Wingtech was responding to an open letter published by Nexperia’s Dutch unit on Thursday in which it wrote that it had made repeated and multiple attempts to restore dialogue but had failed to receive a response from its Chinese units.
According to Vembu, who took to X to recount the episode, it all began when he received a cold e-mail from a startup founder pitching a potential acquisition.
Amazon acquired Bengaluru-based non-bank lender Axio earlier this year. Currently focused on BNPL and personal loans, Axio will re-embark on offering credit for small businesses and start offering cash management solutions.
Amazon and Flipkart are moving deeper into financial services in India, targeting small businesses and consumers with new lending products as they challenge traditional banks. Amazon, after acquiring non-bank lender Axio, plans to restart small-business loans and offer cash-management tools,…
Meesho’s upcoming IPO sets a price band of Rs 103-111, valuing the company at $5.74 billion. Founders Vidit Aatrey and Sanjeev Kumar, along with early investors like Elevation Capital and Peak XV Partners, are poised for significant paper gains. The…
Asahi says it has received no ransom demand after a major ransomware attack that may have exposed data of about two million people. The brewer called the incident “sophisticated and cunning” and has delayed financial results while restoring systems. Production…
Tech talent cloud company SkillsCapital says tech talent from India’s tier-2 and tier-3 cities is emerging as a major global services export. The company notes rising demand for non-metro professionals, supported by its AI-driven talent cloud. With global skill shortages…
Apple has gone to the Delhi High Court to oppose new antitrust rules that allow the CCI to levy fines based on global turnover. The company says the retrospective, wide-reach penalty system is unfair and disproportionate. Apple also wants parts…
Digital infrastructure provider CloudExtel has secured Rs 200 crore in debt from a private sector bank, alongside follow-on equity from existing shareholders. The capital will primarily fund a new Data Centre Interconnect (DCI) network, starting in Mumbai and expanding to…
Alibaba has entered the AI wearables market with its Quark glasses, aiming to challenge Meta’s dominance. Priced from 1,899 yuan, these glasses are powered by Alibaba’s Qwen AI model and promise deep integration with popular apps like Alipay and Taobao…
HCL Technologies is expanding its collaboration with SAP to develop Physical AI solutions, embedding artificial intelligence into real-world industrial and business operations. The partnership will focus on customer projects applying embodied AI to enhance productivity and decision-making in manufacturing, supply…
Italy’s antitrust authority has expanded its investigation into Meta Platforms, alleging abuse of dominance via AI tools on WhatsApp. The regulator is also initiating procedures for potential interim measures concerning new WhatsApp Business Solution Terms and the integration of Meta…
HSBC analysts project OpenAI could face a significant compute rental shortfall by 2030, despite substantial new cloud deals with Microsoft and Amazon. Even with projected revenue growth from various AI ventures, the company’s massive compute needs may outpace its financial…
Microsoft will remove Copilot from WhatsApp on January 15 because of new platform rules banning general-purpose AI chatbots. Users must switch to Copilot’s apps or web version, with chat history not transferable. WhatsApp will still allow business-focused bots, aiming to…
Deeptech startup LightSpeed Photonics has secured $6.5 million in a funding round led by pi Ventures to advance its optical interconnect technology for AI data centres. The company’s patented solution offers significantly faster speeds and lower power consumption compared to…
Google is stepping up its game against Nvidia by permitting customers to install its unique TPUs right in their data facilities. In a parallel development, social media titan Meta is considering a substantial financial commitment that could run into billions.
Contract manufacturer Zetwerk is preparing for an IPO that could raise up to $750 million. The firm has hired several major banks and may file a draft prospectus early next year. The share sale is expected to include mostly new…
Taiwan’s premier said he has no knowledge of working with South Korea on U.S. tariff issues, stressing that Taiwan is only holding direct talks with Washington. He noted ongoing efforts to lower existing tariffs and described competition with South Korea…
The Indian data centre industry has urged MeitY for clear timelines on approvals and easier right-of-way access to speed up new projects. Industry players also seek incentives and operational guidelines for AI data centres, which need far higher power, cooling,…
OpenAI has launched “shopping research” in ChatGPT, helping users create detailed, well-researched shopping guides for the holidays. The tool compares products, highlights differences, and checks prices and reviews online. Users can tailor searches by budget, features, or recipient, while OpenAI…
Five executives reveal what happens when meritocracy meets mentorship, and why India’s largest e-commerce company is rewriting the rules on who gets to lead.
