For decades it seemed Indian IT could only grow. The Y2K bug turbocharged their initial expansion in the late 1990s, and though later waves of changing technologies brought down other companies (remember Nokia), the Indian IT sector surfed to success. With every new technology, they pivoted. From SMAC (social, mobile, analytics and cloud) to SaaS … Read more
“The AI bubble is actually an OpenAI bubble,” AI critic and researcher Ed Zitron says, arguing that the ChatGPT maker sits in the centre of today’s AI boom. If it collapses, he warns, it could become “the Lehman Brothers of the AI bubble.” “OpenAI is the reason anyone cares about AI,” Zitron says and further … Read more
The AI boom has unleashed an unprecedented wave of spending, with technology companies committing hundreds of billions of dollars to AI infrastructure, data centres, chips, and startups. But amid this investment frenzy, one key question remains: where is all the money actually going? OpenAI led AI boom Today’s AI spending wave can be traced back … Read more
Shapoorji Pallonji Group and Tata Sons held fresh discussions to explore the monetisation of an estimated 7% in the Tata group holding company, according to people familiar with the matter. SP Group has a 18.37% stake in Tata Sons and wants to sell some of that to repay part of its estimated debt of ₹60,000 … Read more
The story so far: The Global Capability Centres (GCCs) are wholly-owned, captive firms of multinationals that serve only their global parent company. These offices of multinationals are reshaping the urban office spaces and job markets in Bengaluru, Hyderabad, Pune and a host of other Indian cities. They have added a layer of high-paying jobs at … Read more
The Central Board of Direct Taxes (CBDT) will soon allow taxpayers to see the information the tax department has received from abroad regarding their foreign assets and incomes, sources in the CBDT have said. India receives information from more than 100 countries under the Automatic Exchange of Information (AEOI) framework. This information can include details … Read more
Godrej Agrovet has appointed Gaurav Pande as chief executive officer of its dairy subsidiary, Creamline Dairy Products Ltd, as the agri-business company looks to accelerate growth, strengthen its market position and expand the Godrej Jersey brand. Pande will lead Creamline’s next phase of growth, focusing on market leadership, business transformation, innovation and expanding the brand’s … Read more
OnePlus is reportedly charting a phased withdrawal from every market outside China, with an exit from the US and Europe expected to begin within days and a departure from India following by 2027, according to a Bloomberg report citing a person familiar with the matter. US and Europe exit could begin this week The initial … Read more
With a little help from BlackRock, the world’s largest asset manager, IPO-bound Udaan has struck a deal with a string of offshore lenders to avoid bankruptcy. Earlier this week, the internet commerce company reached an agreement to restructure its debt with its shareholders and global creditors who had initiated insolvency proceedings in the Singapore High … Read more