs and joining smaller firms or global capability centres (GCCs) that are open to work-from-home or hybrid models.

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Operation Sindoor: Tensions rise across borders and boardrooms as India’s business & policy voices respond to post-ceasefire developments

Following Operation Sindoor and a May 10 ceasefire between India and Pakistan, Indian business leaders expressed mixed reactions—ranging from praise for PM Modi’s strong stance to deep scepticism about Pakistan’s reliability. Many emphasised India’s new zero-tolerance policy on terrorism and growing alignment with global powers like the US.

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Wary investors hope US-China talks cool high-stakes trade war

Investors hope US-China trade talks in Geneva will ease tensions and stabilize markets, though few expect a breakthrough. With tariffs as high as 145%, stakes are high. While some signs of progress emerge, volatility persists, and experts remain cautious about a swift resolution to this complex geopolitical dispute.

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US-China tariff talks to continue Sunday, as Trump touts 'great progress made'

President Trump hailed “great progress” in US-China tariff talks in Switzerland, suggesting a possible “total reset.” While no major breakthrough occurred, negotiations will continue. Trump aims to ease trade tensions affecting global markets. Talks with Swiss leaders also addressed US tariffs on Swiss goods, prompting cautious Swiss responses amid economic concerns.

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‘With AI, some of the world’s greatest storytellers will come from the most random places’

YouTube's creator economy, valued at $250 billion, is thriving—particularly in India, its largest market. Top global creators like Mark Rober, Mayo Japan, and Brandon B highlight the evolving landscape of content creation shaped by AI, diverse revenue streams, and rising global audiences. They see passion, optimism, and mainstream appeal ahead.

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The 2006 Zuckerberg quote at the center of Meta's antitrust trial

The FTC's antitrust trial against Meta challenges its dominance by questioning whether social networking is about personal connections or broader digital engagement. At issue are Meta’s acquisitions of Instagram and WhatsApp, which the government argues stifled competition. The case hinges on defining the market and could reshape antitrust enforcement in the digital era. A breakup is possible.

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Defense related stocks surge; Ideaforge tech jumps 20%

Defense stocks surged as geopolitical tensions flared between India and Pakistan, following Pakistani drone attacks and ceasefire violations along the border. India's military responded forcefully, boosting expectations of increased defense spending. Shares of major defense and drone companies, including Bharat Electronics, Hindustan Aeronautics, and Ideaforge, rallied strongly. Analysts cite heightened security focus as the driver of the market momentum.

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How Apple created a legal mess when it skirted a judge's ruling

After a court ordered Apple to allow external payment links in apps, internal debates ensued over preserving its App Store revenue. CEO Tim Cook chose a 27% commission, despite legal risks. A judge later ruled Apple lied, withheld evidence, and defied court orders, damaging its credibility in ongoing global antitrust cases.

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Chipmakers find a ray of hope in AI chipsets amid US tariff gloom

Market trackers said chip makers are insulated from significant tariff impact due to the nature of their supply chain. The manufacturing of the chip sets largely takes place in Taiwan or Korea, which insulates the companies from a trade fallout with China. The origin of the final assembled device is often what determines the tariff applicability when shipped to a market like the US, so MediaTek and Qualcomm are not directly exposed to the evolving uncertainties, analysts said.

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Capital push for startups: Government expands Credit Guarantee Scheme

The government has revised the Credit Guarantee Scheme for Startups, doubling the maximum guarantee cover to Rs 20 crore and increasing coverage to 85% for loans up to Rs 10 crore. It also reduced annual guarantee fees to 1% for key sectors.

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Microsoft wins appeal in FTC challenge to $69 billion Activision Blizzard deal

A US appeals court rejected the FTC’s challenge to Microsoft’s $69 billion Activision deal, ruling the agency failed to prove the merger would harm competition. The court upheld a 2023 decision allowing the deal, marking a major win for Microsoft in the gaming industry.

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Alphabet's share price plunges on traffic drop testimony

Shares in Google parent Alphabet plunged more than seven percent on Wednesday after an Apple executive told a federal court that the search engine's traffic fell on Apple products last month. Cue told the court this would have a significant impact on Apple's ability to invest in new products and services.

