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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