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.
Google licenses AI model to Indian firms for early detection of diabetic blindness
With new partnerships in India and Thailand, Google aims to facilitate 6 million free AI screenings for diabetic retinopathy in underserved communities over the next decade. The AI model, which underw
Wipro issues bonus shares at 1:1; adds 978 headcount in September quarter
This is Wipro’s first bonus share issue since 2019, when it offered one bonus share for every three shares held. In total, Wipro has issued bonus shares 13 times in its history.
Agnit Semiconductors raises $3.5 million in seed round
The five-year-old Bengaluru-based startup, which was also one of the nominees for the 'Top Innovator' category at the ET Startup Awards, has raised $4.87 million in total so far and plans to utilise t
Infosys adds 2,456 employees in Q2FY25, reversing trend after six quarters
Infosys' attrition for the second quarter rose slightly to 12.9%, up from 12.7% in Q1, though lower than 14.6% in Q2 of the previous year.
Wipro Q2 Results: Cons PAT jumps 21% YoY to Rs 3,209 crore, beats estimates
Wipro Q2 Results: Revenue from operations for the quarter was Rs 22,302 crore, slightly down from Rs 22,516 crore in the same quarter last year. However, the figure exceeded Street estimates of Rs 16,481 crore.
Infosys Q2 Results: Profit rises 5% YoY to Rs 6,506 crore; revenue also up 5%
Infosys Q2 Results: Infosys, India's second-largest software exporter, reported a 5% growth in consolidated net profit to Rs 6,506 crore for Q2, with revenue from operations rising by 5% YoY to Rs 40,