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

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

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

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

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Premji's deeptech bets; Razorpay gets IPO nod

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

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Anthropic says revenue surged 1,100% ahead of IPO

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

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

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

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OpenAI’s India user base doubles; Rapido GOV quadruples

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

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

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

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Fintechs fortify cyber defences; Logistics cos in the speed lane

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

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Festive spending drives record UPI transactions in October

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

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OpenAI cuts funding target by $10 billion: FT

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

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Bitcoin, cryptocurrency prices fall after Binance reports security issue

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

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Rising tech costs drive EMI sales; Shadowfax Q2 profit soars

Happy Friday! Shoppers are turning to EMIs as electronics prices rise. This and more in today’s ETtech Morning Dispatch.

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Meesho Q2 loss narrows; Info Edge names Sanjeev Bikhchandani CEO

Happy Thursday! Meesho’s losses shrunk as revenue grew in the second quarter of FY27. This and more in today’s ETtech Morning Dispatch.

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Anthropic tells California governor courts should be able to block risky AI models

Anthropic itself has faced government restrictions on its AI systems. The Trump administration in June ordered Anthropic to immediately restrict foreign access to its cyber-capable Mythos 5 and Fable 5 models, citing national security concerns. The US Commerce Department later lifted the order.

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US agency is again probing if Polymarket broke 2022 settlement, sources says

A US regulator is investigating whether prediction market operator Polymarket violated a 2022 enforcement deal in which it promised to ban US users from its main overseas platform, reviving an inquiry the agency shuttered last year without bringing

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Cognizant eyes Sarvam stake; Ather aims for higher market share

Happy Wednesday! Cognizant has held discussions to invest in homegrown AI startup Sarvam. This and more in today’s ETtech Morning Dispatch.

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Snabbit's Aayush Agarwal on the $100B Home Services Opportunity | The Brand Equity Show

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Why Walmart would rather keep Flipkart private, for now

Over the past few weeks, much has been written about former employees of the online commerce company writing to Walmart's board, asking for liquidity on the stock options they were granted 10 to 15 years ago. On October 1, at least eight former senior executives, among them former Myntra CEO Mukesh Bansal and former chief business officer Ankit Nagori, wrote to Walmart chairman Gregory Penner, other board members and Flipkart Group CEO Kalyan Krishnamurthy, seeking a complete exit for all former employees holding vested options.

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VerSe valuation sinks; Paytm Q2 profit rises

Happy Tuesday! Dailyhunt parent VerSe Innovation’s valuation has taken a sharp hit. This and more in today’s ETtech Morning Dispatch.

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Talent, compute and R&D key to India's AI ambitions: Report

India will need to strengthen its talent pool, research and development (R&D) capabilities, computing infrastructure and data systems to translate advances in artificial intelligence (AI) and other emerging technologies into economic and social benefits, according to a report by KPMG.

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Unacademy founders plan AI fund; Flipkart’s premium push

Happy Monday! Unacademy’s founders are raising a fund focused on AI and deeptech. This and more in today’s ETtech Morning Dispatch.

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Amazon cloud capacity sold out through 2027, CEO Jassy says

Amazon CEO Andy Jassy said on Friday that Amazon Web Services' cloud computing capacity is largely sold out through 2027, with significant commitments extending into 2028, on growing demand for AI infrastructure.

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Apple India revenue grows 32% to cross Rs 1 lakh crore mark in FY26

"Apple India Private Limited provides and markets Apple brand products and software, and reported its revenues for the financial year 2025-26 at Rs 1,04,607 crore, a 32 per cent jump since the last financial year," Tofler said.

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Swiggy narrows loss in Q2; eMudhra cofounder on what went wrong

Happy Friday! Swiggy reported a rise in revenue in Q2 FY27 while cutting its losses. This and more in today’s ETtech Morning Dispatch.

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Swiggy CEO Sriharsha Majety says rival Blinkit has the stronger flywheel, aims to fix basics before expanding

He said Swiggy’s priority is a stable business with “the clearest line of sight to Ebitda zero,” and that it would not use its cash reserves to open new fronts simply because the money is available. “I think our first job is to build a stable, resilient business that has the clearest line of sight to EBITDA zero. The optionalities come after that,” he said on the call following the announcement of the company's September quarter results.

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Meta ordered to pay New Mexico $25 billion after jury finds it deceived Facebook users about privacy

Jurors in September found Meta liable for over 43 million violations of New Mexico consumer protection laws when a political consulting firm, Cambridge Analytica, harvested Facebook user data to generate targeted political ads for the 2016 election.

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Explained: What is PHP and why did it take government websites offline?

The developers of PHP said on Wednesday they would release patches for two critical vulnerabilities, and EU cybersecurity officials warned organisations unable to apply the fixes to take affected websites offline. Here is what you need to know:

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Anthropic recorded net loss of over $80 billion in first half of this year

AI startup Anthropic recorded a net loss of more than $80 billion in the first half of this year, the Wall Street Journal reported on Tuesday.

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Netflix issues weak fourth-quarter forecast, shares drop

Third-quarter revenue rose 11.8% to $12.87 billion, in line with Wall Street forecasts, but the lowest rate of increase in nearly three years. The company forecast fourth-quarter net income of $2.79 billion and EPS of 67 cents, below the average analyst forecast of $3.07 billion and 73 cents.

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Rapido says man linked to Tiger Shroff shooting incident was not an active captain

Shroff, who was reportedly the target of the attack, escaped unhurt. In a statement posted on social media, Rapido said it was “deeply concerned” by the incident involving the actor and his team and was relieved that he was safe. It also wished him a swift recovery.

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Lab-grown diamond startup So/Facet raises Rs 10 crore led by Sauce

The round also saw participation from Mokobara cofounders Sangeet Agrawal and Navin Parwal, Chona Family Office (that’s behind Hocco Ice Creams), Haleon South Asia president Kedar Lele, and Moonshot co-founder Devaiah Bopanna.

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Netflix faces questions on user engagement ahead of third-quarter report

Ted Sarandos, the co-CEO of Netflix, recently admitted the company "is not growing as fast as I want us to", and suggested live programming could be an opportunity to accelerate growth.

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ISB programme explores AI’s growing role in the future of digital finance

The Executive Programme in Fintech and AI at ISB is crafted to equip finance professionals with cutting-edge skills in financial services. Spanning 32 weeks, this program offers live online sessions alongside engaging experiential learning. Participants will delve into real-world applications of fintech, artificial intelligence, and blockchain. Tailored for senior finance leaders, this course seeks to enhance strategic decision-making. Applications for the next cohort are now open, creating valuable networking opportunities.

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Samsung to use TSMC technology for Nvidia's next-generation memory chips: Report

Nvidia has asked Samsung, SK Hynix and Micron Technology to use TSMC's process for NVHBM base dies, and sixth-generation DRAM technology for its core dies, the newspaper said, citing industry sources.

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Only 8% of fund managers report improved investment returns from AI adoption: Report

Despite growing adoption of artificial intelligence (AI) in the global asset management industry, only 8 per cent of fund managers have reported measurable improvements in investment returns, according to a joint research report by Morgan Stanley and Oliver Wyman.

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Microsoft pulls out of UK data center deal with Nscale: Telegraph

The US tech giant, one of Nscale's two largest customers, recently terminated its agreement for the data center in Loughton, Essex, according to the report.

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AI bubble burst may trigger 2008-like banking crisis, says Gary Marcus

In a recent discussion, Gary Marcus raised critical flags about OpenAI's fiscal responsibilities as the stock market faces instability. He warned that the demise of leading AI firms could trigger extensive financial repercussions. Notably, Marcus compared the current climate to WeWork's disastrous decline, suggesting that Microsoft might pick up OpenAI at a bargain.

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‘Dad, the internet at home is too slow’: How Jio’s founding idea took shape

Isha Ambani's concerns regarding poor household internet sparked important conversations about India's digital landscape, leading to transformative innovations. In response, Mukesh Ambani pioneered Reliance Jio in 2011, aiming to enhance mobile connectivity across the nation. Its launch in September 2016 revolutionized the telecom sector by offering affordable data and complimentary voice services.

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From shareholders to partners: How Google and Meta’s Jio investments evolved into an AI alliance

Meta and Google, originally minority shareholders in Jio Platforms, are now forming strategic partnerships with Reliance. The new collaborations focus on enterprise AI initiatives and dedicated cloud infrastructure in India. Meta's joint venture will leverage Llama models for developing AI platforms, while Google focuses on establishing cloud services. Both companies aim to enhance Reliance's capabilities in AI and cloud technology sectors.

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Nvidia, Apple each gave $25 million for Trump's ballroom: Washington Post

The Adelson family, longtime financial supporters of Trump and his Republican Party, committed $25 million as well, as did billionaire Charles Ergen, co-founder and chairman of telecommunications company Dish Network, the report added.

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CoreWeave's slump puts spotlight on debt behind AI boom

The loss-making AI cloud company, burdened with about $50 billion in debt, has become the poster child for mounting concerns that the data center boom is being fueled by credit, straining newer players and pressuring cash flows even at giants such as Alphabet and Meta Platforms.

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Skyroot eyes funding boost; MDR deferment cheers D2C brands

Happy Thursday! Skyroot is eyeing a big funding round as it gears up to scale rocket production. This and more in today’s ETtech Morning Dispatch.

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Eight US states sue OpenAI, claiming ChatGPT harms children

The lawsuits, which were filed in state courts, are seeking an order forcing OpenAI to make changes to how ChatGPT works for children. The states are also seeking an order forcing the company to give up profits it has generated from young users.

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Healthtech startup Confido Health raises $12.5 million in funding led by Z47

Founded in 2022 by Chetan Reddy and Vichar Shroff, Confido Health develops artificial intelligence (AI) agents that automate administrative tasks for healthcare providers, including patient calls, appointment scheduling, insurance verification, prescription refills and payment follow-ups.

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Delaware jury awards Qualcomm $2 in damages, finds Arm breached license agreement

A Delaware jury awarded Qualcomm $2 in nominal damages after finding Arm Holdings breached its architectural license agreement and intentionally sought to disrupt Qualcomm's business, a Qualcomm spokesperson said on Tuesday.

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In a first, AI helps UK lawmaker find her voice in parliament

A British lawmaker made history on Tuesday by becoming the first person to use an AI-generated voice to deliver a speech in the UK parliament. During a debate about health on Tuesday, AI software was used to recreate the sound of her voice, as it used to be, to read a speech she wrote herself.

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Meta releases Muse Wonder AI models to challenge Anthropic and OpenAI

The launch comes after CEO Mark Zuckerberg pledged billions of dollars and aggressively poached researchers over the past year to catch up in Silicon Valley's intensifying AI race.

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ETSA 2026: Over a decade on, India's startup story is only getting started

The 12th edition of The Economic Times Startup Awards (ETSA) captured this transition, reflecting an ecosystem that has moved beyond the race for scale to pursue technological depth, durable businesses and international markets.

