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News on Medial
Ex-Tesla executive signs letter of intent with Stargate’s Crusoe
Economic Times
·
1m ago
Medial
Former Tesla executive Drew Baglino's startup, Heron Power Electronics Co., has signed preliminary deals, including with Crusoe, to address AI infrastructure challenges and transformer shortages. Heron’s technology eliminates the need for traditional transformers, enabling efficient connections to the grid and stabilizing energy flow. The innovation aims to support rapid renewable energy expansion and growing power demands. Baglino believes Heron might collaborate with Tesla Energy in the future as energy storage grows.
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'Morale is at an all-time low': Ex-Googler writes scathing letter slamming layoffs and 'eroded' culture
Business Insider
·
1y ago
Medial
An ex-Google employee recently published a scathing letter criticizing the company's culture, accusing CEO Sundar Pichai of lacking visionary leadership. The letter mentions the deterioration of transparency and morale at Google, with claims that employees are unhappy and unable to explain the company's vision. It also criticizes the increasing bureaucracy and short-sighted layoffs at Google. While some current and former employees agree with the sentiments expressed in the letter, others believe it reflects the author's own perspective.
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Ex-OpenAI staff call for “right to warn” about AI risks without retaliation
Arstechnica
·
1y ago
Medial
A group of former OpenAI and Google DeepMind employees has penned an open letter calling on AI companies to allow their employees to voice concerns about AI risks without fear of retaliation. The letter highlights the potential risks of AI, including inequality, manipulation, and loss of control, and argues that companies need to be more transparent about their systems' capabilities and risks. The signatories call for four key principles, including not enforcing agreements that prohibit criticism and supporting a culture of open criticism. The letter has received support from prominent figures in the AI community.
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iPhone maker Foxconn's Hyd plant to start in Aug, adding 25k jobs
Inshorts
·
1y ago
Medial
Foxconn is building a plant near Hyderabad, Telangana, initially creating 25,000 jobs and eventually over 100,000. Starting in August, it will manufacture Apple’s AirPods, marking Foxconn’s first audio device production for Apple in India. The plant, completed in 1.5 years instead of 2.5, reflects Foxconn's $500 million investment. Chairman Young Liu signed a letter of intent in March 2023.
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Starlink to get licence to operate in India soon: Jyotiraditya Scindia
Economic Times
·
1m ago
Medial
Elon Musk's Starlink is set to receive approval to operate in India, with a Letter of Intent already issued. The company awaits clearance from the Indian National Space Promotion and Authorisation Centre. With approval expected soon, Starlink will join OneWeb and Reliance in providing satellite-based internet. Amazon's Project Kuiper also seeks entry into India. The Telecom Regulatory Authority of India recently set spectrum charges for satellite communication companies, supporting subsidies for rural user terminals.
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Singapore, India exploring pact on green digital shipping corridor
Economic Times
·
4m ago
Medial
Singapore and India are exploring a Letter of Intent (LoI) for establishing a green digital shipping corridor (GDSC), aiming to connect India's marine sector to the global network via Singapore. The LoI is expected to be signed during Shipping Minister Sarbananda Sonowal's visit to the Singapore Maritime Week. This initiative would enable India to export green fuels, including biofuels, and share digital expertise, integrating with Singapore's prominent maritime ecosystem.
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Karnataka signs Letter of Intent with New Jersey to strengthen tech and innovation ties
Economic Times
·
7m ago
Medial
The Karnataka government has signed a Letter of Intent (LoI) with the New Jersey Department of State, USA, to enhance cooperation in technology, innovation, and economic development. The agreement aims to establish collaboration between Bengaluru and New Brunswick, focusing on areas such as startup ecosystem engagement, technological advancements in life sciences and deep technologies, and promoting exchanges between the two cities. This partnership aligns with Karnataka's Global Innovation Alliances initiative, which aims to foster international collaboration and knowledge-sharing.
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Starlink gets nod for satcom services as telecom dept issues LoI
YourStory
·
2m ago
Medial
Starlink, led by Elon Musk, has received approval for satellite communication services in India, with a Letter of Intent issued by the Department of Telecommunications. This service, employing low Earth orbit satellites, promises high-speed internet access worldwide. The approval aligns with stringent security regulations, including local data processing and system monitoring. While Starlink aims to enhance connectivity in remote areas, officials emphasize its limited competition to traditional telecom networks due to higher costs and subscriber limitations.
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Ford in talks with JSW for India re-entry
Livemint
·
10m ago
Medial
Ford Motor Company is reportedly in discussions with JSW Group, led by Sajjan Jindal, to restart operations at its Chennai facility for production purposes. The talks come after Ford signed a letter of intent with the Tamil Nadu government to repurpose the factory for export markets. Details of the potential alliance with JSW Group are still unclear and are regarded as exploratory conversations at this stage. Ford is committed to India as an important market and currently employs 12,000 individuals in the country.
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Tech Mahindra ex-CEO CP Gurnani joins upGrad's board
Inshorts
·
1y ago
Medial
Former Tech Mahindra CEO CP Gurnani has joined edtech unicorn upGrad's board of directors. He has been appointed as an independent non-executive director on the board. Gurnani retired from his position as Chief Executive Officer and Managing Director at Tech Mahindra last month after working with the company for 19 years.
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Cars24 Bags INR 250 Cr From Singapore-Based Parent Entity
Inc42
·
12m ago
Medial
The startup Cars24 has received approval from its board to allot 2.18 lakh equity shares to its parent company Global Car Group Limited in Singapore. However, there is no information available about how the funds will be utilized by the Delhi NCR-based startup. This fundraising round follows Cars24's recent pilot of a driver-on-hire service and signing a letter of intent to join the state-backed ONDC initiative.
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