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US stocks sink again as more companies detail damage they're taking because of Trump's trade war

US stocks fell as AI enthusiasm cooled and companies, including Ford and Clorox, withdrew forecasts due to Trump’s tariff uncertainty. The S&P 500 dropped 0.5%, led by declines in Palantir and Nvidia. Market caution grows amid economic unpredictability and potential Fed rate decisions.

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Intel shareholders approve equity incentive plan, new CEO pay

Intel investors backed a plan to boost share reserves for employee incentives and CEO Lip-Bu Tan’s pay. They re-elected board members, excluding three who stepped down. Shareholder motions on Israel operations, donation transparency, and written consent rights were voted down.

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Agentic AI reshaping enterprise software pricing, business models

Agentic AI is transforming Indian SaaS and enterprise software pricing models by replacing human users with bots. Companies are shifting from per-user billing to consumption- and outcome-based pricing, including API and AI-unit models. While AI services now command premiums, some customers demand pricing certainty, prompting hybrid and bundled service offerings.

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OpenAI to remain under non-profit control in change of restructuring plans

OpenAI has decided to remain under the control of its non-profit entity, reversing earlier plans to adopt a for-profit governance structure. CEO Sam Altman said the for-profit arm will become a public benefit corporation, ensuring oversight stays with the non-profit amid regulatory discussions and civic leader feedback.

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Ola IP may transfer to Bhavish Aggarwal family office

ANI Technologies operates the group’s ride-hailing business and holds the brand IP, which is currently licensed to Ola Electric, a separately listed electric vehicle (EV) company, in exchange for a fee. The proposed shift in ownership comes amid broader questions over the cross-holding of assets within the Ola ecosystem. The firms–ranging from ANI to Ola Electric and AI startup Krutrim–have overlapping but distinct shareholder bases.

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US researchers seek to legitimise AI mental health care

The Dartmouth team recently published a clinical study demonstrating Therabot's effectiveness in helping people with anxiety, depression and eating disorders. A new trial is planned to compare Therabot's results with conventional therapies. The medical establishment appears receptive to such innovation.

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RackBank to build 80MW AI data centre for Rs 1,000 crore in Raipur

RackBank has launched its new AI datacentre in Raipur, Chhattisgarh, with an initial investment of Rs 1,000 crore. The 13.5-acre facility, capable of housing 1 lakh GPUs, aims to meet India's growing AI needs. Utilising RackBank's liquid cooling technology for enhanced energy efficiency, the data centre anticipates creating job opportunities for 200–500 people.

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Google can train search AI with web content after AI opt-out

During a trial examining Google's search dominance, a Google VP testified that the company trains its AI models on web content, even if publishers opt-out. This data usage, particularly for AI Overviews, raises concerns about revenue loss for publishers. The Justice Department is pushing for measures to restore competition, including potential restrictions on Google's AI practices.

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Britain to warn companies cyber security must be 'absolute priority'

The UK government will urge businesses to prioritise cybersecurity after recent attacks on Marks & Spencer, Co-op, and Harrods. Cabinet minister Pat McFadden will highlight the threat at the CyberUK conference, promoting new legislation amid rising cybercrime that continues to disrupt major British firms.

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Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

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To make the most of IPL season: Small brands join team qcomm for maximum impact

Regional brands such as Troovy chips, Samyang Ramen noodles, Lucknow Kabaab Hub, Captain Sam’s pizza, Boss burger, Artinci cookies and Feeelings noodles are among those looking for an IPL lift. On average, 130-150 new regional brands get on delivery and quick-commerce platforms every month, though some stay for two-three quarters, depending on how much they are willing to pay as margin fees, executives said.

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ONDC delays levying network fee again on stakeholder feedback

ONDC has postponed its planned network fee for seller apps to July 1, following stakeholder feedback. Initially set for January, the Rs 1.50 per transaction fee aims to fund infrastructure and services. The delay allows participants time to adapt, reflecting ONDC’s evolving approach and commitment to sustainable operations.

