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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