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  • Elon Musk starting an AI venture — reports; SpaceX Super Heavy rocket test as early as today

    Elon Musk starting an AI venture — reports; SpaceX Super Heavy rocket test as early as today
    2023/04/17
    Elon Musk, once a large backer of OpenAI, is planning to launch an artificial intelligence startup of his own, CNBC reports, citing an article in the Financial Times from Friday last that is behind a paywall. The company is called X.ai, according to the Wall Street Journal, which also reported the news, citing a filing in the US state of Nevada. Musk is listed as a director of the new company, according to the journal. Also in this brief, Vivo plans to expand smartphone manufacturing in India, and PC sales are headed for a slump in the country
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  • TCS Q4 growth hit by negative sentiment among US customers; CEO Rajesh Gopinathan to exit June 1

    TCS Q4 growth hit by negative sentiment among US customers; CEO Rajesh Gopinathan to exit June 1
    2023/04/13
    Tata Consultancy Services kicked off the Indian IT services sector's fiscal fourth-quarter earnings yesterday, reporting that clients in the US, the sector's biggest market, were holding back on discretionary spending and that an expected pickup from the previous quarter didn't materialise. Growth was led by a strong performance in the UK, and the company ended the fiscal year 2023 with 6,14,795 employees. Also in this brief, pi Ventures gets a commitment from SIDBI for its next early-stage tech startup fund
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  • China releases draft rules on generative AI products; Apple, finally, sets dates for stores in India

    China releases draft rules on generative AI products; Apple, finally, sets dates for stores in India
    2023/04/12
    Apple, after years of anticipation, is finally ready to open its own stores in India. The first two are coming up in Mumbai and New Delhi. They are set to open on April 18 and April 20, respectively. China's powerful Cyberspace Administration has released draft rules to regulate generative AI products as companies such as Alibaba and Baidu launched their rival products to OpenAI's ChatGPT, CNBC reports. Also in this brief, CapitalG invests AlphaSense, and HARMAN will open a Chennai software centre soon
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  • Gartner raises IT services forecast for 2023 ahead of TCS, Infosys earnings results this week

    Gartner raises IT services forecast for 2023 ahead of TCS, Infosys earnings results this week
    2023/04/10
    Worldwide IT spending is projected to touch $4.6 trillion in 2023, increasing by 5.5 percent over 2022, according to the latest forecast by Gartner, widely seen as the top IT market forecaster advising enterprise CIOs. While the devices segment is expected to contract the most among the various categories, the IT services segment is now expected to grow faster. Gartner forecasts IT services spending in 2023 to increase by 9.1 percent, compared with its January forecast of 5.5 percent. Capital markets analysts in India are hoping for "front-ended" guidance from Infosys
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  • India notifies IT rules to establish fact checker for 'government business' content; Startup funding continues to fall

    India notifies IT rules to establish fact checker for 'government business' content; Startup funding continues to fall
    2023/04/07
    India yesterday notified changes to its information technology rules that now require all intermediaries — such as social media platform providers and internet services providers — to rely on a government-backed fact check unit concerning any content related to "government business," according to an official statement. Also in this brief, Q1 of calendar 2023 saw startup funding continue to fall, according to data from Tracxn
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  • Skyroot Aerospace conducts successful long duration test of cryogenic engine and also advances green fuel tech

    Skyroot Aerospace conducts successful long duration test of cryogenic engine and also advances green fuel tech
    2023/04/05
    India's Skyroot Aerospace, yesterday announced it had conducted a long-duration test of a 3D-printed cryogenic engine, firing it for 200 seconds — an important milestone in developing the private space venture's higher payload capacity rockets. The test also yielded vital data for advancing the company's use of LNG — a greener alternative to the more widely used fuels today, the company said in a press release. Also in this brief, PhonePe, a Walmart group company in Bengaluru, yesterday launched Pincode, an app built on top of India's Open Network for Digital Co
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  • TCS announces surprise CEO change: Rajesh Gopinathan resigns, Krithivasan is the new boss

    TCS announces surprise CEO change: Rajesh Gopinathan resigns, Krithivasan is the new boss
    2023/03/17
    Tata Consultancy Services, India's biggest technology services and consulting company, announced a surprise change at the top yesterday. CEO Rajesh Gopinathan has resigned to "pursue his other interests," and K Krithivasan, another company veteran will take over in the coming months, the Mumbai-listed IT giant told the stock exchanges after the markets closed. Also in this brief, Xoriant, an engineering services provider in the US, gets a new chief executive; and the UK bans TikTok on government devices
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  • Early-stage startup funding shored up deal volume in India in 2022, but funding fell 33 pct — Bain-IVCA report

    Early-stage startup funding shored up deal volume in India in 2022, but funding fell 33 pct — Bain-IVCA report
    2023/03/16
    Venture capital funding for India's startups fell from $38.5 billion in 2021 to $25.7 billion in 2022, according to the latest report on the sector by Bain and Company, a consultancy, and Indian Venture and Alternate Capital Association. However, more early-stage deals were struck in 2022, helping the overall deal volume to be marginally higher, according to the report, released yesterday. Also in this brief, the Indian IT services sector has become a less significant recruiter, according to a staffing company
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