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Nvidia in talks to invest further in Reflection AI or buy it: FT

Talks are at an early stage and a deal could take several forms, including a so-called acqui-hire arrangement where Nvidia would hire staff and license technology rather than pursue a full acquisition, potentially avoiding a lengthy regulatory review, the newspaper said.

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India's Infosys does not expect material impact from US PERM suspension

The US government said on Thursday it was suspending some major global tech and IT firms, including Infosys, from the PERM green card program, which allows skilled foreign workers to gain permanent residency in the US through their employment.

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India Mobile Congress 2026 concludes with focus on agricultural AI, 5G automation and last-mile connectivity

Held over four days under the theme 'Scale Without Boundaries', the event brought together policymakers, industry leaders and technology developers to discuss applications of emerging technologies and their role in driving inclusive digital growth.

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‘We are a self-respecting country’: Piyush Goyal on Russian oil and US tariff threat | ETSA 2026

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Every H-1B visa not granted is a big win for India: Piyush Goyal | ET Startup Awards 2026

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Startups will crown new champions today at 12th ET Startup Awards in Bengaluru

Union minister for commerce and industry Piyush Goyal will be the guest of honour at the event, which will bring together a strong mix of past and present ETSA winners and nominees, alongside leading voices from India’s new-economy landscape. Goyal is expected to speak about the government’s efforts to deepen and expand the country’s emerging business ecosystem.

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Trump plans to honour Microsoft's CEO after Vance drops H-1B visa hammer on company

The crackdown on Microsoft came under Vance's purview as the head of a fraud task force, but the targeting revealed the tension between the companies powering US economic growth and the administration's efforts to reduce immigration that it says has come at the expense of American workers.

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Startup of the Year Groww bets on scale; Qcomm sparks festive credit surge

Happy Thursday! Groww is betting its newer businesses will take a bigger slice of its income. This and more in today’s ETtech Morning Dispatch.

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Anthropic launches third Claude 5.5 model, expanding AI lineup before planned IPO

Haiku 5.5 is built for tasks such as classification, summarization and extraction, including live support, voice agents and in-app assistants. It costs 75% less than its predecessor, Haiku 4.5.

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Apple's Tim Cook praises EU over efforts to protect children online

Apple executive chairman Tim Cook on Tuesday pledged the US giant would protect children online and praised the EU's efforts to ensure minors' safety after a visit to the European Parliament in Strasbourg. The Apple chairman met European Parliament President Roberta Metsola earlier on Tuesday as well as EU lawmakers focused on children's safety.

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Google fights £1 billion UK lawsuit over app store fees in latest Big Tech case

The case - brought on behalf of around 20 million consumers who bought apps through Google's Play Store, or paid for in-app purchases and subscriptions between 2015 and this July - is the latest brought in Britain against Big Tech.

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Wikipedia operator says OpenAI's rogue agents possibly tied to data service disruption in May

In a blog post issued on Monday, Wikimedia said it could confirm "that we have discovered some activity by these 'rogue' OpenAI agents on Wikimedia platforms," including a May incident that resulted in a "partial outage" of its data service.

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AM Intelligence plans $20 billion additional investment in 15 months, orders 20k more Nvidia GPUs

The company announced that it has placed two further firm and binding orders for 20,000 NVIDIA Rubin GPUs for deployment of the systems across India and Malaysia, taking its total capacity to 100 Megawatt.

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OpenAI's Sam Altman says AI benefits warrant accepting some risks

OpenAI Chief Executive Sam Altman said the benefits of artificial intelligence justify accepting some risks and argued the technology should remain broadly accessible to the public "

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Menlo Ventures on AI slowdown; Ola Electric CEO pledges stake

Happy Monday! Menlo Ventures, an early Anthropic backer, says the real AI constraint is compute, not a slowdown in frontier models. This and more in today's ETtech Morning Dispatch.

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Nykaa expects net revenue growth in late twenties in Q2

Nykaa said fashion was a faster-growing vertical, with NSV expected to grow in the late forties and net revenue in the early forties. Nykaa said more than 250 brands were added during the quarter and that its partnership with Nike continued to see "encouraging early traction," supported by exclusive drops.

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Karnataka gig workers seek implementation of welfare schemes

In a letter to the board’s chief executive officer, Indian Federation of App-based Transport Workers (IFAT) and Karnataka App-based Workers Union (KAWU) sought immediate rollout of health and accident insurance, income support during medical emergencies and temporary disablement, maternity benefits, scholarships for children of platform workers and an emergency distress fund.

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India fastest-growing Asia market for NetApp; BFSI and public sectors key growth drivers: CEO

The San Jose-based data infrastructure company has also grown its global capability centre in Bengaluru, with the majority of global R&D processed out of the centre. With a team of about 4,000 engineers, the centre is the largest for NetApp and is core to the global innovation work for the company across technology areas.

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Twitter cofounder Jack Dorsey's app Bitchat removed by Apple in India

Apple has removed Jack Dorsey-backed offline messaging app Bitchat from its India App Store following a government takedown order under Section 69A of the IT Act.

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Dutch eyewear chain Hans Anders halts sale of Meta glasses, citing privacy concerns

"This decision follows the ongoing public and political debate surrounding smart glasses and the questions being raised about the conditions under which this technology can be used," a spokesperson for the Hans Anders chain said.

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SoftBank completes final phase of $30 billion investment in OpenAI

SoftBank Group said on Thursday it has completed its $30 billion investment in OpenAI as part of its commitment to the ChatGPT maker's last fundraising round. Here are some other

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California attorney general opens probe into OpenAI over cybersecurity concerns

Last month, Bonta announced that the Department of Justice was conducting a formal investigation into the "Hugging Face incident," amid increasing scrutiny of the AI industry.

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AI agents tried to hack Canadian government website, research firm says

AI agents tried to hack into a Canadian government website, an AI research firm said on Wednesday. The agents attempted to access Library and Archives Canada on May 8 and on June 9, AI research firm Transluce said in a blog post.

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Palmonas' offline push; IndiaAI's GPU crunch

Happy Thursday! Demi-fine jewellery brand Palmonas is betting on offline stores, cofounder Pallavi Mohadikar said. This and more in today’s ETtech Morning Dispatch.

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FTC opens probe into AI giants including Anthropic and OpenAI, source says

The Federal Trade Commission is opening a sweeping probe into Anthropic, OpenAI and other AI labs to uncover the potential dangers their technology poses to consumers, a source familiar with the matter told Reuters on Wednesday.

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Tiger Global, Dragoneer in talks to invest in Kalshi's new $1 billion fundraise

The fresh capital raise is expected to be finalised in the coming weeks and will value Kalshi at about $40 billion, the sources said, requesting anonymity as the discussions are confidential. It comes on the heels of a $1 billion fundraise in May that valued the firm at $22 billion.

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Anthropic says rogue AI agents pose uncertain legal risk for the company

Anthropic could face legal claims from customers and users over the actions of rogue artificial intelligence agents, though the legal framework is uncertain, the company said in the prospectus for its stock market debut seen by Reuters.

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Union minister Piyush Goyal to headline ET Startup Awards on October 9 in Bengaluru

Goyal has been leading trade negotiations with key partners, including the US, after sealing high-profile deals with the UK, which came into force in July, and the EU, which is expected to take effect early next year. His ministry is also overhauling a raft of laws and regulations to make it easier to do business and to cement India's position as a global manufacturing hub, a push that has coincided with record foreign direct investment (FDI) inflows of $94.53 billion in FY26.

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Trump's AI meeting with tech CEOs to focus on finding balance, US House speaker says

The White House meeting, which will include Mike Johnson, comes as leading AI companies are calling for slowing development of increasingly capable AI systems, warning of the risks to humanity and appealing for governments to work together to manage the increasingly powerful technology.

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Trump said he would dine with Anthropic CEO Dario Amodei amid mounting AI debate

Trump told reporters after returning to Joint Base Andrews in Maryland that he was grabbing dinner at 10 pm with Dario Amodei. The meal comes just two days after Amodei's company faced a setback in a court case against the government over its barring its products for Defense Department work.

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a16z’s Raghuram isn't writing off India AI yet; insurers weigh new rules

Happy Monday! a16z’s Raghu Raghuram said India can build frontier AI companies by using its talent. This and more in today’s ETtech Morning Dispatch.

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China weighs allowing ByteDance, Alibaba to buy new Nvidia chips: The Information

China's Ministry of Industry and Information Technology recently asked companies including ByteDance and Alibaba to report their plans to purchase Nvidia's RTX PRO 5500 chips, according to the report.

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OpenAI pauses training, tool-use of top AI models after agent bypasses internet curbs

The agent, OpenAI said, bypassed the curbs through a gap in its Domain Name System (DNS) filtering and used it to send questions to a public chatbot service. According to a report by OpenAI, the pause will stay in place until OpenAI has confirmed that the gap is resolved and has carried out further security testing of its systems.

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AI, semiconductors, quantum to drive India's next infrastructure push: FM Sitharaman

Union Finance Minister Nirmala Sitharaman highlighted the need for investment in AI, semiconductor chips, and quantum technology. She stated that strengthening digital infrastructure will support AI adoption across various sectors. Additionally, Sitharaman underscored the importance of providing AI solutions to micro, small, and medium enterprises. She believes that achieving over 10 percent economic growth is possible with greater effort in all sectors.

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OpenAI works to understand full scope of agent activity as user data leak emerges

OpenAI's ongoing battle also reflects a yawning gap between the strength of the models the company is testing and its capacity to oversee or even track their actions.

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European Union vows to defend its stand against X after the US backs a court challenge from Elon Musk

The European Union imposed a significant fine on social media platform X for regulatory violations. Following this, the U.S. government expressed support for Musk's legal efforts to dismiss the fine. The European Commission emphasised its right to enforce legislation aimed at protecting citizens. This situation has escalated tensions between Brussels and Washington regarding regulatory power. Officials from both sides have engaged in discussions about jurisdiction and implications for American companies.

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IRDAI's commission reset impact; ETSA winner Progcap’s next bet

Happy Friday! IRDAI's overhaul plan could significantly impact the new-age insurance distribution industry. This and more in today’s ETtech Morning Dispatch.

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White House asks OpenAI, Anthropic to hold models from British testers: Politico

The White House wants to take steps to make sure US systems are secure before the models are shared with partners, according to the report.

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BNP Paribas to keep sensitive data off public cloud despite Google deal

BNP Paribas will keep some sensitive customer data and critical operations off public cloud infrastructure even after signing a five-year cloud and AI partnership with Google, the French bank said on Thursday.

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AI speeding up tech development, but identifying problems is key: SAP Labs India MD

During a fireside discussion on Leadership in the AI Era, Gangadharan said companies should start with the business outcome they want to achieve rather than look for problems after adopting a technology.

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Meta's Muse rekindles fears over winners and losers as personal AI agent emerges

Meta's Muse, the first major consumer product to emerge under Alexandr Wang since he was hired to head its AI efforts last year, has split the fortunes of US stocks this week.

