Samsung delays taking deliveries of ASML's chip gear for its new US factory, sources say
The delay in equipment deliveries is a fresh setback to the Taylor project, which is at the heart of Samsung chairman Jay Y. Lee's ambition to expand beyond its bread-and-butter memory chips into cont
Ashneer Grover withdraws oppression and mismanagement plea against BharatPe management
The withdrawal of the plea from the NCLT's Delhi bench came after Grover reached a settlement with the company on September 30, 2024. Besides, on October 17, Grover also withdrew a plea from the Natio
Chinese robotaxi firm Pony AI files for US IPO
Pony AI, in which Japan's Toyota owns a 13.4% stake, revealed that its revenue nearly doubled to $24.7 million in the first half of 2024. Net loss attributable to the company was $51.3 million in the
FBI arrests man over SEC hack, alleging bitcoin manipulation
In January, a hacker posted false news on the SEC's @SECGov X social media account announcing the agency had approved bitcoin exchange-traded funds, causing the price of the cryptocurrency to spike. The agency quickly disavowed and deleted the post.
Google leadership shuffle: ad and search head Prabhakar Raghavan steps down to take new role
Raghavan used to oversee ads and several other critical business areas for the world’s largest online search company. Raghavan’s new role will focus on driving strategic technical direction and nurtur
Sam Altman's rebranded Worldcoin ramps up iris-scanning crypto project
World Network, which is facing scrutiny over its data collection, introduced a new version of its orb iris-scanning device at an event in San Francisco on Thursday, which it said features 5G connectivity and enhanced privacy and security features.
Zomato shares dip 5% amid fundraise plans via QIP
Shares of Zomato dropped by 5.4% after the company announced a fund-raising plan through issuing equity shares. The company reported a net profit of Rs 253 crore for the April-June quarter, driven by revenue growth from Blinkit and Hyperpure.
Microsoft and OpenAI's close partnership shows signs of fraying
Over the next few months, Microsoft wouldn't budge as OpenAI, which expects to lose $5 billion this year, continued to ask for more money and more computing power to build and run its artificial intelligence systems.
Meta partners with Hollywood's Blumhouse to test out its AI movie generation model
The announcement comes after Meta unveiled Movie Gen, which it said can create realistic-seeming video and audio clips in response to user prompts, earlier this month. In a blog post, the social media
Nvidia hits record high as chip stocks rally on TSMC's rosy AI-powered outlook
The forecast from the leading producer of advanced AI chips reinforced investor confidence in the outlook for chipmakers whose market values have skyrocketed in the past two years due to a surge in ch
TikTok let through disinformation in political ads despite its own ban, Global Witness finds
The group, which did a similar investigation two years ago, did find that the companies - especially Facebook - have improved their content-moderation systems since then. But it called out TikTok for
Google shifts Gemini app team to DeepMind
Gemini is Google's most advanced AI technology, developed by DeepMind. The Gemini app is the direct consumer interface to the latest Gemini models. The Gemini app team, led by Sissie Hsiao, will join
Karnataka to use tech solutions to address water & sanitation
IT-BT and RDPR minister Priyank Kharge said, “I intend to make Karnataka a water-secure state in the country. If I can solve this using deep tech in biotechnology or IT that ensures we get better port
Karnataka to create deep-tech innovation cluster in Bengaluru: IT-BT minister Kharge
Aiming to address the gaps in core deep-tech areas in the country, such as artificial intelligence and machine learning, robotics and automation, quantum computing, and biotechnology, the IT-BT minist
Amazon AWS CEO: Quit if you don't want to return to office
"If there are people who just don't work well in that environment and don't want to, that's okay, there are other companies around," said Garman. "When we want to really, really innovate on interestin
NBFC co-lending biz under scrutiny; P2P startups eye revamp
Happy Friday! Fintechs with co-lending partnerships may face stress after RBI's action on Navi and DMI Finance. This and more in today’s ETtech Morning Dispatch.
LTIMindtree reports 7.7% rise in profit
The Mumbai-headquartered IT services company reported a 5.9% growth in consolidated revenues at Rs 9,432.9 crore in Q2FY25 as compared with Rs 8905.4 crore in Q2FY24 and 3.2% rise from Rs 9142.6 crore in Q1FY25.
Fintech firms’ NBFC co-lending biz under stress after RBI action
There could be a direct impact on co-lending arrangements after the Reserve Bank of India’s (RBI) action on Navi and DMI Finance, two major new-age lending companies, said industry insiders.
Wipro’s Q2 net profit rises 6.3% QoQ to Rs 3,227 crore
The fourth largest Indian IT services firm posted a net profit of Rs 3,227 crore for the quarter ended September 30. Revenue rose 1.5% sequentially to Rs 22,301 crore, helped by increased momentum in
Infosys net profit rises 4.7% in Q2, misses Street estimates
Infosys is seeing a “lot of traction in financial services, which has given us good growth last quarter and this quarter,” said chief executive officer Salil Parekh. “We see that continuing.”
Eruditus raises $150 million led by TPG Rise, company to flip domicile to India from Singapore
Executive education startup Eruditus has bagged new funding of $150 million led by TPG Rise, the impact investment fund from the US investor. The funding is at a flat valuation of $3.2 billion, post-m
P2P startups look to overhaul biz, processes amidst RBI crackdown
Peer-to-peer lending startups are still coming to terms with the latest observations on the sector released by the RBI on August 16. At the same time, they are also dealing with regulatory action agai
Not concerned about new competitors entering quick commerce space: Albinder Dhindsa of Blinkit
The chief executive of the quick commerce platform said the space is not small and the company is providing customers with a service they didn’t know they needed.
Zepto taps domestic family offices; Infosys, Wipro Q2 results
Zepto is in talks with domestic investors for another fundraise which may value the company at $4.6 billion. This and more in today’s ETtech Top 5.
Investors leaving board was biggest setback, Byju's now worth zero: founder Raveendran Our Bureau
At a virtual press conference, while sounding optimistic of a turnaround, said Byju’s worth today is zero. Investors like Prosus have written off their investment in the once-the-most-valued Indian startup.