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News on Medial
OpenAI doubles annualised revenue to $3.4 billion, says report
Livemint
·
1y ago
Medial
OpenAI is projected to generate $3.4 billion in annual revenue, with $3.2 billion coming from its products and services. An additional $200 million is expected to be made through Microsoft Azure by offering access to its AI models. OpenAI has seen success with its ChatGPT and has been working to increase revenue by selling services to enterprise customers. The company has recently hired a new CFO, Sarah Friar, to support its AI research and global growth.
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India’s SaaS sector tops $15 billion in revenue as IPO pipeline builds - The Economic Times
Economic Times
·
1m ago
Medial
India's software-as-a-service (SaaS) sector surpassed $15 billion in annual revenue for FY24, with 36 companies achieving over $100 million in annualised recurring revenue, as per a report by JM Financial. The sector grew at a CAGR of 24% from FY19 to FY24, driven by high margins and profitability. The sector's evolution includes a shift in valuation focus from growth to profitability, with vertical SaaS firms growing faster than horizontal ones. The outlook remains positive for sustained growth.
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Google’s CEO says ‘AI is positively impacting every part of the business’
The Verge
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1m ago
Medial
Google's CEO Sundar Pichai highlighted the positive impact of AI across the company's operations in Alphabet's Q2 2025 earnings report. The company saw a revenue increase to $96.4 billion, with significant growth in its Google Search segment. AI features like AI Overviews and AI Mode are popular among users, contributing to the company's success. Alphabet plans to raise its capital expenditures to $85 billion to keep up with the data center expansion trends noted among tech giants like OpenAI and Meta.
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GenAI startups biggest driver of unicorns, says VC firm Accel
Economic Times
·
1y ago
Medial
According to venture capital firm Accel, generative artificial intelligence (GenAI) companies have become the major driver of unicorns (startups reaching a $1 billion valuation). The report reveals that 60% of new unicorns are falling into this category. While European and Israeli GenAI startups received close to $1 billion in funding in the last 12 months, U.S. startups received over $14 billion, partly due to a $10 billion funding to OpenAI alone. The report suggests that specialized AI applications in cybersecurity, healthcare, construction, and legal will gain traction in the future.
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Funding winter becomes harsher: VC funding in Indian start-ups drops by 74.6%
Business Today
·
2y ago
Medial
The funding winter in India appears to be turning harsh, going by the latest report of data and analytics company GlobalData. It revealed that 459 venture capital (VC) deals worth $3.4 billion were closed between January and May 2023. This is dismally low compared with the 851 deals worth $13.3 billion closed in the year-ago period.
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Apple’s licence-fee income from India doubles to $532 mn
The Arc Web
·
9m ago
Medial
Apple India paid Rs 4,490 crore ($532 million) as licence fees or royalty payments to its global subsidiaries in the fiscal year 2024. This represents a 2X increase from the previous year. Similarly, Samsung India paid Rs 3,322 crore ($394 million) to its parent company, a 50% increase from the previous year. The licence fee payment for Apple India accounted for about 6.8% of its operating revenues, while for Samsung India, it was about 3.4% of total revenues. Apple India generated most of its revenue from the sale of its products, amounting to Rs 63,297 crore. The unit reported a net profit of Rs 2,746 crore, a 23% increase.
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OpenAI on track to generate more than $1 billion revenue over 12 months
Economic Times
·
2y ago
Medial
OpenAI is set to exceed $1 billion in revenue over the next year from its AI software and computing capacity sales, according to a report by The Information. This projection is a significant increase from the earlier estimate of $200 million for this year. The company, known for its ChatGPT model, has been generating more than $80 million in revenue per month, compared to $28 million in the entire previous year. OpenAI offers API access to its AI models for developers and enterprises, with support from its partnership with Microsoft, which invested over $10 billion in the company in January.
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Funding into Karnataka-based tech startups plummets by 72%: Report
Livemint
·
1y ago
Medial
According to a report by Tracxn, funding in Karnataka's tech startups has dropped by 72% to $3.4 billion in 2023. This is a significant decline from the $12.2 billion raised in 2021 and the $20.4 billion raised in 2022. Late-stage investments saw a 74% decline, while early-stage funding dropped by 71%. Only two startups, PhonePe and Udaan, received the highest funding in 2023. The report also revealed that no new unicorns emerged and no companies went public from the startup ecosystem in Karnataka in 2023. Fintech, retail, and enterprise applications were the top-funded segments in this period. Bengaluru led in terms of city-wise funding.
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Zepto triples annualised GOV to $3B in eight months ahead of IPO
YourStory
·
7m ago
Medial
Zepto, a quick commerce unicorn, has tripled its annualised gross order value to $3 billion in eight months, with revenue for FY24 doubling to Rs 4,454 crore. Co-founder and CEO Aadit Palicha credits this to the team's discipline and execution, with plans for profitability soon. Founded in July 2021, Zepto competes with firms like Swiggy Instamart and Blinkit. Preparing for an IPO, it aims to raise over $500 million while enhancing domestic shareholding.
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30 Startups To Watch: Startups That Caught Our Eyes In October 2024
Inc42
·
9m ago
Medial
In Q3 2024, Indian startups raised a record-breaking $3.4 billion in funding, more than double the amount raised in the same quarter last year. Deeptech and enterprise tech continue to dominate, but this edition of "30 Startups to Watch" also includes emerging sectors like semiconductors and D2C. The report, powered by Google Cloud, highlights the resilience and innovation of Indian startups in shaping the country's startup ecosystem.
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OpenAI sees $11.6 billion revenue next year, offers Thrive chance to invest again in 2025
Economic Times
·
11m ago
Medial
Thrive Capital is set to invest over $1 billion in OpenAI's current $6.5 billion fundraising round. As part of the deal, Thrive has the potential to invest another $1 billion next year if OpenAI reaches a revenue goal. OpenAI predicts its revenue will reach $11.6 billion in 2023, while losses for this year could be as high as $5 billion. The funding round, expected to close next week, could value OpenAI at $150 billion. Thrive Capital led OpenAI's previous funding round and is offering $1.2 billion for this round. Other investors include Microsoft, Apple, Nvidia, and Khosla Ventures.
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