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OpenAI expands GPT-6 lineup with cheaper Sol and Luna models

The launch of low-cost GPT-6 Sol and GPT-6 Luna follows the rollout of GPT-6 Astra, a faster model for handling more tasks than previous iterations, earlier this month.

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Anthropic unveils Claude Opus 5.5

The company said Opus 5.5 performs on par with its Claude Fable 5.1 model on most tasks while costing 40% less to run on typical workloads than its predecessor, Claude Opus 5.

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Poor data sharing undermining EU cyber defences, auditors say

The 27-nation bloc was investing more and more in cybersecurity - with €1.4 billion ($1.61 billion) in its current budget - and improving cooperation, according to the court, which reports on how effectively the EU spends money.

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Softbank Group launches over $10 billion in bonds for OpenAI investment, term sheet shows

The dollar-denominated notes are split into 3-1/2-year, 5-1/2-year and 7-1/2-year tenors, while the euro-denominated bonds are split into 4-year and 6-year tenors, according to the term sheet.

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Ashwini Vaishnaw on India’s chip push; Emergent's new AI bet

Happy Monday! The next set of investments under India’s semiconductor scheme are expected to begin in the next six months, IT minister Ashwini Vaishnaw told us. This and more in today’s ETtech Morning Dispatch.

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Anthropic quietly sets up biology lab as it ramps AI drug program

At a time when fears of AI are gripping the public, the startup has built a wet lab, or place for physical experiments, in the San Francisco Bay Area, two people familiar with the matter said. Anthropic has said it wants to unlock treatments for rare diseases, and its biology work has gone beyond "in silico" or computer evaluations.

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Amazon enters AI safety fray, calls for "rigorous testing," safeguards

The company provided its views in response to a Reuters inquiry days after many of the largest labs called for slower AI development, following an outcry among researchers and others who fear the technology could evade human control and threaten global systems and even humanity itself.

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UK silence over demand for Apple data access is farcical, lawyer says

The British government's refusal to confirm whether it has issued an order to bypass encryption to access customer data held by Apple has become farcical, a lawyer for civil rights groups told a London tribunal on Thursday.

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Kissht parent OnEMI board approves Rs 832 crore preferential issue

Kissht plans to issue up to 26.49 million equity shares at Rs 314.11 apiece to 34 investors in the non-promoter category, according to an exchange filing on Thursday. The transaction is subject to shareholder and other statutory and regulatory approvals, the company said.

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Decoding MDR’s impact; EV bikes’ policy change sparks debate

Happy Thursday! The return of MDR is set to change UPI's market share game. This and more in today's ETtech Morning Dispatch.

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Revolut hackers demand $3 million ransom: FT

Hackers behind a data breach at Revolut threatened to sell confidential records of hundreds of customers to other criminal groups unless the British fintech pays a ransom of $3 million within 24 hours, the Financial Times reported on Wednesday.

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Anthropic to fold Claude AI features into one interface, launches document tools

Anthropic said on Wednesday it is combining the chat and Cowork features of its Claude AI assistant into a single interface and launching new document and presentation tools.

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Anthropic’s Amodei to AI industry: set your own safety standards before regulators do

On the back of publishing an essay urging AI companies to slow down, the Anthropic chief made the case for industry-wide safety standards.

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Ex-Google worker adds to AI alarm, warns of 'potential to kill us all'

A former Google DeepMind employee warned that rapidly advancing artificial intelligence could become uncontrollable and has "the potential to kill us all," adding to a growing list of industry insiders sounding the alarm. "I earnestly believe that AI has the potential to kill us all, and that we might be running out of time to avoid this outcome," wrote Chughtai, who has joined BlueDot Impact, a non-profit organization dedicated to training on artificial intelligence.

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China's DeepSeek hires dealmaker as CFO ahead of possible IPO

A ⁠CFO typically plays a central role in managing investor communications, financial controls, capital allocation and disclosure ​processes required for a listing.

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Mid-tier VCs scout deeptech deals; ETSA winner Varaha’s India play

Happy Monday! Sector-agnostic mid-tier venture capital investors are recaliberating focus on India's deeptech startups. This and more in today’s ETtech Morning Dispatch.

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Trump says 'very negative forces' raising exaggerated concerns over AI

"We're leading China in AI. We're the most sophisticated country ‌in the world, ⁠and frankly ⁠I want to keep it that way because whoever wins AI wins," Trump told reporters at his Ireland golf course, when asked if the ​AI industry should slow down or be more regulated.

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OpenAI agents attacked RubyGems before Hugging Face incident, researchers say

Many incidents ‌where AI agents from ⁠developers such ⁠as OpenAI and rival Anthropic have hacked or attempted to access external systems have heightened concerns over the increasing capacity of AI models and developers' ability to contain them.

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OpenAI's Sam Altman won't do IPO this year, calls AI extinction risk 'unacceptable'

The comments come as more US lawmakers urge new rules to govern AI systems after dire warnings from two researchers from OpenAI rival Anthropic that rapidly progressing AI could lead to the extinction of the human race in the not-too-distant future.

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The Next Decade of PhonePe and Future of Digital Payments | Deep Agarwal | Global Fintech Fest 2026

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Karnataka government to fund 100 startups with Rs 25 crore for pilot projects in government departments

Selected startups can get work orders of up to Rs 25 lakh each for pilot projects under an initiative called Government First under goverment's flagship Elevate programme, announced as part of Karnataka’s Startup Policy 2025-30.

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OpenAI launches ChatGPT for financial services industry

The product, ChatGPT for Financial Services, was developed with Morgan Stanley and Evercore as design partners ‌to help ⁠shape the ⁠offering, OpenAI said in a blog post.

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IBM, NASA launch AI model to help map ice, craters on Moon

The NASA-IBM Lunar Foundation Model is ‌a publicly ⁠available AI ⁠tool designed to study the Moon. It was trained ​on more than 30 layers of data collected by nine instruments ​on four NASA missions, including the Lunar Reconnaissance Orbiter.

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Wipro's AI push frees capacity equivalent to 20,000 workers, CTO says

The comments come as India's $315 billion software services industry grapples with adoption of AI, which is ‌reshaping hiring, software ⁠development and ⁠contracts.

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Meta tests fact-check replacement in Latin America

Meta said Wednesday it had begun testing Community Notes in 16 Spanish-speaking countries in Latin America, a step toward replacing the professional fact-checking program it runs with partner organizations across the region.is among the fact-checking organizations that participate in Meta's program in Latin America and elsewhere.

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Habuild CEO on user loyalty; Flipkart Minutes gets its own app

Happy Thursday! Habuild CEO Saurabh Bothra said repeat users are helping the company drive growth. This and more in today’s ETtech Morning Dispatch.

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ET Startup Awards 2026: Habuild leans on repeat users to expand beyond yoga into strength training, nutrition

Habuild, winner of the Bootstrap Champ title at the ET Startup Awards 2026, has built a profitable digital wellness business driven largely by repeat subscriptions. The platform, which started with free yoga sessions during Covid, reported Rs 112 crore revenue and Rs 57 crore net profit in FY25, while expanding into strength training and AI-led nutrition tools.

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US accuses Chinese AI firms of 'malicious' copying of AI technology

The Chinese companies copied U.S. AI labs' intellectual property through a technique known ‌as distillation, according ⁠to ⁠a statement from U.S. law enforcement and intelligence officials. Distillation is the process of training ​smaller AI models using output from larger, more expensive ones as part of an effort ​to lower the costs of training a new AI tool.

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Amazon, Flipkart's multi-front war; India set for more GCCs

Happy Wednesday! Amazon and Flipkart have broadened their bets as quick commerce platforms chip away at their share of user base. This and more in today’s ETtech Morning Dispatch.

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US suspends Cognizant green card filings

The action came a day after Cognizant announced plans to expand its American workforce. The company said it planned to hire 1,500 US college graduates and increase its Frontier Certified Engineer and Frontier Business Operator workforce to 15,000 people.

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Late-stage funding squeeze; ISRO opens up space

Happy Tuesday! India’s late-stage funding market is tightening, with investors writing smaller cheques and pushing for lower valuations. This and more in today’s ETtech Morning Dispatch.

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Taiwan flexes chip diplomacy muscles as it faces pressure to share AI wealth with allies

Home to companies like TSMC whose chips power AI applications, diplomatically isolated Taiwan has long sought to leverage its tech prowess to garner international support, something Beijing routinely seeks to block saying the island is merely one of its provinces.

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Festive carts to get heavier; Pixxel’s $100 million fresh fuel

Happy Monday! Online festive shopping is set to hit a new high this year. This and more in today’s ETtech Morning Dispatch.

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India set to pitch tech synergy for cementing BRICS

India is keen to complete three major multilateral projects under its chairmanship of the 11-country bloc. The global research advanced infrastructure network (GRAIN) initiative will offer researchers from member states federated, or shared, access to high-performance computing systems and supercomputers, an official said.

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Piper Serica eyes Rs 180-220 crore deployment across four-six deeptech startups this fiscal

The investment firm's new Bharat Tech Fund, a Category II AIF, targeting a corpus of Rs 600 crore, alongside a greenshoe option of Rs 200 crore, has already raised about Rs 400 crore and evaluated around 30-35 startups in the hunt for the next investment, Modi told PTI.

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IPO-bound Rentomojo pins growth on 'hard-to-copy' supply chain moat

Rentomojo’s moat lies in its complex rental model, which combines subscriptions, asset ownership, logistics, collections and refurbishment. With 2.5 lakh active subscribers and strong repeat business, the company is scaling ahead of its Rs 1,255.6 crore IPO, backed by improving profitability and access to credit.

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US, China gear up for mid-September AI safety talks

The ​talks, the first official bilateral discussions devoted exclusively to AI between the US and China ​since US President Donald Trump took office for a second time, will be led by US Treasury Secretary Scott Bessent on the US side, the sources, who were briefed ​on the planning, said on condition of anonymity.

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Smart ring maker Oura reveals revenue surge in US IPO filing

The IPO market is ‌expected to ⁠pick up ⁠steam after a summer lull. Analysts expect issuers to target the ​post-Labor Day window to get ahead of any uncertainty around November's midterm elections. Oura, ​whose journey began more than a decade ago in Oulu, Finland, makes a smart ring that tracks key ​health indicators such as heart rate, sleep ⁠stages and ‌physical activity.

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Data at law firms Quinn Emanuel, McDermott exposed in cyber breaches

It was not clear who was responsible for the two breaches or whether they were related. Large law firms' extensive holdings of confidential business and personal data have made them attractive targets for cybercriminals.

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Sugar’s valuation slump; Slice takes a hit

Happy Friday! A91 Partners is backing Sugar Cosmetics in a round that will see the beauty brand’s valuation fall sharply. This and more in today’s ETtech Morning Dispatch.