Elon Musk’s social media platform X rolled out its “About This Account” feature, revealing account creation dates, app usage, and locations. Many MAGA and Gaza-related profiles appear to operate abroad, sparking political reactions. Accuracy issues exist, with some locations wrong.…
Alibaba’s Qwen app has seen a massive surge, crossing 10 million downloads post-relaunch, signaling a strong contender against OpenAI’s ChatGPT. This rapid adoption highlights AI’s growing influence, with Qwen poised to integrate deeply into Alibaba’s e-commerce and lifestyle services, aiming…
Prime Minister Kim Min-seok emphasized AI’s role in economic growth, announcing a 10 trillion won budget allocation for the sector. The government aims to foster an “AI era” with “AI for all.” Meanwhile, South Korean stocks rose, led by semiconductors…
CNN has pulled its articles from Apple News after ending their content-sharing deal. Both companies are now in talks about a possible new agreement that could bring the stories back. Neither Apple nor CNN has commented.
The White House has paused a draft order to override state AI laws, signaling policy uncertainty.
The United Arab Emirates said on Saturday it will invest $1 billion to expand AI infrastructure and AI-enabled services across Africa, with the aim of helping countries meet national development priorities.
In states like Nevada, North Dakota, and the Washington, DC region, traditional industries and public-sector jobs have weakened due to lower tourism, oil prices, federal cuts, and slow hiring. However, a massive AI data-center construction boom has softened the impact…
Mark Zuckerberg and current and former leaders of Meta Platforms agreed to pay the company $190 million to resolve shareholder allegations that they damaged Meta by violating Facebook users’ privacy, according to a settlement unveiled on Thursday.
Intel chief executive officer Lip-Bu Tan dismissed reports about a new hire taking trade secrets from Taiwan Semiconductor Manufacturing Co. to his company, saying the US chipmaker respects other firms’ intellectual property.
Nokia will invest $4 billion into the US to boost AI-driven network technology, the company announced on Friday. The telecom equipment maker said that $3.5 billion of the investment will be allocated to R&D efforts. It added $500 million will…
The Trump administration may allow Nvidia to sell its powerful H200 AI chips to China, signalling a softer tech stance after a recent US-China truce. Officials are reviewing export controls despite security concerns, as Nvidia argues current rules leave China’s…
Taiwan has approved Nvidia’s plan to invest over $30 million to create a new subsidiary and build offices, supporting the company’s expanding operations. The move strengthens ties with chipmaker TSMC as global demand for Nvidia’s AI processors soars. The firm…
A US bankruptcy court has found Byju Raveendran in default for blocking the discovery process and ordered him to pay over $1 billion. The ruling cites ignored orders, missing Alpha Funds and alleged fund diversion. He must also account for…
Australia will bar under-16s from using major social platforms from December 10. Twitch must follow the rule, while Pinterest is exempt. Firms face heavy fines for under-age accounts. Twitch will block new under-16 Australian users and close existing accounts by…
Google faces a crucial federal court hearing today as a judge decides how to curb its alleged illegal monopoly in the digital ad market. The Justice Department is pushing for a breakup of Google’s ad tech, deeming it a “recidivist…
Euphoria over $2.3 billion raise is equal parts paranoia, excitement, says 25-yr-old Aman Sanger, cofounder of one of Valley’s hottest startups. We are acutely aware of the competition, and we look at (them) often for inspiration, because sometimes they do…
Groww Q2 Results: The company said its consolidated revenue from operations came in at Rs 1,018.74 crore, a 9.5% YoY fall from Rs 1,125.38 crore in the 2024 quarter.