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Eternal Q4 report: Net profit plummets on Blinkit losses; food delivery stays in the slow lane

In an indication of rising dependence on food delivery for consolidated profits, the parent of Zomato and Blinkit shut down its 15-minute food delivery service, Quick, and its homely meals offering, Everyday. But food delivery too registered slow growth.

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LinkedIn shares advertising revenue with creators in video push

Earlier this year, the career site debuted a full-screen video feed that looks similar to TikTok. LinkedIn users are now watching 36% more video than they did a year ago, the company said. In June, the company rolled out BrandLink, a system that helps businesses place ads next to the video content from news publishers such as Bloomberg, Reuters and the Wall Street Journal, which in turn get a cut of the resulting revenue.

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Gates Foundation is rattled by Trump's threat to its mission

Bill Gates' efforts to collaborate with Donald Trump on global health faltered as the Trump administration dismantled key US aid programs. The Gates Foundation, now facing political threats and scrutiny, struggles to adapt while maintaining its mission amid rising hostility toward philanthropy, DEI programs, and global health initiatives.

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Trump called Bezos to complain about Amazon report

Former US President Donald Trump reportedly called Amazon Executive Chairman Jeff Bezos to object to a news report claiming the company would show the impact of tariffs on product prices. Amazon denied the report, stating it had no plans to display tariff-related pricing on its retail site and had not implemented any such changes.

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In fierce UPI fight, new players Flipkart-backed Super.Money, Navi, Cred start to gain ground

New-generation UPI apps such as Navi, Cred, Bhim, and Super.Money have been quietly gaining market share over the last six months, aggressively using cashbacks and incentives to carve out a slice of the growing digital payments market. NPCI data shows that these smaller apps have collectively nearly doubled their market share.

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Solar-focussed NBFC Metafin raises $10 million in round led by Vertex Ventures SEA & India

Existing investors Prime Venture Partners and Varanium Capital participated in the Series A round, along with Northern Arc and AU Small Finance Bank. The funds will be used to deepen its presence in existing markets, expand into new states, and strengthen its tech, credit, and service infrastructure.

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High US tariffs pushing Chinese exporters to tap Indian firms for shipments to America: FIEO

High US tariffs on Chinese goods are pushing American sourcing firms and Chinese exporters to approach Indian companies for supplies, creating major opportunities for Indian exporters. FIEO highlights rising interest, though regulatory hurdles remain for Chinese firms investing in India.

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IT grapples with 20%+ drop in deal pricing on macro, AI impact

This scenario is expected to sustain leading IT firms to sharpen focus on cost efficiencies and vendor consolidation amid continued slowdown in technology spends by most corporate clients, analysts said. After Covid's strong growth period, the over-$280 billion technology services outsourcing industry has seen projects tilt towards cost takeout and vendor consolidation.

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Singapore orders foreigners' Facebook posts taken down under new election rules

Singapore has ordered Meta to block local access to posts by three foreigners accused of trying to sway the upcoming May 3 election along racial and religious lines. The move, under new social media rules, sparked denials from those involved and raised concerns about foreign interference in domestic politics.

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Israel's AI experiments in the war in Gaza raise ethical concerns

The Gaza conflict saw rapid deployment of AI tools—from facial recognition to Arabic-language chatbots—raising both strategic advantages and ethical concerns over surveillance, misidentification, and unintended civilian harm. These technologies, developed by Unit 8200 and tech-industry reservists, mark a new era of real-time AI use in warfare, prompting urgent debate over accountability and the human cost.

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India grappling with a dearth of agentic AI experts

India is grappling with a critical shortage of agentic AI professionals as demand surges, driven by the shift towards sophisticated AI agents capable of autonomous decision-making. The current talent pool of under 100,000 is struggling to meet the projected need of 200,000 by 2026, leading to soaring salaries and intense competition among GCCs, IT firms, and startups.

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Samsung to invest $117 million in southern Indian facility, minister says

Samsung Electronics will invest ₹10 billion ($117 million) in its southern India plant despite recent labor unrest. Following strikes and protests over suspensions and wage demands, the move signals continued confidence in Tamil Nadu’s workforce, with plans to add 100 jobs at the facility.