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Uber layoffs impact India; RMG ban, a year on

Happy Thursday! Uber is cutting jobs in India as part of a sweeping global restructuring. This and more in today’s ETtech Morning Dispatch.

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Adobe acquires PeakXV-backed AI startup Rilo to expand marketing automation

Rilo cofounder Dhruv Jaglan announced the acquisition in a LinkedIn post, saying the startup would join Adobe to “help bring AI to Fortune 500 marketers”. Financial details of the transaction were not disclosed.

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Google defeats US bid to force ad tech sale

While the ad exchange is a ​small part of Google's business, the ruling is the second powerful symbolic victory against the U.S. Department of Justice in its efforts to force Google to sell assets to address illegal monopolies.

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Anthropic launches AI agent blueprints for retailers ahead of holiday shopping season

AI-driven retail site visits now convert at a 60% ​higher rate than traffic ⁠from other ‌sources, Adobe Analytics said ​last month.

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Restaurants step up food safety; UpGrad seals Unacademy deal

Happy Wednesday! India’s food safety crackdown is forcing restaurants to clean up their kitchens and supply chains. This and more in today’s ETech Morning Dispatch.

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Eutelsat OneWeb seeks urgent security approval for LEO constellation to launch commercial satcom services in India

Eutelsat OneWeb urgently seeks government security approval for its satellite constellation. The company faces significant delays in launching commercial services in India. This delay impacts its ability to monetize substantial prior investments. Starlink and Jio Satellite also await similar security clearances from authorities. OneWeb's early mover advantage is diminishing due to these prolonged approvals.

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Tech layoff continues; ITC Infotech-Happiest Minds to merge

Happy Tuesday! Tech giants Oracle and Microsoft are planning to restructure their India workforces. This and more in today’s ETtech Morning Dispatch.

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OpenAI issued warrants worth $5.5 billion in SB Energy, WSJ reports

​OpenAI ​was issued ​warrants worth an ‌estimated $5.5 ⁠billion ⁠in ​power infrastructure firm ​SB Energy, the ​Wall ⁠Street Journal ‌reported ​on ​Sunday, ⁠citing draft IPO ​documents reviewed ​by the Journal.

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AI and robotics drive an IPO boom in China as Shein lists in Hong Kong

In the latest big stock listing, shares in China-founded e-commerce and fast fashion giant Shein are due to debut Tuesday in Hong Kong in a blockbuster initial public offering raising $1.7 billion, in one of the city's biggest new share sales this year.

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John Ternus to lead Apple into the age of AI

John Ternus takes over as Apple's chief executive on Tuesday, inheriting a company that towers over the smartphone market but trails its rivals in artificial intelligence. Ives expects the new chief executive to lean into what he knows.

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Big firms eye ISRO's rocket tech; DealShare's sale talks

Happy Monday! Big industrial groups are vying to get a piece of ISRO’s heavy rocket technology. This and more in today’s ETtech Morning Dispatch.

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SK hynix open to US investment, sees memory shortage through 2030

SK hynix CEO Kwak Noh-jung said SK hynix was looking globally for potential sites that could support its development and testing needs, citing power, water and government incentives among key considerations. Kwak also said the company's newly established AI Co. would serve as an investment vehicle for startups and companies that could support its next businesses.

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Social media influencers don entrepreneurial hat; launch VC-backed consumer brands

The rise of social media influencers has given birth to a new wave of consumer brands, garnering tremendous venture capital interest.

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OpenAI to end partnership with SpaceX's Cursor

OpenAI ‌said ​it ​was ⁠not confident that SpaceX ​would use its technology "within ​our terms of service."

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Canada to loan quantum startup Xanadu $140 million to build manufacturing plant

Experts have ​long touted quantum computers' potential to solve problems regular computers cannot and speed up ​scientific discoveries, but the technology remains error prone because of its extreme sensitivity to any disturbances including sound.

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US judge blocks Pentagon's Anthropic blacklisting

Anthropic's ​lawsuit in California federal court alleges that Defense Secretary Pete Hegseth overstepped his authority when he designated Anthropic a national security supply-chain risk, a label the government can apply to companies that expose military systems to ‌potential infiltration or ⁠sabotage by ⁠adversaries.

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Block deals test valuations; Gig board exodus

Happy Friday! Block deals are putting startups’ private valuations to the test. This and more in today’s ETtech Morning Dispatch.

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Infosys invests in AI enterprise procurement startup Aerchain

Infosys has invested an undisclosed amount in Bengaluru-based AI procurement startup Aerchain through its Infosys Innovation Fund. Founded in 2019, Aerchain offers an AI-powered procurement platform for enterprises. The investment follows its $13 million funding round in March.

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ET Startup Awards 2026 | Woman Ahead: Palmonas, Progcap share crown for building across sectors

Palmonas cofounder Pallavi Mohadikar and Progcap cofounder Pallavi Shrivastava jointly won the Woman Ahead award at the ET Startup Awards 2026. The jury recognised their distinct journeys in building high-impact businesses in jewellery and supply-chain finance, as both founders tackle underserved markets in the country.

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Anthropic to rent AI computing power from Nscale for $45 billion

Anthropic ⁠has been aggressively expanding its computing power to meet demand ​growth it expects for products like AI coding tool, Claude ​Code. Nscale, a cloud infrastructure provider, will deploy Nvidia's new Vera Rubin chips to support Anthropic's computing needs, ​the person said.

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AMI’s Nvidia chip bet; Groww’s new growth play

Happy Wednesday! AMI has ordered 9,000 Nvidia Vera Rubin chips, becoming one of Asia’s first such adopters. This and more in today’s ETtech Morning Dispatch.

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Brazil fines TikTok owner ByteDance for unlawful processing of teenagers' data

ANPD said that the local unit of China's ByteDance had processed personal data of teenagers aged 13 to 18 without a valid legal basis. The regulator estimated that, during the period under review, TikTok may have processed the data of at least 8 ‌million children, reflecting ⁠what it ⁠described as shortcomings in the platform's age-verification system.

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ETSA 2026: Jury to pick winners today; SoftBank trims Lenskart stake

The day has arrived! The elite jury of The Economic Times Startup Awards 2026 will convene in Bengaluru today to select the brightest stars in India’s startup galaxy. This and more in today’s ETtech Morning Dispatch.

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ETSA 2026: Elite jury meets today to crown startup ecosystem's best

A distinguished jury led by Wipro’s Rishad Premji will select winners for the 12th edition of The Economic Times Startup Awards. The awards recognise entrepreneurial excellence across categories including innovation, women-led ventures and social enterprise. The coveted Startup of the Year nominees include Porter, Skyroot Aerospace, Rapido, Meesho, Groww and Sarvam.

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ET AI Hackathon 2026: A platform to build, innovate and lead

Get ready for AI Hackathon 2026, brought to you by The Economic Times and Posspole Catalyst! This nationwide competition aims to uncover the brightest applied AI minds tackling real-world challenges. Participants will create cutting-edge AI solutions and have the chance to win an impressive prize pool. Not only will winners gain recognition in the enterprise field, but they'll also unlock exciting career opportunities at the grand finale in Hyderabad.

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AI startup Hugging Face exploring sale valuing it at $13 billion

The New ‌York-based ⁠company, which ⁠hosts open-source large language models and datasets, has ​been working with a bank to gauge bidders' interest, ​the report said.

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VCs chase deeptech; AI takeaways from ET's WLF

Happy Monday! Specialist VC funds are expanding beyond their traditional sectors to invest more in deeptech. This and more in today’s ETtech Morning Dispatch.

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India faces capital, talent gap in foundational AI race: Menlo Ventures’ Deedy Das

India faces hurdles in building globally competitive foundational AI companies, with top research talent concentrated in San Francisco and limited appetite for large, high-risk investments, Menlo Ventures partner Deedy Das said at The Economic Times World Leaders Forum 2026. He sees stronger opportunities for Indian startups at the application layer.

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Alibaba proposes $10 billion share placement to fund global AI drive

The Hangzhou-based firm has been ploughing tens of billions of dollars into AI, with its shareholders eager to see how it will monetise the huge investments. The company intends to use all of the net proceeds to invest in its "full stack AI capabilities, including to expand and enhance its AI infrastructure", it said.

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Dutch regulator fines Uber $966 million for automating driver suspensions

The penalty would be the second-largest issued ​yet under Europe's General Data Protection Regulation. It is behind only a €1.2 billion fine imposed on Meta by Ireland in 2023 for unlawfully transferring European Facebook users' data to the United States. Meta is appealing.

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TikTok agrees to $400 million US children's privacy settlement

The Justice Department sued TikTok and ByteDance in 2024 for allegedly failing to protect children's privacy, and ‌illegally collecting their ⁠information.

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The Economic Times Startup Awards 2026: Nominees for Startup of the Year and Midas Touch

Happy Friday! We are excited to bring to you the 12th edition of The Economic Times Startup Awards (ETSA). A few days before our esteemed jury convenes to pick the winners, we reveal nominees for the most coveted categories: Startup of the Year and Midas Touch for the best investor.

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ET Startup Awards 2026: Nominees for Startup of the Year

The ET Startup of the Year will be characterised by breakthrough innovation, top-class execution and fast-paced growth. The quality of the founding and management team will be an important component in decision making.

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The Economic Times Startup Awards 2026: Nominees for Woman Ahead and Social Enterprise

Happy Thursday! The ETtech team has been preparing for the past few months to bring you the 12th edition of The Economic Times Startup Awards (ETSA). Today, we are unveiling the nominees for two more categories: Woman Ahead and Social Enterprise.

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ET Startup Awards 2026: Nominees for Woman Ahead

This award recognises women entrepreneurs who have built their own ventures and are competing with the best in the industry. To qualify, nominees must be serving as CEOs of their startups, unless the company does not have a CEO-designated role.

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OpenAI slows advanced AI development after cyberattack

ChatGPT creator OpenAI said Tuesday that it was tapping the brakes on development of its most advanced AI model and tightening internal controls, a month after revealing a cyberattack carried out by one of its rogue models. OpenAI also said Tuesday that it was developing a new system to peer into the internal reasoning of models and sound the alarm to humans within 30 minutes of suspicious behavior.

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New-age stocks take off; Swiggy goes Indian

Happy Wednesday! India’s new-age companies are gaining ground in public markets as more startups go public. This and more in today’s ETtech Morning Dispatch.

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Meta rejects allegations it sought to hook children as landmark trial begins

Four lead states - California, Colorado, Kentucky and New Jersey - accuse Meta of designing Facebook and Instagram to hook young users, fueling anxiety, depression and even suicide, and misleading consumers about the platforms' safety.

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ET Startup Awards 2026: Nominees for Best on Campus

The Best on Campus award will showcase a startup whose impact can be judged both by the idea and the execution. The founders should have been students whose aim was to build a commercial enterprise.

