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C3.ai falls on worries AI investments will eat into profitability

Economic Times

Economic Times · 1y ago

C3.ai falls on worries AI investments will eat into profitability

Shares of AI-based software maker C3.ai dropped approximately 8% as it warned of a larger-than-expected annual loss due to increasing expenses on pilot programs and extended sales cycles. The company's profitability outlook has been affected, despite its previous surge in stock value driven by the rising interest in AI-related stocks. C3.ai has also faced scrutiny from short sellers, adding further pressure. The average rating of 14 analysts covering the stock is "hold," with a median price target of $28.

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Meta, Microsoft reports lift AI-related stocks

Economic Times

Economic Times · 3m ago

Meta, Microsoft reports lift AI-related stocks

Shares of AI and cloud-computing companies surged following better-than-expected earnings from Meta Platforms and Microsoft. Nvidia and Advanced Micro Devices saw increases, with Amazon and Alphabet shares also rising. Microsoft's strong Azure growth reassured investors about its AI investments, while Meta's AI tools attracted advertising despite economic uncertainties. Super Micro Computer and C3.AI experienced modest gains, with Super Micro's earlier session slump partly recovered.

Udaan valuation falls to $1.8 billion from $3.2 billion in down round

Economic Times

Economic Times · 1y ago

Udaan valuation falls to $1.8 billion from $3.2 billion in down round

B2B ecommerce company Udaan's valuation has dropped to around $1.8 billion in a down round, marking a significant decrease from its last valuation of $3.2 billion. The Bengaluru-based startup closed a $340 million financing round in December 2021, which included converting debt into equity. Udaan has been scaling down operations and reducing costs to reach profitability. The company has set operational targets and plans to reach profitability over the next two quarters. Udaan's parent company is considering an IPO within the next 12-18 months.

EU's Vestager meets French tech firm Mistral AI amid competition concerns

Economic Times

Economic Times · 1y ago

EU's Vestager meets French tech firm Mistral AI amid competition concerns

European Union antitrust chief, Margrethe Vestager, emphasized the need for more competition in the AI sector during a meeting with Mistral AI, a fast-growing French start-up. Vestager has been investigating the partnerships between Big Tech companies and AI start-ups, raising concerns about potential domination in the field. Microsoft's $16 million investment in Mistral AI and collaboration with the company to make AI models available on its Azure platform, as well as similar investments by Amazon and Google in Anthropic, have triggered regulatory worries. Mistral AI is reportedly in talks to raise several hundred million dollars, with an estimated valuation of $5 billion.

Indian agritech startups saw 45% fall in funding between FY22 and FY23: report

Economic Times

Economic Times · 1y ago

Indian agritech startups saw 45% fall in funding between FY22 and FY23: report

According to a report from consulting firm FSG, investments in Indian agritech startups experienced a 45% decline between the fiscal years 2021-22 and 2022-23, due to global interest rate hikes and investor caution. Similarly, global agritech investments decreased by 10% in the same period. The report suggests that the funding slump will continue into FY24 before rebounding in FY25, and urges startups to focus on profitability during this time. It also notes that mid-stream agritech startups have seen growth and late-stage funding rounds.

Zomato, Swiggy And The New Shades Of Food Delivery

Inc42 · 1y ago

Zomato, Swiggy And The New Shades Of Food Delivery

Food delivery in India, particularly outside of metros and cities, is facing slow growth as quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart gain popularity. The availability of ready-to-eat products and groceries on these platforms has impacted the food delivery business. Zomato's food delivery gross order value declined quarter-on-quarter, while quick commerce saw significant growth. Both Zomato and Swiggy are relying on platform fees to increase their take rate, but the future growth for food delivery depends on the growth in the restaurant business and attracting new customers. Despite the challenges, Zomato aims to optimize profits and improve profitability. Start-up funding in India has also seen a decline. Delhivery plans to expand into drone manufacturing and freight air transportation services.

Apple could fully integrate in-house 5G modem by 2028: Mark Gurman | Mint

Livemint

Livemint · 5m ago

Apple could fully integrate in-house 5G modem by 2028: Mark Gurman | Mint

Apple is working towards integrating its in-house 5G modem into its chipset by 2028, reducing dependence on Qualcomm. The company debuted its first modem, the C1, with the iPhone 16e, but it currently occupies a separate motherboard space. Apple is testing newer models, C2 and C3, with full integration aimed for 2028. Despite its power efficiency claims, Apple's modem lacks mmWave support and trails Qualcomm's performance, potentially impacting data speeds.

Federal regulators grant antitrust probe into Microsoft, OpenAI and Nvidia

Livemint

Livemint · 1y ago

Federal regulators grant antitrust probe into Microsoft, OpenAI and Nvidia

The US Department of Justice (DOJ) and the Federal Trade Commission (FTC) have reached a deal to investigate Nvidia, OpenAI, and Microsoft over potential antitrust concerns related to their involvement in artificial intelligence (AI). The DOJ will lead the investigation into Nvidia, the leading AI chip manufacturer, while the FTC will focus on OpenAI, in which Microsoft has made significant investments. The agreement reflects the growing regulatory scrutiny around AI technology and its impact on various aspects of society. It follows similar antitrust investigations into major tech companies in the past.

AI-generated Al Michaels to provide daily recaps during 2024 Summer Olympics

Arstechnica

Arstechnica · 1y ago

AI-generated Al Michaels to provide daily recaps during 2024 Summer Olympics

NBC plans to use an AI-generated clone of renowned sports commentator Al Michaels' voice to narrate daily recaps of the 2024 Summer Olympics on its streaming service, Peacock. The AI-powered narration worries critics who fear it could replace and overshadow emerging sports commentators. NBC states that it has created a high-quality AI re-creation of Michaels' voice, trained on his past appearances. While the technology will not replace human commentators in this year's Olympics coverage, it raises concerns about the potential long-term impact on the industry.

Google names insider Kavukcuoglu to lead AI-powered product development

Economic Times

Economic Times · 1m ago

Google names insider Kavukcuoglu to lead AI-powered product development

Google has appointed Koray Kavukcuoglu, chief technology officer of its DeepMind AI lab, as its new chief AI architect. In this expanded role, Kavukcuoglu will focus on integrating AI models into products for faster and more efficient development. This strategic move comes as Alphabet aims to showcase financial returns from AI investments amidst rising market pressures and competition. Kavukcuoglu will remain DeepMind’s CTO while reporting directly to CEO Sundar Pichai.

Yulu eyes expansion as it closes in on profitability

Money Control

Money Control · 2y ago

Yulu eyes expansion as it closes in on profitability

Yulu, a bike-sharing startup, is approaching profitability and aims to expand its operations. The company's CEO, Amit Gupta, stated that they are on track to achieve profitability in the next few months. Yulu plans to use the funds generated to enhance its technology platform, expand into new cities, and introduce new micro-mobility solutions. The focus on profitability highlights Yulu's growth and sustainability in the competitive startup landscape. The startup, which currently operates in Bengaluru, Delhi and Mumbai, will venture into cities including Hyderabad, Pune, Chennai, Kolkata and Ahmedabad over the next 15 months.

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