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After years of failed AI deals, Intel plans homegrown challenge to Nvidia

Intel aims to challenge Nvidia's AI chip dominance with a homegrown, holistic strategy under new CEO Lip-Bu Tan. Emphasising product refinement and full-system offerings, Intel will shift from acquisitions to in-house innovation, though analysts warn breaking into the market remains a steep, uncertain climb.

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Mid-tier IT company Persistent's Q4 net profit balloons 25%

While healthcare will continue to see softness, CEO and executive director Sandeep Kalra is optimistic that banking, financial services & insurance and technology sectors to lead growth in the next three to four quarters.

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Meta lays off employees in Reality Labs division: Report

While the exact number of layoffs is not yet known, these latest layoffs follow a broader round of job cuts in February, when Meta reduced its workforce by nearly 3,600 roles—about 5% of its global headcount—citing performance-related concerns. The downsising aligns with CEO Mark Zuckerberg’s push to build a leaner, more agile organisation.

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Should we start taking the welfare of AI seriously?

As AI systems grow more advanced, some researchers are beginning to explore whether these models could one day become conscious and deserve moral consideration. While today's AI lacks true awareness, the debate raises ethical questions about how we treat intelligent machines—even as many believe the focus should remain on protecting humans.

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Teaching AI morality like a child: DeepMind CEO Demis Hassabis talks of ethical use of AI

In a conversation with Scott Pelley of CBS, the Nobel Prize awardee said that current AI systems do not exhibit any form of consciousness or self-awareness. What matters more is that systems understand concepts of “self” and “other”—an early step toward more advanced cognitive abilities, Pelley pointed out.

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OpenAI’s image generator is now open to businesses worldwide via API

OpenAI has launched the gpt-image-1 API, enabling developers to integrate ChatGPT's image generation capabilities into their products. The model supports diverse visual styles and applications in design, marketing, and education. It includes safety filters and privacy measures, with tiered pricing.

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Tariff turmoil: How Tesla and other companies are dealing with the uncertainty of the trade war

Ongoing tariff uncertainty and a volatile trade war are disrupting company forecasts and operations. Firms like Tesla, Akzo Nobel, Boston Scientific, Boeing, and AT&T report mixed impacts—ranging from supply chain disruptions to consumer demand concerns. Treasury Secretary Bessent expects de-escalation with China, but formal negotiations haven’t begun, leaving future impacts unclear.

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Crisis-hit BluSmart’s 500 staffers await clarity on their salary dues

On April 16, BluSmart suspended its ride-hailing operation. A day later, in an email to its customers, the company said it would initiate a refund of their balance amount on the BluSmart app within 90 days if it did not resume the services by then.

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Former NIIF executive to launch $250 million PE fund

Padmanabh Sinha, former executive of NIIF, is launching a new $250 million private equity fund under LaunchBay Capital to invest in growth-stage companies. Targeting $25–50 million deals, the fund will focus on sectors like tech, finance, and manufacturing.

from Tech-Economic Times https://ift.tt/Kzrcew4

ISRO achieves docking of SpaDeX satellites for second time

ISRO has successfully completed a second autonomous satellite docking under its Spadex mission, a key milestone for future space endeavours. The experiment included inter-satellite power transfer and builds on earlier trials. It supports ISRO’s long-term goals, including a space station and human lunar mission.

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Countries shore up their digital defenses as global tensions raise the threat of cyberwarfare

Russian hackers targeted Texas water plants in a 2023 cyberattack, testing US infrastructure vulnerabilities. Experts warn of rising global cyberthreats amid geopolitical tensions. With AI-driven threats growing, calls for stronger US defenses intensify, though Trump-era cuts to cybersecurity programs have sparked concern. China, Iran, and others also expand cyber efforts.

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NBFC Finodaya Capital raises $2.5 million from White Venture Capital, others

Finodaya, which received its NBFC licence from the Reserve Bank of India on April 11, plans to offer micro loans against property to small businesses and micro enterprises across India and establish physical branches, cofounder Lokendra Tomar told ET.

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BluSmart bond holders may invoke immediate repayment provisions

BluSmart Mobility, which raised approximately Rs 100 crore through non-convertible debentures (NCDs) from high-net-worth individuals and retail investors, may soon face an ‘Event of Default’ demand from bondholders.

