Homegrown Tata Consultancy Services Ltd, the country’s largest information technology (IT) services company, and India-heritage Cognizant Technology Solutions Corp. were among the companies targeted by two senators, Republican Charles E. Grassley and Democrat Richard J. Durbin, over hiring practices. A third senator, Tom Cotton, is considering bills to reform of H-1B programme, while his Republican … Read more
Nvidia will invest $100 billion in OpenAI to support the development of new data centers and other infrastructure needed to power the next generation of AI models from the ChatGPT maker. The two companies have signed a letter of intent to deploy at least 10 gigawatts of Nvidia systems for training and running the next … Read more
Nvidia on Thursday said that it will invest $5 billion in Intel and partner with the struggling chipmaker to build artificial intelligence infrastructure and personal computer products, in what the companies called a “historic collaboration.”As part of the agreement, Nvidia will buy Intel common stock at $23.28 a share, subject to regulatory approvals, AP reported. … Read more
In a surprise announcement, company has announced exit from it’s main business – the airport lounge access. That’s the business the Company was built upon, was known for and had got most of it’s fan following. (check my Company notes for details) There were speculations that this would eventually happen as the largest airport operator … Read more
The Company has announced a buyback of Rs 18,000 cr. Around 10 crore shares will be purchased at Rs 1,800 apiece, a 19% premium over the stock’s previous closing price. The buyback will account for 2.41% of the existing equity This is the fifth buyback by Infosys and it’s largest. Previous buybacks were of Rs … Read more
AI startup Perplexity has secured commitments from investors for $200 million in new funding at a $20 billion valuation, the Information reported on Wednesday, citing a person with knowledge of the matter. Reuters could not immediately verify this report and Perplexity did not immediately respond to a request for comment. Run by Aravind Srinivas, Perplexity … Read more
The Indian technology services outsourcing sector, valued at $283 billion, derives over 60% of its earnings from US. (AI image) India’s IT sector is worried about the possible imposition of tariffs on software exports to the US by the Donald Trump administration. The IT sector is already experiencing challenges due to worldwide economic uncertainties and … Read more
In March 2000, Barron’s asked, “When will the internet bubble burst?” warning the pop could happen before year-end. On that same day, a top tech company saw its share price drop 60pc, and many others collapsed, wiping out trillions. Now, some Wall Street experts worry the same “unpleasant popping sound” may hit the AI boom. … Read more