NPCI's Bharat BillPay spots a big opening in education fee payments

NPCI Bharat BillPay sees digitising education fee payments as a major opportunity, aiming to onboard schools and colleges onto its Bharat Connect platform. Government initiatives and fintech partnerships are driving adoption, promising efficiency and transparency in institutional payments.

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India needs to develop its own foundational AI models to compete globally: Perplexity CEO

CEO Aravind Srinivas said Perplexity is exploring ways to expand similar AI integrations globally but remains focused on solving problems unique to India.

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EU's AI policy pivot due to overall sense of overregulation: Michael McNamara

The EU recently withdrew its AI Liability Directive, which was first proposed in 2022 and proposed to penalise offending organisations for causing harm through AI systems. The European Union's AI regulation came into effect in August 2024, with various provisions of the Act coming into effect through 2025 till 2027.

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HD Hyundai Heavy Industries looks to build shipyard in India; scouting for locations and tie-ups

South Korea’s HD Hyundai Heavy Industries is exploring shipyard locations in India, visiting Tamil Nadu and negotiating with Andhra Pradesh and Maharashtra. The move aligns with India's shipbuilding expansion, aiming for global market growth and technology collaboration.

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Uber’s private car ride-share service starts from Assam

The service will begin in Assam, with women and army veterans as drivers, serving as a case study for Uber to pitch it to other states. Globally, including the US, the UK and Australia, Uber is permitted to onboard private car owners as taxi operators, something that the company has been pushing for in India as well.

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Infosys pay hikes

Infosys rolls out salary revision letters with 5-8% average hikes.

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MOC Cancer Care raises $18 million from Elevation Capital

The funds will be used for expanding operations, opening new centres, and diversifying the range of services offered, said the Mumbai-based company that operates in the daycare oncology space, focusing primarily on chemotherapy and the medical management of cancer.

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ETtech Explainer: How is Sonnet 3.7 hybrid reasoning model different from rest of AI pack?

Claude 3.7 Sonnet, which comes after Claude 3.5 Sonnet in Anthropic's family of models, is an ordinary LLM and a reasoning model rolled into one. Some commentators and early testers on X called the model “amazing for programming” and “the best coding AI model”. It has been made available on coding platform GitHub and on AI-powered search engine platform Perplexity AI.

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Flipkart’s Super.money acquires BharatX’s tech, key team members to expand credit offerings

This deal does not involve a full acquisition of BharatX, a Y Combinator-backed fintech credit startup, given its existing credit-related liabilities.

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Nvidia takes EU antitrust regulators to court for probing AI startup Run ai bid

While the case does not have any impact on the Run:ai deal which was eventually approved by the EU competition watchdog in December last year, a ruling favouring Nvidia may further curb the regulator's merger power.

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Low PC penetration, Windows 10 upgrade to fuel Snapdragon X growth in India: Qualcomm SVP

​​ Qualcomm Technologies senior vice president and general manager for compute and gaming Kedar Kondap said the company is looking to replicate its smartphone success story in the personal computing space also.

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Hornbill submits $200 million bid to invest in Dhan at $1.25 billion valuation

Hornbill Capital, an India-focused hedge fund backed by Asian private equity firm Orchid Asia, has joined the war for stock market trading platform Dhan. Sources told us the fund has submitted a $200 million bid for Dhan at a $1.25 billion pre-money valuation.

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Battery-swapping companies cash in on quick commerce’s EV turn

The increasing adoption of electric vehicles for last-mile deliveries in quick commerce is driving business for startups focused on charging infrastructure and battery-swapping services. Platforms like Blinkit, Zepto, Swiggy Instamart, and Flipkart’s Minutes, which compete in the fast-growing but highly competitive quick commerce market, are turning to EVs to cut delivery costs.

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Meta lays off 3,600 workers—Then hands execs up to 200% in bonuses

Meta has increased executive bonuses to 200% of their base salary while laying off 3,600 employees, citing “low performance.” The decision, justified as an alignment with industry standards, has triggered backlash online. Many accuse Meta of prioritising top executives over workers. Former employees claim layoffs were more about cost-cutting than performance. While some acknowledge the pay hike as standard practice, the timing has raised serious ethical concerns about Meta’s treatment of its workforce.

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AI opens 'endless' doors for fashion models, closes others

In the fashion industry, artificial intelligence is already used by brands to create visual imagery for e-commerce websites and customised advertising campaigns at a lower cost. While the technology opens up opportunities for some, critics fear AI will render many professionals, including models, make-up artists and photographers obsolete -- and could risk promoting an artificial standard of beauty.

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OpenAI bans Chinese accounts for social media surveillance

The report reveals that the banned accounts were generating descriptions for a social media listening tool that provided real-time reports on anti-China protests in Western countries to Chinese security agencies.

