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.

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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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