Capillary Technologies India shares debuted on Friday with a slight discount to their IPO price. The company’s initial public offering saw robust demand from institutional and retail investors. Capillary Technologies is a prominent SaaS firm specializing in customer loyalty and…
Foxconn chairman Young Liu said on Friday the company now had the capability to manufacture 1,000 artificial intelligence racks per week, and it expected that rate to increase next year.
Nvidia’s shares surged after exceeding earnings expectations, driven by robust demand for its AI-powered chips. CEO Jensen Huang dismissed AI bubble concerns, highlighting a global shift to AI-infused systems and Nvidia’s architectural advantage. Despite geopolitical headwinds impacting China sales, the…
Nvidia reported a significant surge in its fiscal third quarter, with net income up 65% and revenue climbing 62% year-over-year. This performance propelled the company’s market capitalization to over $5 trillion, driven by immense demand for its AI-focused GPUs. The…
Consumers may soon pay more for phones and laptops. AI data centers are demanding more memory chips. This is causing a shortage. Chipmakers are keeping supply tight to maintain high prices. Experts predict significant price increases for gadgets in 2026.…
Founded in 2024 by husband-wife duo Utsav Shah and Shivi Sharma, Kaaj aims to expand access to affordable capital for all small businesses. The startup uses agentic AI workflows to help lenders analyse end-to-end loan packages, create analyses for small-business…
US President Donald Trump is considering an executive order that would seek to preempt state laws on artificial intelligence through lawsuits and by withholding federal funding. The move, which is likely to face pushback from states, shows how far Trump…
A US judge ruled Meta did not illegally crush competition when it bought Instagram and WhatsApp, pointing to rising rivals like TikTok and YouTube. Rapid tech shifts and AI advances are weakening government antitrust cases, helping major tech firms argue…
Bitcoin has tumbled from last month’s record as fears of a renewed US-China trade war, uncertainty over Federal Reserve rate cuts, and a stronger dollar push investors toward safer assets. Market volatility, large liquidations, and wider concerns about crypto stability…
xAI, Elon Musk’s AI firm, is reportedly close to securing $15 billion in new funding at a $230 billion valuation, according to the Wall Street Journal. Details were shared with investors by Musk’s adviser Jared Birchall, according to the report.
Crypto firm Kraken has secured $800 million in funding, valuing it at $20 billion. This marks a significant increase in its valuation. The company is expanding its offerings and user base. This development highlights continued investor interest in digital asset…
A federal judge ruled Tuesday that Meta did not illegally monopolize the social networking market by acquiring Instagram and WhatsApp. The court found the FTC failed to prove Meta maintained a monopoly through these acquisitions, as the market continues to…
Databricks is reportedly discussing a new funding round that could value the company at over $130 billion, far above its previous $100 billion valuation. The AI-focused data platform, which recently raised $1 billion, continues to see strong demand and now…
Pype AI, a Bengaluru startup building voice-based AI agents for hospitals, has secured $1.2 million in pre-seed funding led by Kalaari Capital. The company plans to improve its platform and grow in the US. Its AI handles patient calls, supports…
PhysicsWallah, soon to become India’s first publicly listed edtech firm after the sector’s shake-up, saw a slow start to its IPO before institutions lifted demand on the final day. Subscription was mixed, the grey market cooled, and anchor investors played…
Jeff Bezos is reportedly returning to hands-on leadership, serving as co-chief executive of a new AI firm called Project Prometheus. The venture, heavily funded, aims to use advanced AI to improve real-world engineering and manufacturing. It gathers top researchers and…
Happy Tuesday! Blackstone is in talks to acquire a controlling stake in Jayshree Periwal International School (JPIS). This and more in today’s ETtech Morning Dispatch.
Many people are turning to chatbots for health advice because doctors feel rushed, costly, or hard to reach. Users appreciate quick, friendly replies, even though AI can be wrong. This growing reliance worries experts, as some patients follow unsafe chatbot…
Happy Monday! New-age companies that listed this year have generated sizeable gains for investors. This and more in today’s ETtech Morning Dispatch.