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Officials are fired at traffic safety agency investigating Elon Musk's company

The National Highway Traffic Safety Administration has three active investigations of Tesla, according to agency documents, including one examining whether the company's autonomous driving software is prone to failure when visibility is poor.

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OpenAI CEO Sam Altman welcomes baby boy, expresses ‘never felt such love’

“Welcome to the world, little guy! He came early and is going to be in the NICU for a while. He is doing well and it’s really nice to be in a little bubble taking care of him. I have never felt such love,” Altman posted on X.

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RBI move to formalise debt collection may complicate recovery, say experts

In a notification issued on January 17, the central bank said transactional calls by banks, mutual fund companies and other such financial service providers should only be undertaken through the ‘160’ series of contact numbers.

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OpenAI uncovers evidence of AI-powered Chinese surveillance tool

The company's researchers said they had identified this new campaign, which they called Peer Review, because someone working on the tool used OpenAI's technologies to debug some of the computer code that underpins it.

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Indian chip buzz catches the eye of specialty chemicals companies

Merck and Linde plan to set up specialty chemicals and gases facilities in India to support semiconductor manufacturing. Their investments signal growing global interest in India’s chip ecosystem, crucial for ensuring supply chain reliability and industry growth.

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Karnataka Cabinet approves Rs 75 crore seed fund for startups, Rs 79 crore for semiconductor lab

The ‘Beyond Bengaluru Cluster Seed Fund’ subsumes similar seed funds setup earlier for Mysuru, Mangaluru and Hubli- Dharwad and Kalaburagi regions. The fund will target to promote 10,000 startups in regions beyond Bengaluru by 2030.

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Clearview AI names Hal Lambert and Richard Schwartz as co-CEOs

Clearview AI serves US law enforcement agencies by providing a facial recognition search engine, sourced from the public internet, including from news media, mugshot websites, public social media and other open websites.

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‘AI, quantum pivotal to India’s Mission 2047’: Report

India's path to a developed economy by 2047 hinges on AI, quantum tech, and digital manufacturing. Nasscom-Bain report highlights AI-driven services, electronics growth, and tech innovation as key drivers for GDP expansion and global leadership.

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Ex-Intel executives raise $21.5 million for RISC-V chip startup

Cofounder and CEO Debbie Marr said it was an opportune moment for a startup that relies on RISC-V technology because it avoids the pitfalls of the x86 architecture used by Intel and Advanced Micro Devices and the problems associated with relying on a single supplier - Arm Holdings - for the underlying designs.

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WhatsApp faces EU tech rules after reaching very large platform status

After receiving the designation, a platform has four months to comply with the DSA requirements including identifying and assessing system risks related to illegal content, fundamental rights, public security and protection of minors.

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MeitY standardises government’s digital footprint with rejigged site launch

The IT ministry launched a revamped website under the new Digital Brand Identity Manual (DBIM) to standardise government digital platforms. Five other ministries will follow, ensuring a user-friendly experience and enhancing trust in government digital services.

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ETtech Explainer: Mistral Saba and the global push for multilingual AI models

Indian startups developing Indic AI models face competition from global players like Mistral AI, which launched a multilingual model trained in Arabic, Tamil, and Malayalam. However, regional nuances remain a challenge for these global competitors.

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Genpact spending millions to create AI solutions: CEO

Genpact will leverage a combination of autonomous agents with humans in the loop. While Genpact is changing its working model and solution set, the organisation will retain its industry vertical-based internal structure, CEO BK Kalra told ET in an interview.

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Bidders flag end-of-life GPUs offered under IndiaAI Mission

Bidders expressed concerns about Nvidia A100 GPUs, declared end-of-life (EOL), being used in the IndiaAI Mission. They questioned the viability and support for older models, despite their cost-effectiveness, and highlighted potential issues with performance and technical support.

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Lenskart sharpens focus on IPO at $10 billion valuation

Omnichannel eyewear retailer Lenskart has started the process of its initial public offering (IPO) and is looking to file its draft papers by May, sources told ET. The company is set to enter the public markets with a $10 billion valuation, double its previous funding round.

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Security concerns push nations away from DeepSeek revolution

Governments worldwide, including Australia, Italy, Ireland, South Korea, and the Netherlands, are cracking down on DeepSeek's R1 AI model. They are concerned by the model's data collection practices, potential for censorship, and risk of sensitive information being shared with the Chinese government.

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Broadcom, TSMC eye possible Intel deals to split storied chipmaker

Broadcom and TSMC are exploring deals to split Intel, with Broadcom eyeing its chip-design unit and TSMC considering its manufacturing plants. Talks remain preliminary, informal, and independent.