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India, Indonesia not kind to cloud kitchens, says Uber cofounder Travis Kalanick

In conversation with investor Peter Diamandis at the 2025 Moonshot Summit, former Uber CEO and cofounder Travis Kalanick said he went into markets he shouldn't have. "Just so happens, you can't make money on [cloud] kitchens in India," he said, adding that Indonesia and Columbia are to be avoided as well.

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BluSmart allegations will erode investor trust, warns former BSE chairman S Ravi

Former BSE chairman S Ravi warned that mishaps like Gensol could shake the confidence of investors in the new ventures and tarnish the credibility of even the well-established startups. Going forward, he suggested that startups and the promotors should communicate more and make more honest disclosures to stop such incidents.

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ETtech Explainer: How Trump tariffs hit Nvidia’s China business, and stock

The US has tightened curbs on export of high-end AI chips to China for the third time, which has exacerbated the pain for semiconductor major Nvidia and its peers amid the Trump tariff-led global uncertainty. As tech stocks lead index routs, we take a deeper look what the barriers could mean for technology and trade.

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Work-life balance: Zepto CEO Aadit Palicha says company's fast paced culture not for everyone

Amid the ongoing work-life balance debate, Palicha made headlines for the wrong reasons last years with his tweet: "Nothing against work-life balance. In fact, I recommend it to all our competitors." In a recent interview with Y Combinator’s Garry Tan, he said join Zepto if you're looking to do the best work of your life.

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BluSmart crisis: Green mobility’s red flag is giving HNIs bond blues

The bondholders’ concerns stem from cash-strapped BluSmart’s failure to raise $50 million in a fresh round and an ongoing probe by markets regulator Sebi into Gensol Engineering—promoted by BluSmart’s cofounder Anmol Singh Jaggi, said people aware of the development. Investors, who trusted the fintech platforms to do a thorough due diligence before syndicating the bonds, have started losing faith.

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Google makes Gemini Advanced free for US college students

The company said Gemini Advanced, including Deep Research, Gemini Live, Canvas and video generation products, will be free for college students. Gemini will be enabled in Google Docs, Sheets and Slides, and Google's experimental image and video generation tool Whisk will also be available, the tech giant said in a blog post.

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‘We almost died’: Zepto CEO Aadit Palicha reflects on Silicon Valley Bank crisis

Zepto had operational funds stuck in SVB ​at the height of the crisis, along with many other Y Combinator-backed startups. According to a WhatsApp poll reported by ET, at least 40 Indian startups backed by YC had between $250,000 and $1 million in SVB, while over 20 startups had deposits exceeding $1 million—leaving them dangerously exposed.

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Nazara to add Rs 800-1,000 crore to M&A war chest

Nazara Technologies is targeting global gaming studios with established intellectual properties, strong teams, annual revenue of around Rs 100 crore and an earnings margin before interest, taxes, depreciation and amortisation (Ebitda margin) of at least 20% for acquisition.

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'Tough, sad for those involved': Boat cofounder Aman Gupta reflects on BluSmart’s troubles

Aman Gupta said incidents like these shake trust in the startup ecosystem and highlighted the importance of strong ethics and compliance. He urged entrepreneurs not just to chase growth, but to focus on building responsible and well-governed companies.

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Spotify says it's back after an hours long outage disrupts thousands of users

Spotify faced a major outage Wednesday, with over 48,000 users reporting issues like app loading, playback, and search errors. The disruption began at 6:20 a.m. ET and was resolved by 11:45 a.m. ET. Spotify denied any security breach and thanked users for their patience.

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Pause on accepting new proposals under IndiaAI after April 22

The government will pause accepting new proposals under the Rs 10,000 crore IndiaAI Mission after April 22 due to high response volumes. The deadline for phase 3 has been extended to April 22. Over 190 proposals were received in earlier rounds, including LLMs and SLMs, which are under evaluation.