Marketplaces are looking to show up better on chatbots like ChatGPT, Perplexity, Claude, Google Gemini and other silicon savants that users turn to for ecommerce shopping. Experts said that other ecommerce players and quick commerce firms are likely to follow…
According to EY India, of the nearly Rs 10,000 crore anticipated in investments, consent management—a crucial element of compliance—could represent about 10% as large enterprises embed consent systems into their digital infrastructure over the next 12 to 18 months.
The busy IPO season of 2025 is handing out some of the biggest returns to venture capital firms that backed these companies early. ET’s calculations show that VC firms have taken exits of around Rs 15,000 cr through recent listings,…
Gaming companies are reporting large write-downs after India’s real money gaming ban, with major players such as Flutter, Clairvest and Nazara recording heavy impairments. Payment firms are also seeing reduced volumes as gaming transactions fall. Several gaming platforms have shut…
The EU plans to ease parts of its AI and data protection rules to help European businesses compete with US and Chinese rivals. Critics argue the changes weaken privacy by narrowing the definition of personal data and delaying key AI…
Cities and states in the United States are using AI to monitor and repair ageing roads. Hawaii, San Jose and Texas are adopting cameras and mobile data to detect hazards such as potholes, debris and damaged guardrails. These tools help…
Leaked documents reveal OpenAI’s growing financial ties with Microsoft, showing payments of $494 million in 2024 and $866 million in early 2025. The company’s compute costs for running AI models have soared, suggesting spending on inference may exceed revenue.
Actor Rana Daggubati appeared before Telangana’s SIT over alleged promotion of an online betting app. The state, under the Gaming Act 2017, investigates illegal betting that targets youth and causes financial and psychological harm. Several app promoters, actors, and influencers…
Leading private equity firms Warburg Pincus and Permira are reportedly in discussions to acquire Clearwater Analytics, a software provider for investment and accounting management. This potential deal, which could finalize in weeks, follows the firms’ previous involvement in Clearwater’s 2021…
Disney channels, including ABC and ESPN, have returned to YouTube TV after a two-week blackout. The agreement ends a dispute over licensing fees, with both sides expressing satisfaction that content is back for fans. This resolution follows a period of…
Welcome to a new edition of ETtech Unwrapped — our weekend newsletter packed with the most important stories this week. Let’s take a look.
The privacy law in the world’s largest data market with over 800 million internet users has been 15 years in the making. Several provisions of the Act became effective Friday, while others will come into force in a graded manner…
The ITC said in an order that it would investigate whether Apple Watches that were redesigned to circumvent a previous import ban issued by the commission still infringe Masimo patents covering blood-oxygen measurement technology.
Cursor, a San Francisco code-generation startup, lifted its valuation to $29.3 billion after raising $2.3 billion in a funding round backed by major investors like Nvidia, Google and Accel. The latest financing comes amid a sharp rise in investor interest…
Thinking Machines Lab, founded by ex-OpenAI leader Mira Murati, is reportedly seeking new investment that could lift its valuation from $12 billion to around $50–60 billion. Talks are early and terms may shift. The firm recently faced a cofounder’s departure.…
Apple will cut App Store commissions to 15% for “mini app” developers who use its age-range technology. Mini apps, common in China and growing elsewhere, sit inside larger host apps. The move ties into wider disputes over youth-safety rules, with…
Happy Friday! Peak XV Partners is set to make big gains from Pine Labs’ public listing today. This and more in today’s ETtech Morning Dispatch.
Says Google’s in-country investments in line with sovereign regulatory requirements
Happy Thursday! Wealthtech company Groww successfully listed on the bourses, minting money for early backers. This and more in today’s ETtech Morning Dispatch.
Seeks meritocratic, supportive ecosystem for the young
HCLTech led the pack among the top-tier firms, posting a 2% increase in RPE to more than $16,000 (₹14.17 lakh) in the quarter ended September 30 when its headcount grew 3.7%, according to market intelligence firm UnearthInsight Research. Market leader…
India is the second largest market for the US-headquartered collaborative interface design company in terms of active user base and has been seeing increasing demand from companies in the region. ET was the first to report, on November 6, that…
Aimed at measuring sensitivity of non-personal data, the move may potentially open up a trove of public sector data—such as anonymised collective land ownership patterns, historical weather figures, traffic movement and aggregated industry data—to the private sector beyond what is…
Nasscom says new system creates geographic, sectoral inequality and is legally questionable
The company is targeting startups that are between the early and growth stages with investments of $5–20 million, Italia told ET in an interview. Its V3 Ventures arm invests in early-stage companies while Verlinvest supports startups in the growth stage.