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Uptake of technology, scale of population, and local innovation make India an exciting market: Cameron Adams

Adams, who is on his first visit to India, recently told ET that he expects the country to become Canva’s largest market in three to five years. The Sydney-headquartered company has more than 200 million users worldwide.

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Top startup and tech 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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India’s AI race heats up as entrepreneurs, researchers, and startups vie for IndiaAI Mission funding

India’s AI race heats up as entrepreneurs, researchers, and startups vie for IndiaAI Mission funding. With Rs 1,500 crore support and subsidised GPUs, innovators like Ayush Gupta, Aaditya Kirti, and Sahil Gulati aim to build sovereign AI models.

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Meta plans major investment into AI-powered humanoid robots

Meta is investing in AI-powered humanoid robots, focusing on household tasks and AI infrastructure for third-party manufacturers. Led by Marc Whitten, the initiative aims to advance robotics using Meta’s AI and AR/VR expertise.

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‘Google’s US DEI rollback unlikely to hit other markets’: Senior Google policy executive

Google’s DEI rollback is US-specific, not global, says executive. He highlights AI’s potential in India, the need for aligned data laws, and balanced AI regulation. PM Modi’s US visit underscores technology’s growing role in strengthening India-US ties and collaboration.

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PM Modi meets Elon Musk during US visit

"We discussed various issues, including those he is passionate about such as space, mobility, technology and innovation. I talked about India’s efforts towards reform and furthering ‘Minimum Government, Maximum Governance'," PM Modi said in a post on X.

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Mature nodes more viable for fabless sector in India: Marvell India manager Navin Bishnoi

The Santa Clara-headquartered company with $5.5 billion revenue has three R&D centres in India and is looking to double its capacity at its Bengaluru office this year to ensure that growth is managed both in terms of headcount as well as capability, Navin Bishnoi, Marvell’s India country manager, told ET.

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Micron seeks partner to construct Phase-2 of Sanand chip plant

Micron Technology is inviting bids for Phase 2 of its Sanand, Gujarat semiconductor facility, with L&T and KEC International among contenders. Phase 1, initially set for 2024, now targets early 2025 completion.

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YouTube is the new TV: CEO Neal Mohan spells out company’s 2025 bets

CEO Neal Mohan said YouTube should be seen as “next-generation studios” and highlighted that the YouTube Partner Program has paid out over $70 billion to creators, artists, and media companies in the past three years.

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OpenAI's Altman says Musk offer is tactic 'to try to mess with us'

OpenAI CEO Sam Altman dismissed Elon Musk's offer to buy the nonprofit controlling OpenAI, calling it "ridiculous" and a tactic to disrupt the company. Altman firmly stated that OpenAI is not for sale while speaking at an AI summit in Paris.

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ToneTag secures $78 million in mix of primary, secondary capital

The Bengaluru-based digital payments startup bagged the funding from stock market veteran Ravi Dharamshi’s PE fund ValueQuest Scale Fund and VC fund Iron Pillar. Existing investor Elevate Capital also participated. Strengthened by the fresh funds, the company aims to scale operations in India and go global too.

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EU digital chief: I will enforce AI regulation in innovation-friendly manner

"I agree with industries on the fact that now, we also have to look at our rules, that we have too much overlapping regulation," Commission Vice President Henna Virkkunen told Reuters on the sidelines of an AI summit in Paris.

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The qcomm marketing splurge; IndiaAI’s GPU bidding war

Happy Monday! Rising competition in quick commerce is driving heavy spending on performance marketing. This and more in today’s ETtech Morning Dispatch.

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ER&D services companies face headwinds, growth slowest in four fiscal years

A large part of the dent is because of the increasing costs, competition and regulatory changes reducing client spends impacting the automotive manufacturing sector in key European regions, industry experts say.

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AI mission GPU tender bidders asked to match L1 prices by February 12

Given that the bids are very competitive, companies will see the market uptake of graphics processing unit (GPU) models and then plan their investment and inventory accordingly, said some of the bidders.

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Microsoft, Nvidia, the tech giants taking a quieter approach to Trump

Nvidia and Microsoft take different approaches to navigating Washington's politics. While Microsoft is experienced in lobbying, Nvidia is a newcomer, rapidly growing due to its dominance in AI chip manufacturing.

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Bumpy ride: Auto industry stuck with excess semiconductor stock post-pandemic

Chip sales in the auto sector skid as the post-pandemic frenzy turns into an inventory glut. With tapering of sales and other expected challenges, the industry isn’t prepared to get out of second gear.

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DeepSeek’s rise proves disruption no longer reserved for richest players: Niti Aayog paper

NITI Aayog’s paper highlights China’s DeepSeek as a disruptive AI leader, urging India to seize the opportunity for innovation and ethical AI development, positioning itself as a global AI disruptor and advocate for responsible AI.