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Nvidia to provide up to $105 billion guarantee for OpenAI's Ohio data centre

The new deal is the latest example of Nvidia financing the infrastructure built around its chips, a strategy that helps drive demand but has also raised questions about circular funding flows between the ‌chip giant and its ⁠customers. Huang said the new deal was not circular financing and that Nvidia is using "its scale and long-term visibility" to help.

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Stripe clinches over $7 billion deal to buy AI firm OpenRouter

The deal, just months after OpenRouter raised money at a reported $1.3 billion valuation, underscores the demand from businesses to find the most cost-friendly AI solutions. It could also give Stripe, a payments processing firm, a stronger footing in the fast-growing artificial intelligence sector.

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Unveiling The Economic Times Startup Awards 2026 high-powered jury

We’re back with the 12th edition of The Economic Times Startup Awards (ETSA). However hectic it gets for the ETtech team, the thrill of sifting through the best of Indian entrepreneurship makes up for every late night in the newsroom.

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US to tell partners they must pick sides in AI race with China

By pressing countries to choose sides the US hopes to starve China of resources in a race to make the most sophisticated AI, which ​could be used for military or economic dominance. In July, Chinese President Xi Jinping launched a rival "World Artificial Intelligence Cooperation Organization", promoting his country's open-weight technology as a challenge to US influence over the fast-moving sector.

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Crypto wallet provider SafePal discloses data breach affecting nearly 40,000 users' order information

An authorization flaw in the order tracking ‌system allowed access ⁠to ⁠another customer's order information between March 2, 2025, and April 11, ​2026, SafePal said in a statement.

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Anthropic CEO Dario Amodei rejects claim AI regulation would concentrate power

Responding to a debate sparked by comments from investor Gavin Baker, Amodei said the choice between concentrating AI power through regulation and distributing it widely was a "false choice". He argued that fair institutional processes can constrain corporate power and protect individuals, while regulation can be designed to place greater burdens on the most advanced AI companies than on smaller challengers.

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Five to eight more semiconductor plants to come up in eight years: PM Modi

Addressing the nation from the ramparts of the historic Red Fort on the 80th Independence Day, the prime minister said India's semiconductor journey reflects its growing technological self-reliance. Recognising the strategic importance of chips, the prime minister said India has taken decisive steps towards self-reliance in semiconductors.

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PayPal in talks with Stripe and private equity firm over sale: report

In July, Stripe and private equity firm Advent International made a joint offer to buy the digital payments pioneer for $60.50 a share, which would have valued PayPal at around $53 billion, according to media reports. PayPal has struggled to compete with other payments providers including Apple Pay and Google Pay.

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Instagram introduces new wordmark after a decade, logo to be unchanged

The redesign replaces the platform’s familiar cursive lettering with a hybrid style that combines more conventional typography with script-inspired curves. Elements of the letters, including the “s”, “r” and “g”, retain a distinctive stylised treatment.

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AMD looks to raise $4 billion to $5 billion in debt offering, source says

​Advanced Micro ​Devices is ‌looking ⁠to ⁠raise ​between $4 billion ​and $5 billion ​in ⁠a ‌debt ​offering, ​a ⁠source familiar ​with the ​matter said ‌on Thursday.

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New-age firms' listing gains fade fast; IT deal renewal in focus

Happy Thursday! Some of the best-received new-age IPOs are now trading below their issue price, ET analysis shows. This and more in today’s ETtech Morning Dispatch.

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Inside the Google executive moves that led to its big AI reshuffle

On August 5, the Mountain View, California, tech giant announced a sweeping leadership overhaul of its Google DeepMind AI division in which its chief, Demis Hassabis, stepped aside in favor of his deputy, Koray Kavukcuoglu. Hassabis became chair, with fewer management obligations. At the same time, the two original technical co-leads of Gemini quit to co-found a startup.

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Accel’s $550 million India fund; South Park Commons bets on deeptech

Happy Wednesday! Venture capital firm Accel has raised its ninth India fund. This and more in today’s ETtech Morning Dispatch.

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AI startup Manus to resume independent operations as deal with Meta unwinds

"As part of our ​transition back to independent operations and to ​comply with regulatory requirements in specific jurisdictions, data generated by certain users ​on/after December 29, ⁠2025" will ‌be deleted later this ​month, ​Manus said in a statement.

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Senior OpenAI executive Brad Lightcap to leave for new venture

Lightcap moved in April ​from his role as OpenAI's chief ​operating officer to a role focused on leading special projects. He previously worked with OpenAI CEO Sam Altman at venture capital firm Y Combinator ‌and joined OpenAI in 2018.

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US court rules Meta, other tech firms must face thousands of lawsuits over social media addiction

The San Francisco-based 9th U.S. Circuit ​Court of Appeals rejected an appeal by Meta and TikTok seeking to overturn a lower court ruling requiring them to face more than 3,000 lawsuits filed in federal court, saying the companies had appealed too early.

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Yulu, Bounce chase fresh funds; MPs target social media

Happy Tuesday! Yulu and Bounce Infinity are back in the funding market as rising delivery demand gives them a fresh boost. This and more in today’s ETtech Morning Dispatch.

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Boeing to divest tech ventures for stake in air-taxi startup

Boeing announced an agreement Monday to divest its air taxi and two other technology ventures to Archer Aviation for a stake in the startup. In its May earnings release, Archer said it had completed the "phase three" of the Federal Aviation Administration's four-phase certification process for its Midnight air taxi vehicle.

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Smart glasses are going mainstream. Do current privacy laws protect us from risks?

The push to make camera glasses a major consumer trend comes at a cost to the privacy of the wearer, and everyone around them. We know little about what happens with data from the devices, or who will see the images. Indeed, on Friday, federal Attorney-General Michelle Rowland asked Australia's privacy commissioner to urgently review the technology.

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Macros weigh on ecommerce sales; District CEO on growth plan

Happy Monday! Inflation and pricier inputs may take some shine off this year's ecommerce festive sales. This and more in today’s ETtech Morning Dispatch.

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LinkedIn CEO on AI Jobs, Agentic Hiring and the AI Slop Problem

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Former SK Hynix employee jailed for leaking information to a Chinese firm: Report

The Seoul ⁠High Court made the ruling in an ​appeal case against the defendant, upholding the lower court's ​sentence, for leaking classified information on so-called CMOS image sensors, a technology used for ​non-memory chips in smartphone ⁠cameras and ‌laptops, to a Chinese company ​in 2022, ​Yonhap said.

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Three in five Americans favour stronger oversight of social media companies: Reuters/Ipsos poll

The poll, which was conducted over the six days ending August 3, comes as companies ​like Meta Platforms and Google's YouTube face mounting legal pressure over their treatment of young users. A trial is expected to begin on Wednesday over allegations by state prosecutors that Meta designed its products to addict young users.

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OpenAI flags possible critical cybersecurity risk in upcoming model, tightens controls

Under OpenAI's safety guidelines, a model reaches the "critical" threshold if it can autonomously identify and exploit severe, real-world software vulnerabilities, known ‌as zero-day ⁠exploits, or ⁠execute complex cyberattacks against highly secure targets without human intervention.

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Financial sector must build safeguards against AI risks before using it: CEA

The financial sector cannot afford to ignore emerging AI-related threats until they become a reality, he said at an event organised by industry chamber Assocham here.

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MDR on UPI will hit businesses, not users: FM Nirmala Sitharaman hits back at Congress' Jairam Ramesh

Sitharaman accused the opposition leader of "spreading a canard" and clarified that MDR "applies only on the merchants and not on the end users/customers," adding that the revenue would let banks and fintechs invest in infrastructure, innovation and security, benefits she said would eventually flow to all UPI users.

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Wakefit reports Rs 23 crore net profit in Q1, revenue up 17%

Founded in 2016, Wakefit initially focused on sleep-related products such as mattresses, pillows, and bed frames before expanding to a broader home portfolio including sofas, dining sets, wardrobes, study tables, and bookshelves.

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Impact of MDR’s return; KKR veterans to anchor new fund

Happy Thursday! Competition in the payments space may change with merchant fees on UPI potentially making a comeback. This and more in today’s ETtech Morning Dispatch.

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Google's Jeff Dean launches AI startup Discovery Loop

Announcing the venture on X, Dean wrote, "We are founding Discovery Loop... a Public Benefit Corporation whose mission is to automate machine learning, science, and engineering to accelerate discoveries and progress." He added that the four founders have worked together for between 14 and 30 years, helping build Google's AI models, products and computing infrastructure.

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Experimental AI systems have been going on hacking sprees

The incidents show testing advanced AI models is no longer a controlled exercise. And the companies behind them need to do more to keep AI's most dangerous capabilities safely contained.

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OpenAI, Anthropic AI agents implicated in new security breaches

The institute ​said agents powered by Anthropic's Mythos 5 and OpenAI's GPT-5.6-Sol engaged in unauthorized actions during security evaluations the government organization conducted to assess the models' capabilities.

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Nvidia bets on Sarvam AI; Sidbi eases fund rules for VCs

Happy Wednesday! Sarvam’s Pratyush Kumar has confirmed adding Nvidia to the AI startup’s captable. This and more in today’s ETtech Morning Dispatch.

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OpenAI pays $3.2 million in US probe over hiring foreign workers

The Justice Department in a release said that OpenAI and Statsig, which makes product development software, recruited foreign workers ‌for some ⁠open ⁠positions and took various steps to discourage US workers from applying. That included requiring them to ​mail paper applications instead of submitting electronic ones, advertising jobs on the radio late at night, ​and not posting the openings on an external website, the Justice Department said.

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Quick commerce race cuts product launch cycles to weeks

Companies are shrinking product innovation cycles to three months or less. Quick commerce platforms now drive seventy-five percent of total digital sales. This rapid growth allows for faster testing and market entry strategies. Consumers now trigger purchases based on immediate needs and occasions. Product launches are happening within two weeks depending on market trends.

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Nazara CEO Nitish Mittersain steps down; Raymond Albaladejo Stauffer takes over

Mittersain will now focus his efforts as MD on shaping the company's long-term strategy, portfolio direction, strategic partnerships, and key stakeholder engagement.

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Cognizant’s Surya Gummadi: AI Will Rewrite the IT Services Playbook

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AI-assisted staging draws boos at the Richard Wagner festival in Germany

Curator Marcus Lobbes and his team were greeted with boos and whistles as they took to the stage at the end of Saturday evening's performance of "Gotterdammerung," German news agency dpa reported. However, there was warm applause for the singers and musicians, and particularly for conductor Christian Thielemann.

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Fintechs chase new revenue streams; Flipkart’s food delivery plans

Happy Monday! As core growth cools, India's listed fintechs are diversifying fast and launching new products. This and more in today’s ETtech Morning Dispatch.

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India's data centre capacity may reach 3-3.6 GW by 2030, hyperscalers to drive growth: Axis Capital

The report noted that publicly announced capacity targets of 6-8 GW by 2030 appear aggressive. A more realistic estimate is 3.4-3.6 GW of planned capacity by mid-2030, while actual operational capacity could be closer to 2.8 GW. This reflects challenges around execution, power availability, equipment supply and construction timelines.