Gen Z and millennials are driving demand for uniquely designed, India-inspired sports shoes priced Rs 3,000–5,500. Home-grown D2C brands like Comet, Gully Labs and Neeman’s are scaling fast, attracting investors despite manufacturing challenges, with rising loyalty, offline expansion and strong…
The draft rules proposed by MeitY require platforms and users to label AI-generated visuals with a visible marker covering at least 10% of the display area, or, for audio, add a disclaimer for the first 10% of the content duration.
While Big Tech continues to surge, traditional IT services and consulting majors are feeling the heat as automation disrupts their outsourcing models. SaaS firms, caught in transition are racing to stay relevant as AI agents threaten their foundations.
The Kerala-based startup claims that its AI-powered ESG compliance tool helps companies automate the risk management process. Using this tool, it claims to directly compete with McKinsey, KPMG, and PWC.
The demand for experienced professionals is far outpacing supply, with firms aggressively poaching from banks, brokerages and traditional wealth managers, sources said. In addition, many of these RMs are starting up as mutual fund distributors or personal wealth managers, resulting…
SoftBank in India seeing a much better deal pipeline now, especially in AI, Sumer Juneja said. SoftBank’s 13% stake in Lenskart, which listed on Monday and closed at a market cap of ₹69,967 crore, presently has a paper value of…
Y Combinator’s funnel of startups acts as a filter for investments in AI by Indians venture capitalists, Swathi Moorthy writes.
On the eve of the listing, CEO Peyush Bansal emphasised that the IPO is the start of a new chapter for the company. “The bell will ring. We’ll take a deep breath, smile and get back to work. Because for…
The statement addressed a South Korean news outlet’s report about an unnamed former LG Energy Solution executive allegedly attempting to pass on pouch cell technology intellectual property to Ola Electric.
Speaking at the valedictory function of the Sixth Full Meeting of the Standing International Forum of Commercial Courts (SIFoCC), Justice Kant stressed that the future of law depends on whether technology can be harnessed as a tool without surrendering the…
Rapido cofounder Aravind Sanka told PTI that the company expects to maintain its growth rate of 100 per cent year-on-year for the next few years and be a much larger player compared to its nearest competitor before going for the…
The National Conference on ‘DigiLocker-Enabling Paperless Access for All’ was held this week in New Delhi, bringing together senior government officials, leaders from the technology and financial sectors, educationists, and digital governance experts, a press release said.
IPO-bound Boat is experiencing a rising employee attrition rate, reaching 34% in FY25, with 161 full-time employees leaving. This trend, coupled with intense competition for talent, raises concerns about future growth and competitiveness. The company has also seen recent leadership…
Global telecom operators are leveraging AI to enhance network operations, customer service, and fraud prevention, leading to EBITDA margin gains and improved ARPU. This strategic adoption is accelerating time-to-market for new services, enabling better monetization of technologies like 5G and…
International startups from Singapore and Canada are eyeing India for expansion. They see massive market potential and a growing startup ecosystem. Companies in battery recycling, air cargo software, and health tech are keen to enter the Indian market. They are…
Tech stocks faced pressure Friday, pulling major indices down. President Donald Trump stated he loves AI and believes it is the future. Despite his comments, shares of Amazon, Alphabet, and Nvidia saw declines. This downturn affected the Nasdaq Composite Index…
Taiwan’s exports in October surged 49.7% year-on-year to $61.8 billion, a record monthly high, driven by strong global demand for artificial intelligence technologies (AI), according to Focus Taiwan.
The move by the European Commission came amid intense lobbying by big tech companies and criticism from the U.S. administration against the AI Act adopted last year, which applies risk-based rules to artificial intelligence.