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Amazon to pay nearly $4 million to settle lawsuit alleging it took tips from drivers

Amazon will pay nearly $4 million to settle charges it took tips from delivery drivers, misleading customers about how tips were used, following a 2022 lawsuit by DC's attorney general.

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OpenAI's Altman envisions Stargate-like programme for Europe

OpenAI CEO Sam Altman expressed interest in launching a Stargate-like AI program in Europe, while announcing a new Munich office as part of European expansion plans.

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Flipkart Minutes eyes 550 dark stores before ‘Big Billion Days'

Flipkart plans to expand its quick commerce segment by launching 500-550 dark stores before its Big Billion Days sale, aiming to challenge rivals like Blinkit, Zepto, and Swiggy Instamart, with a goal of 300 stores by March 2025.

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OpenAI eyeing more data centers in Texas, other states for Stargate: Report

Stargate, a venture by OpenAI, Oracle, and SoftBank, is planning additional data center campuses in Texas and 13 other states, aiming to invest $500 billion to advance US AI infrastructure and competitiveness.

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Infosys to roll out annual hike letters before end of March

“Those falling at and below job level five (JL5) will receive hikes with effect from January 1 and those at job level six (JL6) and above will get the revised pay from April 1,” chief human resources officer Shaji Mathew told employees in a townhall at the Infosys campus in Bengaluru, the people said.

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OpenAI's Altman to stop in Abu Dhabi for MGX fundraising talks, sources say

OpenAI CEO Sam Altman is visiting the UAE to discuss raising $40 billion with Abu Dhabi's MGX, aiming to fuel AI development and compete with China’s DeepSeek, as the UAE invests heavily in AI infrastructure.

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China mulling probe into Apple's app store fees, practices: Report

The development comes a day after China announced a wide range of measures targeting US businesses including Google, farm equipment makers and the owner of fashion brand Calvin Klein, minutes after new US tariffs on Chinese goods took effect.

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‘Edtech may stay in the slow lane this year as companies grapple with AI’: Deborah Quazzo

Investments in edtech are slow, with AI integration becoming essential. Deborah Quazzo of GSV Ventures cites Byju’s as a cautionary tale for founders, highlighting issues like rapid expansion and governance. She anticipates several edtech companies going public in the next 2-3 years.

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Banks to take on fintechs with feature-packed merchant apps

Fintech firms like BharatPe and Paytm face increasing competition from banks such as HDFC, ICICI, Axis, and SBI, which are launching merchant-focused platforms. Banks aim to regain market share by offering payments, loans, and banking services with higher compliance.

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Experts flag APAAR risks as institutes push enrollment

Experts raise privacy concerns about the centralised APAAR student ID database, questioning its efficacy in obtaining verifiable parental consent under the DPDPA. While some see APAAR as a solution for streamlining consent, others highlight the lack of clear data protection guidelines and potential vulnerabilities of such a large repository.

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Centre’s tax clarity on VC asset sales to reduce litigation

Previously, the reading of the Income Tax Act led to proceeds from exits to be considered business income for domestic alternative investment funds (AIFs), leading to these firms paying income tax.

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Generative AI's environmental impact in figures

The surge in generative artificial intelligence (AI) is being met with growing fears about the technology's ecological footprint, one of the top questions up for discussion at a global summit in Paris on February 10-11. GPT-3 requires around half a litre (one pint) of water to generate between 10 and 50 responses, according to a conservative estimate from researchers at the University of California Riverside and University of Texas at Arlington.

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Trump and Nvidia CEO discuss DeepSeek, AI chip exports during meeting, source says

"I can't say what's gonna happen. We had a meeting. It was a good meeting," Trump said. The Friday afternoon meeting came as the government is set to further restrict AI chip exports this spring to ensure advanced computing power remains in the United States and among its allies, while looking for more ways to block China's access.

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'Been on the wrong side of history': Sam Altman on OpenAI's closed-source approach

“I personally think we have been on the wrong side of history here and need to figure out a different open source strategy; not everyone at OpenAI shares this view, and it's also not our current highest priority,” said Sam Altman in Reddit, on social networking platform.

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Top startup and tech 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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‘India AI mission GPU hourly pricing aggressively low’

India's AI mission GPU tender saw aggressive bidding, with average prices at Rs 115.85 per GPU hour, far below the global average of $2.5-3. Bidders like Jio, E2E, NxtGen, Locuz, and CtrlS quoted low rates, raising concerns among competitors about global clients demanding similar pricing.

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DeepSeek's answers include Chinese propaganda, researchers say

Since the tool made its debut this month, rattling stock markets and more established tech giants like Nvidia, researchers testing its capabilities have found that the answers it gives not only spread Chinese propaganda but also parrot disinformation campaigns that China has used to undercut its critics around the world.

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