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When rogue AI launches a cyberattack, who is legally responsible?

Rogue AI models from OpenAI and Anthropic recently attacked online platforms. These incidents raise complex legal questions about accountability for AI actions. Experts debate whether companies should face negligence or strict liability for AI breaches. Proving foreseeability of such AI breakouts will become easier for future lawsuits. The legal landscape for AI-driven cyber incidents remains largely unwritten.

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OpenAI finds evidence other AI agents escaped containment as it widens hacking probe

The discovery of additional rogue behaviour at OpenAI, even if limited ​in nature, could feed growing appetite for regulation coming out of the White House and elsewhere. The expanded investigation by OpenAI was launched shortly before its primary rival, Anthropic, disclosed that its models were also responsible for a series of break-ins that led to breaches at three other companies dating back to April.

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Explainer: EU gets new powers over powerful AI from Sunday

The EU has the world's most comprehensive digital rulebook covering social media, online retailers and search engines, with plans for more rules this year. In 2024, the EU adopted a sweeping AI law known as the "AI Act", but its rules have been introduced in stages.

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Alphabet rolls back AI image generation in Google Earth over policy violations

The tool had come under criticism for its potential for misinformation as it allowed users to ​create fake scenarios on top of ⁠real imagery ‌of monuments and landmarks. Google did not specify what types of images violated its policies. It said the images did not appear ‌in the main Google Earth experience and were watermarked as AI-generated.

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NXP in talks to buy chip developer Ambarella: Report

Shares ‌of ⁠Ambarella, with ⁠a market capitalization of $3.25 billion, ​jumped nearly 17%, while NXP fell over ​3% following the report.

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Swiggy Q1 losses narrow; Groww founders plan new fund

Happy Friday! Swiggy lowered its losses in the April-June quarter as revenue rose. This and more in today’s ETtech Morning Dispatch.

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GPT-5.6, ChatGPT Work lift OpenAI’s July ARR over Q2

OpenAI's revenue growth has surpassed second-quarter levels, driven by new product launches. The company is expanding its customer base to support significant AI infrastructure investments. OpenAI aims for substantial compute spending by 2030 and seeks Nvidia funding. Rival Anthropic also shows strong revenue growth with its coding assistant. Competition from Chinese developers like Moonshot AI is also increasing.

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OpenAI cuts prices on smaller models as businesses scrutinise AI spend

The ChatGPT maker lowered the cost of its smaller GPT-5.6 Luna model by 80% and its mid-tier Terra by 20%, while leaving the price of its biggest and ‌flagship Sol model ⁠unchanged.

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Zepto may defer IPO; Festive carts go premium

Happy Thursday! A roadblock in valuation negotiations may prompt Zepto to delay its listing. This and more in today’s ETtech Morning Dispatch.

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OpenAI's Sam Altman discusses rogue agent and new AI models with US senators

Altman met with Senators Raphael Warnock and Bernie Moreno on ​Wednesday, according to spokespeople for the senators. He is also expected ​to meet with Senator Mark Warner, the top Democrat on the chamber's Intelligence Committee, a spokesperson ​for Warner told Reuters.

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Elon Musk teases Grok 4.6 and 4.7 as AI race heats up

Musk said Grok 4.6 will arrive around August 7 as a 1.5-trillion-parameter model with substantially upgraded supervised fine-tuning and reinforcement learning. This will be followed just weeks later by Grok 4.7, a larger 2.1-trillion-parameter model.

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WhatsApp rolls out web calling and new call features across devices

WhatsApp now offers full calling functionality directly through web browsers through which users can make and receive audio and video calls without downloading any app. New features include call transfer and a waiting room for group calls. High-definition video and noise suppression will also improve the calling experience, the company said in a blog post.

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Layoffs at Krutrim; PhonePe vs Paytm

Happy Tuesday! Ola's AI startup Krutrim has laid off nearly half of its remaining workforce, sources told us. This and more in today's ETtech Morning Dispatch.

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Nvidia to invest $5 billion in Ilya Sutskever's AI startup

The two ⁠companies announced ‌the deal ​Monday ​morning without disclosing ⁠financial terms. The funding will boost ​SSI's available computing resources, ​the companies said. The deal also gives SSI access to Nvidia's cutting-edge Vera ‌Rubin hardware.

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New AI tools let readers talk to books

With these tools, users get access to an e-book or audiobook alongside an AI chatbot. Readers can dig into a character's psychology, historical context, or a philosophical concept, no separate research required. Mid-listen, you can tap a button, ask your question, hear the answer, and then pick up the story right where you left off.

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China memory chipmaker CXMT set for Shanghai debut after Asia's biggest IPO

At the IPO price, CXMT is valued at about 579 billion yuan ($85.5 billion) before the possible exercise of the over-allotment option, making it one of China's largest listed semiconductor companies. The company's IPO is the biggest mainland Chinese semiconductor offering on record, surpassing SMIC's $7.5 billion Shanghai share sale in 2020.

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Nvidia in talks with OpenAI to guarantee $250 billion financing for data centre: WSJ

The power for the ⁠project is ‌controlled by the US government ​and ​funded separately by Japan under ⁠a recent trade deal, with US Commerce ​Secretary Howard Lutnick involved in deciding ​who will receive access to it, the report added.

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India among top five growth markets, centre of global strategy for Red Hat

India is currently at the centre of the company's global strategy, both as a critical market and a hub for engineering excellence, Navtej Singh Bal, Vice President and General Manager, India and South Asia, Red Hat, noted.

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AI adoption reshapes workflows and hiring across high-growth technology companies: Report

Artificial intelligence adoption is rapidly transforming high-growth technology companies. Many businesses are deploying AI across engineering, finance, and human resources. Most respondents feel AI will meaningfully change team operations within a year. Engineering teams show the highest level of AI adoption and usage. Data quality and system fragmentation present key implementation challenges.

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Cheaper, open and intelligent: Chinese AI models gain ground, as they make inroads in the US

Chinese artificial intelligence models are increasingly adopted by American users and businesses. These advanced systems offer competitive performance at significantly lower costs. Companies are switching to Chinese AI for routine tasks and cost reduction efforts. While US tech giants express frustration, independent developers find them appealing. China's open-source approach and state support fuel global expansion ambitions.

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South Korea President Lee looking to open new era of AI in with global tech companies

President Lee delivered a keynote address ​unveiling a "San Francisco AI Declaration" that outlined South ​Korea's AI ambitions and its vision for technological cooperation with the United States. Lee separately met Nvidia CEO ​Jensen Huang, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Broadcom CEO Hock Tan, before joining the South Korean government-backed summit ​in San Francisco.

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Nvidia CEO Jensen Huang backs open AI models, coalition for safety and innovation

A broad coalition of companies and institutions, including Nvidia, Meta, Microsoft, Hugging Face, and the Linux Foundation signed a letter, arguing that open-weight models, which are systems anyone can download, inspect, and modify, deserve a major place in the US' AI strategy, not a defensive afterthought.

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Meta adds new task automation features to AI assistant

The updated Meta AI, powered by the company's new ‌Muse Spark ⁠1.1 ⁠model, is designed to understand user context and execute ​tasks without constant prompting.

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Pentagon awards Oracle nearly $7 billion deal in latest software consolidation push

The Enterprise Software Agreement, negotiated by the Department ​of the Navy, is between the Pentagon and Oracle for ​its on-premises compute usage.

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Flipkart chief rules out IPO timeline; Infosys names new CEO

Happy Friday! Flipkart group CEO Kalyan Krishnamurthy talked to us about IPO plans, quick commerce, and festive demand. That and more in today’s ETtech Morning Dispatch.

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'First cheque is never just capital, it's belief': Skyroot's Pawan Kumar on angel investor Mukesh Bansal

Chandana said Bansal trusted the founding team and gave them room to make their own calls while staying available to mentor them. "The first cheque is never just capital. It is belief," Chandana noted.

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White House accuses China's Moonshot of stealing Anthropic AI

A top White House official on Wednesday accused Chinese AI startup Moonshot AI of covertly copying Anthropic's most advanced model to build its Kimi K3. Michael Kratsios, director of the White House Office of Science and Technology Policy, said in a post on X that the United States had "information that Moonshot AI distilled Anthropic's Fable for the development of its K3 model."

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OpenAI says AI models went rogue during testing, triggering 'unprecedented' breach at startup

In a ​blog post, OpenAI said it was testing the capabilities of some of its most advanced models in a controlled environment but that the agent managed to escape containment, reach the internet and break into Hugging Face to try to satisfy its testing goal. OpenAI's disclosure ​that its advanced ​models were responsible for the breach, despite having placed them in what it described ⁠as "a highly isolated environment," will likely intensify disquiet over the power and ​risk of frontier models.

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TikTok US chief security officer to testify before US House on September 15

This is the first time a TikTok US executive will ​testify publicly in the US House since the company's Chinese owner, ByteDance, finalized a deal to ​split the US app from ⁠its global ‌business. ByteDance has disclosed few details ​about ​the deal, and a hearing would allow ⁠lawmakers to ask questions about US President ​Donald Trump's role in brokering the ​split and Chinese involvement in the US app.

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InMobi appoints JPMorgan, Jefferies for nearly $1 billion IPO

The SoftBank Group Corp.-backed firm is likely to seek a valuation of $5 billion to $6 billion in a share offering, Bloomberg News reported last year, which would place it in the mid-range of Indian publicly traded tech firms.

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Paytm board shelves bonus issue, prioritises growth and profitability

The board discussed the proposal at its meeting on July 20 before deciding not to take it forward “at this time”, the company said in a stock exchange filing. Paytm may reconsider a bonus issue later.

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Skyroot eyes a rocket a month; FIFA final drives delivery apps

Happy Monday! Skyroot is gearing up for more frequent Vikram rocket launches. This and more in today’s ETtech Morning Dispatch.

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Cleartrip bets on non-air expansion for scale, targets early-2027 breakeven

Flipkart-owned Cleartrip plans to diversify its business beyond flights to achieve breakeven by scaling its hotel, train, and bus verticals. Manjari Singhal called Cleartrip India’s second-largest air-bookings player and “fourth-ish” in hotels, but provided no market-share data. She said approaching the leader would take “a couple of years”.

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NTA probe finds NEET OMR sheets 'completely AI-generated', tampered; legal action likely

The National Testing Agency found one disputed NEET OMR sheet was AI-generated. Another OMR sheet submitted for scrutiny was discovered to have been tampered with. This follows allegations from students regarding discrepancies in their recorded responses and final scores. The NTA will pursue legal action against those submitting fake or manipulated OMR sheets. Around twenty lakh candidates appeared for the NEET examination this year.

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Users of Meta's Facebook, Instagram report suffering some outages

Social media platforms Instagram and Facebook experienced widespread outages on Sunday. Users in the United States reported significant issues accessing both the app and website. Downdetector data showed thousands of reports filed by affected users. Access to these popular platforms was also intermittent in Singapore. Meta has not yet provided an immediate comment on the disruptions.

