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Why India is so far behind in the tussle for AI supremacy
Livemint
ยท
2m ago
Medial
India faces significant challenges in achieving AI innovation and research parity with the US and China. Despite a surge in AI-focused startups, the country lags in patents and groundbreaking research, with only 5% of the patents filed by China. This shortfall is attributed to limited foundational engineering, research, and development (ER&D) investment. Consequently, Indiaโs AI endeavors are often secondary innovations, lacking the global economic influence of primary, patentable technologies.
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Blume Ventures invests $10 million in edtech firm Interview Kickstart, largest maiden cheque
Economic Times
ยท
1y ago
Medial
Bengaluru-based venture capital firm Blume Ventures has invested $10 million in Upward & Onward, the company behind software and AI-based upskilling platform, Interview Kickstart. The US-based platform offers programmes in AI, machine learning and data science, among other advanced engineering areas. Over 20,000 professionals have completed its courses so far. The funding will be used to expand the platform globally, starting with India. In addition, founder Ryan Valles said the company's programmes have helped students secure job offers worth over $250,000, with the highest offer reaching $1.2 million.
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Andrew Ng plans to raise $120M for next AI Fund
TechCrunch
ยท
1y ago
Medial
The AI Fund, a startup incubator founded by Andrew Ng, plans to raise over $120 million for its second fund, AI Venture Fund II. The SEC filing shows that the fund has so far raised $69.75 million from 13 partners. Ng, who is a prominent figure in the AI community and the founder of Google Brain, launched the AI Fund in 2018 with $175 million. The idea behind the fund is to provide funding to companies in the seed and series A stages, connecting them with Ng's extensive network. The second fund is expected to be smaller than the first, but still larger than the initial target of $50 million. This comes as generative AI dealmaking has declined in recent quarters, potentially due to enterprise reluctance and concerns about productivity gains and data compromises.
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Tesla is reportedly behind on its pledge to build 5,000 Optimus bots this year | TechCrunch
TechCrunch
ยท
1m ago
Medial
Tesla is significantly behind in achieving its target of producing 5,000 Optimus humanoid robots in 2025, having manufactured only a few hundred so far. This shortfall requires Tesla to either accelerate production or revise its timeline. The news coincides with a 12% drop in Teslaโs revenue due to reduced EV sales and other declines. Despite these setbacks, CEO Elon Musk remains ambitious, aiming for rapid production scaling to reach a million units annually within five years.
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Crypto kingpin behind Rs 200-crore fraud in Himachal Pradesh still at large
Economic Times
ยท
1y ago
Medial
Police are still searching for the mastermind behind a cryptocurrency fraud that has swindled people in Himachal Pradesh, India, out of over Rs 200 crore ($27 million) since 2018. The gang used deceptive tactics to lure investors by promising high returns in a short period of time. They created a network of investors and operated a Ponzi-style scheme, with initial investors bringing in more people. The fraudsters launched multiple coins, manipulated their prices, and built fake websites. Five people have been arrested so far, and investigations are ongoing.
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Mint Explainer | Why Big Tech is focusing on Indian languages
Livemint
ยท
19d ago
Medial
Big tech companies like Google, Meta, and OpenAI are expanding AI support for Indian languages due to the large market of 1.7 billion speakers. The native data in English-based AI models often causes biases, so increasing support for Indian languages can unlock significant growth potential. AI startups Anthropic and Perplexity are also focusing on Indian languages, highlighting the emerging battlefield in the regional-language internet market in India.
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The Mysterious Rise of China's Desert AI Hubs
YourStory
ยท
8d ago
Medial
China is developing significant AI infrastructure in the Xinjiang desert, aiming for AI dominance by 2030. Despite export bans on Nvidia chips crucial for AI, China is building 39 data centers, raising questions about access to these chips. Chinese AI startup DeepSeek is thriving, despite chip restrictions, indicating possible innovation or illegal access. China's strategic investments in AI aim to challenge U.S. supremacy, using these desert hubs to potentially reshape global power in AI technology.
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Why PE firms, strategic investors must prepare for regulatory changes in preschool sector
VCCircle
ยท
1y ago
Medial
Private equity firms and strategic investors eyeing the lucrative Indian preschool sector must prepare for upcoming regulatory changes. The Indian preschool market is expected to reach $10.2 billion by 2032, but so far, the sector has largely remained unregulated. However, with increasing awareness of the importance of preschool education and a rise in disposable incomes, the government is keen to regulate the sector. Changes may include requiring preschools to be sponsored by not-for-profit organizations, prohibiting franchising arrangements, and enforcing reservation requirements for economically weaker sections of students. Investors should take these potential regulatory changes into account when considering investments in the preschool sector.
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Microsoft to invest 4.3 billion euros in Italy for AI infrastructure and cloud capacity
Economic Times
ยท
11m ago
Medial
- Microsoft to invest 4.3 billion euros ($4.75 billion) in Italy for AI infrastructure and cloud capacity - The investment will be spread over the next two years - Microsoft's biggest investment in Italy so far - Aims to strengthen AI capabilities and cloud services in the country - Reflects Microsoft's commitment to Italy's technological growth and innovation
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Visa acquires Brazilian fintech startup Pismo in $1B blockbuster deal
TechCrunch
ยท
2y ago
Medial
Credit card giant Visa is acquiring Brazilian payments infrastructure startup Pismo for $1 billion in cash in what is likely one of the largest fintech M&A deals taking place this year so far.
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TikTok and its 'secret sauce' caught in US-China tussle
Economic Times
ยท
1y ago
Medial
As the US continues its campaign to force TikTok to sever ties with its Chinese parent company, Beijing has made it clear that it will not allow the forced sale of the app and its algorithm. Analysts suggest that China fears setting a precedent where a Chinese company is compelled to sell its most valuable assets. The algorithm, seen as the "secret sauce" behind TikTok's success, has been a focal point in discussions surrounding a potential sale. Beijing considers the threat of a forced sale to be akin to "daylight robbery" and vows to protect its interests.
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