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ETtech Explainer: Decoding OpenAI’s new GPT-4.1 model with better coding skills

OpenAI has launched a new set of artificial intelligence (AI) models called GPT-4.1, along with lighter versions GPT-4.1 Mini and GPT-4.1 Nano. These models are designed to do a better job at tasks such as writing code, following instructions, and understanding long documents or conversations.

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Gensol promoter Anmol Jaggi invested in Ashneer Grover's startup using diverted funds: Sebi interim order

An order issued by market regulator Securities and Exchange Board of India (Sebi) on Tuesday detailed various examples of diverting funds that Gensol raised to procure electric vehicles (EVs). A list in the order shows Jaggi transferred Rs 6 crore to his mother, Rs 2 crore to his wife, and Rs 50 lakh to Grover's Third Unicorn.

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Google's spam policy hit by EU antitrust complaint from German media company

Launched in March last year, Google's site reputation abuse policy targets the practice of publishing third-party pages on a site in an attempt to abuse search rankings by taking advantage of the host site's ranking signals, commonly referred to as parasite SEO.

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Scoop: Flipkart product, tech head Jeyandran Venugopal may join Reliance Retail Ventures as CEO

Jeyandran Venugopal, Flipkart’s outgoing chief product and technology officer, will likely head Reliance Industries Limited’s (RIL) consumer-facing businesses. Venugopal is expected to take charge of Reliance Retail Ventures (RRV), which operates platforms such as Reliance Brands, JioMart, Ajio, Tira and other online and offline retail businesses.

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ET Graphics: How geopolitics influences technology

​​Although trade pressures may increase the cost of AI infrastructure projects, Big Tech companies look undeterred indicating continued confidence in the disruptive technology. But factoring in caution for oversupply, some companies are also reassessing expansion plans.

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OpenAI’s Sam Altman calls for new revenue sharing models in GenAI age

OpenAI CEO Sam Altman addressed copyright concerns around its Ghibli-style image generator, clarifying it avoids replicating living artists’ work. He emphasised the need for new revenue-sharing models to support creators in the AI era, calling for a balance between artistic inspiration, consent, and fair compensation as generative tools reshape creative industries.

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Cricketer Jasprit Bumrah backs luggage startup Uppercase as an investor

Indian cricketer Jasprit Bumrah has made his first startup investment in luggage brand Uppercase. The partnership includes co-developing a product line for sportspersons. This reflects a wider trend of cricketers turning investors. Uppercase, backed by Accel, aims to break even soon and may explore a public listing in the future.

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WhatsApp faces outage for the second time, netizens react

According to Downdetector, which tracks downtime on popular platforms, user complaints regarding WhatsApp services surged to over 3,133 at 8:19 PM. Meanwhile, some users also reported experiencing similar issues on Facebook and Instagram, which are also owned by Meta.

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How the crypto industry's political spending is paying off

Since President Donald Trump's inauguration, the Securities and Exchange Commission has dropped lawsuits against major crypto firms such as Coinbase and Kraken, lifting a legal cloud over the industry. An investor in crypto, Trump signed an executive order last month calling for the creation of a national crypto reserve -- a government stockpile containing bitcoin and other digital currencies.

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Smartphones and computers get reprieve from new US tariffs on China

The exemptions are not a full reprieve. Other tariffs will still apply to electronics and smartphones. The Trump administration had applied a tariff of 20% on Chinese goods earlier this year for what the administration said was the country's role in the fentanyl trade. And the administration could still end up increasing tariffs for semiconductors, a vital component of smartphones and other electronics.

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TCS calls up group veterans to lead the voyage into AI

The IT giant has also created a new position of chief strategy officer appointing Mangesh Sathe, who currently is the chief executive of Tata Strategic Management Group. Sathe, who had previously worked as a principal with the Boston Consulting Group, will also head the Global Consulting Practice and oversee the M&A functions at TCS once he joins in May.

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Chinese electronics company Anker starts raising prices on Amazon

US import tariffs on Chinese products now stand at 145%. Beijing on Friday raised its tariff on U.S. goods to 125%, as a trade war between the world's top two economies intensifies. The move follows warnings from China's largest cross-border ecommerce association that many Chinese companies that sell products on Amazon are preparing to hike prices for the U.S. or quit the market due to the tariffs.

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