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Equity norms under Semicon 2.0 to drive investment for advance chips design by Indian cos: IT Secy

India's Semicon 2.0 program will offer equity incentives for chip design firms. This initiative aims to attract significant investment for advanced chip development. The government will co-invest with venture capitalists to fund high-end chip designs. India's focus is on deepening its chip design ecosystem and developing intellectual property.

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Tata Electronics cyberattack: Mandiant recommendations implemented to prevent future breaches

On June 23 ransomware group World Leaks posted more than 200,000 files to the dark web, including details on projects related to some of the company’s global clients, which include Apple and Tesla. Three days later, it said that the company had launched a probe and had tightened internal security protocols.

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Karnataka tops India with 41% share in software exports

Karnataka ranks first in the country by contributing 41% share to India's total software exports. Additionally, the state has maintained its top position by securing a 24% share in the nation's overall export sector. In terms of merchandise exports, the state holds the fourth position with a 7.78% share, following Gujarat, Maharashtra, and Tamil Nadu, it said.

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US judge won't block Meta from laying off workers who filed AI discrimination lawsuit

​​District Judge William Orrick in Oakland, California, in a written order said he would not stop Meta from carrying out the layoffs beginning July 22 while the merits of the workers' novel legal claims are decided in private arbitration. ​​The lawsuit filed on Monday claims that in selecting jobs to cut, Meta relied on AI tools that measured productivity and AI token usage, disadvantaging people who missed work because of medical conditions or to care for family members.

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Chinese filing implies DeepSeek valuation of around $52 billion

The stock-exchange filing offers rare public evidence about the pricing and investor lineup of DeepSeek's maiden external fundraising, which the company has never announced. As a private company, DeepSeek ‌has no routine ⁠disclosure ⁠obligations.

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Manufacturing automation platform Groyyo raises $9.3 million led by Cornerstone Ventures

Groyyo offers fashion brands and manufacturers software to manage apparel sourcing, including product design, costing, production planning, quality checks, and logistics. It plans to use the capital to fund expansion across new geographies, deepen its supplier network, and advance the AI capabilities powering its tech platform.

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OpenAI fails to trademark name in EU

OpenAI, the owner the ChatGPT chatbot, lost Wednesday its appeal against the EU's refusal to register its name as a trademark. OpenAI had previously lost an appeal to the EUIPO. The European Court of Justice confirmed that decision, saying the name OpenAI was not sufficiently distinctive to be trademarked. fpo/rl/jhb

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OnePlus, once popular with tech fans, to pull out of US and Europe

OnePlus will cease operations in the US and Europe as early as this week. This move is part of a larger restructuring for parent company Oppo. Realme, another Oppo mobile business, will also exit the China market. OnePlus will remain active in China but plans a global shutdown by 2027. Oppo cites financial challenges and geopolitical concerns for these strategic changes.

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E2W startup E3 Electric.Ai raises Rs 100 crore in equity, debt

The funding comprises Rs 75 crore in equity and Rs 25 crore in debt, and more than 80% of the capital has already been disbursed, founder and chief executive P Sanjeev told ET. The company plans to use the proceeds for product engineering and commercialisation of its first scooter.

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UK banks' lack of Mythos access a wake-up call, government AI adviser says

Harriet ​Rees, chief information officer at Starling Bank, who was appointed "AI champion" by the finance ministry in January, said Britain needed to build AI infrastructure and models, and develop skills so "we are not fully reliant on U.S. tech providers."

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Nobel laureates among more than 200 experts urging action on AI's economic impact

They issued ‌the jointly ⁠signed ⁠statement on Monday, warning that AI could drive a larger ​economic transformation than the Industrial Revolution but one that is "vastly ​shorter" in time frame, raising questions for workers, companies and public institutions.

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Canada regulator cited Anthropic's Claude Mythos in warning to banks on cyber risks, email shows

The regulator, ​the Office of the Superintendent of Financial Institutions, sent the email to chief technology officers, chief information security officers, and chief risk officers across the financial industry, including the big banks and insurers, according to documents Reuters obtained through an access-to-information request.

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Elevation’s new India fund; InsuranceDekho charts D-Street path

Happy Tuesday! Elevation Capital is looking to back early-stage AI startups in India from its newest fund. This and more in today’s ETtech Morning Dispatch.

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Anthropic rolls out rupee pricing for Claude AI in India

This shows India's growing importance across Anthropic's markets. India accounts for about 6% of global Claude usage. The AI giant opened an office in Bengaluru earlier this year and roped in former Microsoft MD Irina Ghose to head operations.

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TCS CEO on Q1 performance; B Capital on India’s IPO market

Happy Monday! TCS top deck told us that the coming quarters will see macroeconomic pressures ease and AI deals swell. This and more in today’s ETtech Morning Dispatch.

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Meta to put AI chip into production in September as it looks to double computing capacity

The tech firm's data center chip, code-named "Iris," is part of a four-generation project for Meta Training and Inference Accelerators (MTIA) that it will design in-house. The plan is to use custom-built silicon to improve the AI that powers its Facebook and Instagram social media platforms.

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Anthropic extends Fable 5 access through July 19

In a post on X, the company said, "We're extending Claude Fable 5 access on all paid plans, as well as keeping Claude Code’s weekly rate limits 50% higher, through July 19."

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AI, human leadership key to future of project management, says expert

Speaking after inaugurating WAVES 2026, the 16th Annual Project Management Conference of the PMI Kerala Chapter here, Dawber said organisations need leaders who can inspire people across disciplines and adapt to a rapidly changing technological landscape, according to a statement on Sunday.

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Tata Consultancy Services plans up to 8,900 AI deployment engineers, seeks AI acquisitions

Tata Consultancy Services is building a large team of forward-deployed engineers. The company is also actively seeking artificial intelligence acquisitions. This strategy aims to create new business opportunities rather than disrupt outsourcing. TCS believes deep client knowledge is key to integrating and deploying AI systems. The firm is investing significantly in talent development and AI accessibility.

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WhatsApp username rollout put on hold after govt notice

Telegram has also submitted its response to the government that last week issued formal notices to the messaging platforms, directing them to immediately halt the rollout of the username feature. These platforms currently rely on mobile phone numbers for user identification.

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Nvidia supplier King Yuan Electronics to invest up to $1.4 billion in US facility

King ​Yuan Electronics said the investment is intended to support ​operational growth ⁠and strengthen ‌its position in ​the ​global supply chain.

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Microsoft emissions surge 27% as AI buildout crimps climate goals

Microsoft's greenhouse gas emissions jumped 27 percent in its latest fiscal year, the tech giant disclosed Thursday, adding to a wave of worsening environmental reports from an industry racing to build AI infrastructure. The disclosure follows similar reports from Google and Amazon last week showing emissions surging 18 percent and 16 percent respectively, as all three companies acknowledged that AI infrastructure expansion is outpacing their decarbonization efforts.

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AI notetakers promise easy meeting recaps, but some professionals question their use

AI notetakers offer convenience but pose significant data privacy risks. These tools convert all spoken words into searchable data, potentially exposing sensitive information. Companies may store or use meeting transcripts to train their artificial intelligence models. Individuals should assert privacy rights and understand data storage policies before use. Asking for consent and establishing clear boundaries ensures meeting confidentiality.

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BofA extends first $520 million loan to OpenAI ahead of IPO

The loan makes BofA one of OpenAI's largest lenders and bolsters its credentials as a market leader ‌in AI-related capital ⁠markets ⁠financing, the source said, requesting anonymity to discuss confidential information.

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Google Cloud’s big India AI bet; Swiggy crosses key ownership threshold

Google Cloud is supercharging its India bet with a local AI play and a potential manufacturing push. This and more in today’s ETtech Morning Dispatch.

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US cyber agency is using Anthropic's Mythos to audit government code, sources say

The Cybersecurity and Infrastructure Security Agency is using Mythos to scan government code repositories for bugs that could leave the door ​open for foreign spies and cybercriminals, the sources said.

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Meta expands generative AI tools with Muse Image rollout

The company said Muse Image, which is integrated ‌into its ⁠Meta ⁠AI chatbot, can interpret complex prompts, use photos as inputs ​and let users edit generated images directly through sketches or ​annotations.

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WhatsApp username row: Meta gets time till July 9 to reply to notice

However, the Ministry of Electronics and Information Technology (MeitY) subsequently issued a formal notice directing Meta to put the India rollout on hold pending a rigorous risk assessment. It also asked the company to submit a response on the same by Monday.

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Inside Telegram’s leak economy; Flipkart employees’ latest windfall

Non-consensual image rings are turning small UPI transfers into tickets to abusive, closed Telegram groups. This and more in today’s ETtech Morning Dispatch.

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Info Edge to acquire edtech platform Coding Ninjas

Following its board meeting held on Monday, the company said it will acquire the entire remaining shareholding of Sunrise Mentors, which operates the edtech platform Coding Ninjas, from its founders.

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Elon Musk's bid to set aside Twitter fraud verdict rejected by US judge

U.S. District ​Judge Charles Breyer in San Francisco also denied Musk's motion to decertify the class of investors, and granted the investors' motion for prejudgment interest. The judge did, however, find Musk not liable for one of his challenged tweets.

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AI creating new consumer demands, biz opportunities beyond productivity gains: Bosch Global Software Technologies CEO

AI is often viewed only through a technological lens, even though its impact extends far beyond technology, right from social re-engineering of the corporate landscape to fundamentally changing how organisations work, structure teams and lead people, he said.

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Navi eyes Rs 3,000-crore IPO; inside IT CEOs’ pay

Sachin Bansal’s Navi is preparing to return to the public markets by the March quarter of FY27. This and more in today’s ETtech Morning Dispatch.

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AI capex cycle likely to end with market pushback, not spending cuts: Jefferies

Global brokerage Jefferies suggests the AI investment boom might falter not due to tech giants cutting spending, but investor impatience for returns. A significant wealth transfer to North Asia, evident in surging Korean and Taiwanese market caps, highlights where AI capital is flowing. US hyperscalers' recent underperformance and increased debt funding raise concerns about potential capital destruction if returns don't materialize.

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IT services growth likely to stay soft in near term as clients delay discretionary spends: Equirus

India's major IT firms anticipate a subdued first quarter, with growth expected to pick up only when clients shift from cost-cutting to AI-driven transformations. Enterprises remain cautious with spending due to global uncertainties, funding AI through existing savings. While currency tailwinds and better margins are positive, revenue growth is likely to be capped in the near term. Analysts expect some guidance adjustments for the fiscal year.

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Telegram gets 15-day notice from I&B Ministry to curb pirated films and copyrighted content

The government has issued a stern notice to Telegram, demanding it bolster systems to combat pirated films and copyrighted content. The platform has 15 days to report on measures taken to detect, remove, and prevent such infringements. This move, aimed at protecting India's creator economy, follows previous actions against over 3,000 pirating channels and concerns over exam paper leaks.

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ETtech Explainer: Why MeitY wants Google and Apple to remove e-rickshaw battery apps

The Ministry of Electronics and Information Technology (MeitY) issued notices to Google Android and Apple iOS to remove seven mobile apps, according to sources reported by ANI. These apps, which included BAT-BMS, SMART BMS and LOSSIGY, were being misused to disable e-rickshaw batteries.

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Indian IT firms likely to report muted Q1 growth amid AI spending, macro uncertainty

India's Information Technology (IT) companies are expected to report another quarter of subdued earnings growth despite seasonal strength, due to client-specific issues, weakness in select verticals and geopolitical uncertainty. Addressable tech spending in Indian IT companies is expected to remain softer year-on-year as enterprises redirect technology budgets towards artificial intelligence (AI) initiatives and Global Capability Centres (GCCs), according to a report by Systematix Research.

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Bengaluru emerges as India's U30 capital as startup ecosystem turns DeepTech and hardware-focused: Priyank Kharge

Bengaluru has emerged as India's premier hub for young entrepreneurs, with 21 founders making it to the Avendus Wealth - Hurun India U30 List 2026. This surge highlights a significant shift towards DeepTech and HardTech sectors, including AI, SpaceTech, and EVs. The report underscores Bengaluru's robust innovation ecosystem and its growing influence in shaping India's future.

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Username row: After Meta, Centre issues notices to Telegram, Signal

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Our focus is data centres because they are big fibre guzzlers: Corning's Sudhir Pillai

Corning broke ground for a new optical connectivity manufacturing facility in Pune in February this year. The plant is being built alongside the company’s existing optical fibre facility, which has been operational since 2012. The company said the new facility would focus on producing specialised optical connectivity products primarily for hyperscale and AI-driven data centres.

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Zoho's Arattai to drop username feature amid WhatsApp controversy

This comes amid a wider standoff between the Centre and messaging platforms over features that let users connect without sharing phone numbers. The Ministry of Electronics and Information Technology (MeitY) gave Meta three days to respond to a July 1 letter and halt the rollout of WhatsApp's new usernames feature pending government approval. The ministry warned the feature could "materially increase the incidence of online fraud, phishing, digital arrest scams and impersonation attacks."

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Russia warns Apple of $52 million fine over alleged bias against local apps

The ​Federal ⁠Antimonopoly Service ‌said Apple ​must ​ensure Russian ⁠software, including search engines and ​messenger Max, is ​pre-installed on its devices.

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Orchestration layer is new battleground for Indian AI talent

​​Recruiters told ET that hiring for standalone prompt engineering roles has plateaued as companies increasingly seek engineers who can build and orchestrate agentic or autonomous AI systems, signalling one of the fastest shifts yet in the country’s AI talent market.

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Anthropic unveils 'Claude Science' AI platform for scientific research

The launch is part of ‌Anthropic's ⁠life sciences ⁠and healthcare initiative, which the IPO-bound ​company has been developing since October 2025.

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NRI equity inflow falls; Pi Ventures preps exits

NRI accounts are surging even as stricter compliance and a softer market cool equity inflows. This and more in today’s ETtech Morning Dispatch.

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NRI flows into Indian equities dip as compliance rules bite

Investments by Non-Resident Indians (NRIs) in Indian stock markets are slowing, despite a rise in account openings. While global uncertainties and market performance play a role, stringent Know Your Customer (KYC) rules are a major hurdle. Industry insiders believe easing these regulations, particularly through digitisation and e-notarisation, could significantly boost remittance flows and unlock substantial investment potential from affluent NRIs eager to participate in India's growth story.

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Amazon, Flipkart spark quick commerce price war as Blinkit, Instamart hold the line

India’s quick-commerce market is back in a discounting spiral. Amazon and Flipkart are turning up the heat, but incumbents Blinkit and Swiggy Instamart are largely refusing to dive into the price war as they prioritise profitability, industry executives said.

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Baidu's AI chip unit Kunlunxin targets $50 billion Hong Kong IPO: Report

Investors have been asked to ‌buy chips ⁠with ⁠a value three to seven times the worth of their ​planned subscription in Kunlunxin's initial public offering shares, the report ​said.

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Google limits Meta's use of its Gemini AI models: Report

Google, owned by Alphabet, told Meta ‌around March ⁠it ⁠could not meet the full Gemini capacity the company had sought ​to purchase, the newspaper said, adding that the shortfall disrupted ​and delayed some of Meta's internal AI projects.

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How schools breach children’s data privacy: A snapshot

Schools and other organizations are posting children's photos and achievements online without proper parental consent, potentially violating the DPDP Act. This practice exposes minors to privacy risks, online abuse, and legal issues. While global governments are strengthening child online protections, compliance in India remains inconsistent, leaving many children vulnerable to exploitation and harassment, as highlighted by a recent student's experience.

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SpaceX set to join Nasdaq 100, paving way for wave of passive buying

SpaceX is set to join the Nasdaq 100 index on July 7, a move expected to attract billions in passive investment. This inclusion follows Nasdaq's relaxed entry criteria, making it easier for companies like SpaceX, despite recent losses, to enter major indices. While some see it as a positive sign of demand, others, like Morningstar, express concerns about the stock's valuation. S&P 500, however, maintains stricter entry rules for SpaceX.

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West Asia conflict may delay India's chip projects

India's ambitious semiconductor projects, including Tata Electronics' Dholera fab, face potential delays due to the West Asia conflict. Logistical snags have disrupted the supply of crucial speciality gases, chemicals, and metals, leading to concerns about cost overruns and extended timelines. While some believe disruptions have eased, experts warn of significant pushes to production schedules, impacting both construction and operational phases.

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Living on borrowed AI won’t end well for India, warn experts

India's reliance on foreign-controlled advanced AI models, like Anthropic's, is under scrutiny after a US government directive suspended access. Experts warn this highlights a significant vulnerability, potentially hindering India's ambition to become an AI power. The incident underscores the need for stronger domestic capabilities and strategic infrastructure to avoid being merely an adopter of technologies controlled elsewhere, emphasizing the geopolitical implications of frontier AI.

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Xbox to raise console prices worldwide from August

Groups representing automakers, retailers, electronics firms and others had ‌warned earlier ⁠this ⁠month that the increasing demand for memory chips could lead to ​dramatic price hikes in U.S. consumer goods and disrupt supply chains.

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Binance to suspend crypto services in several EU countries

Binance, the world's largest cryptocurrency exchange by volume, said it had applied for authorisation to operate under the EU's crypto assets regulation MiCA in Greece, but told clients that it has now withdrawn that application and would apply in another EU country.

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Pocket FM winds down microdrama to focus on audio dramas, overseas market

Audio entertainment firm Pocket FM is shutting down its microdrama vertical, Pocket TV, to concentrate on its core audio dramas and international expansion. This strategic shift precedes a potential public listing, as the company prioritizes profitability. While short video dramas are booming in India, Pocket FM is returning to its strengths in audio, where it has established content and monetization.

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AI risks spark 30% surge in India cybersecurity spends as enterprises ramp up defences

Corporate India is witnessing a significant surge in cybersecurity spending, up 30% year-on-year, as businesses race to safeguard data and AI systems. Even traditionally less-invested sectors like manufacturing are digitizing aggressively. This trend, driven by AI's expanding attack surface and increasing regulatory pressure from bodies like CERT-In, is making cybersecurity a crucial, ongoing operational expense for enterprises.

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Mark Zuckerberg directed Meta to create a prediction markets app: NYT

Meta is reportedly developing a new app, codenamed 'Arena,' designed to function like prediction markets such as Polymarket and Kalshi. Initially, it will likely use a points system, with the possibility of real-money wagering later. This move taps into the growing popularity of prediction markets, which have seen significant interest during the U.S. presidential election.

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Chevron signs pact with Microsoft for powering its Texas data centre

Chevron and Microsoft have partnered for a 20-year deal to power a Texas data center. The Kilby facility will supply 2.67 gigawatts using GE Vernova and Solar Turbines technology, mitigating grid impact. This collaboration highlights the immense energy needs for AI development, with Chevron leveraging its natural gas resources to meet this growing demand competitively.

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Dealmaking stays strong as startup M&A momentum carries into 2026

Indian startups are experiencing a surge in M&A exits, particularly in consumer, fintech, and ecommerce sectors, signalling a robust recovery in dealmaking. Major acquisitions by L'Oréal and Marico have been the latest in this trend, with strategic buyers increasingly seeking to integrate new capabilities.

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UnitedHealth’s $3 billion AI push has bots calling doctors

The largest US health insurer plans to invest $3 billion in AI over 2026 and 2027. UnitedHealth executives say they’re seeing a 2-to-1 return, as AI automates cumbersome manual processes and makes workers more efficient. Executives say the technology can reduce friction for patients while lowering costs.

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AI, AI Sir! Indian execs back in the classroom for a fresh chapter

Online education companies such as Coursera, Eruditus, upGrad and Simplilearn are reporting a sharp rise in enrolments over the past year $2 trillion a year over the next five years - with generative AI, agentic AI and AI-led business transformation emerging as the most sought-after areas of learning.

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Trump tells Axios he no longer views Anthropic as national security threat

Senior Anthropic technical staff were scheduled to meet with Trump administration ‌officials earlier ⁠this week ⁠to discuss a dispute over foreign access to its most advanced ​AI models, Fable 5 and Mythos 5. The company last week disabled access ​for all users to those models after Trump ordered Anthropic to block foreign nationals from accessing them.

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Meta AI glasses pilot faces privacy scrutiny

Privacy experts are flagging significant risks with Meta's AI glasses pilot for visually impaired citizens in Gujarat. Concerns centre on potential privacy violations for users and bystanders due to always-on cameras, and challenges under India's data protection law. While the technology promises independence, calls are mounting for stringent safeguards against data misuse and unauthorised access before deployment.

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Architect Labs raises $24 million to take on Broadcom, Marvell custom chip business

The company plans to target chip ​companies to ​help accelerate the design process but also software companies ⁠that could use custom chips to make their ​applications run faster or more efficiently, Architect co-founder Ebrahim ​Hussain said in an interview with Reuters.

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Nobel Prize winner John Jumper quits Google DeepMind after nearly a decade; set to join Anthropic

Nobel laureate John Jumper, a key figure behind the groundbreaking AlphaFold AI, is departing Google DeepMind after nearly nine years. He announced his move to rival AI firm Anthropic on X. Jumper's departure underscores the intense competition for top AI talent as startups like Anthropic vie with tech giants for leading researchers.

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Data centres, AI become IT's next growth bet

India's software services industry is finding new growth in data centers and AI. Companies like HCLTech, TCS, Accenture, and Cognizant are investing heavily in AI platforms and infrastructure. This strategic shift aims to position them as end-to-end partners.

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