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Top News of the day: 1. The Andhra Pradesh government, in collaboration with the Wadhwani Centre for Government Digital Transformation, is training Artificial Intelligence Champions from 20 state departments. 2. India’s startup ecosystem faced a sharp correction as over 28,000 startups shut down in two years. This is a 12x surge from earlier trends. 3. From a ₹50,000 investment in her living room, Madhusmita Choudhury built PiEST Systems into a global leader in embedded systems training 4. Fintech startup Bachatt has raised over ₹34 crore in a seed funding round co-led by Lightspeed and Info Edge Ventures. 5. Vacation home rentals platform ELIVAAS is in the process of raising $10-12 million. 6. ICICI Venture, a mid-market private equity firm, has entered the healthcare sector by acquiring a minority stake in a prosthetics manufacturer. 7. Stellantis plans to introduce Leapmotor's electric vehicle (EV) lineup in India, aligning with its strategy to expand its EV footprint and focus on sustainability. 8. Alphabet, Google's parent company, announced a $70 billion share buyback as it reported higher-than-expected first-quarter profits, boosting shares by 4%. 9. The Sino-US trade tensions are leading to increased demand for Intel's older generation chips as customers seek cheaper alternatives amid economic uncertainty. 10. phab, a nutritionist-led snacking brand, has raised $2 million in a seed funding round led by OTP Ventures along with participation from Capri Global, Sim&San law firm, and other angel investors. 11. UAE-based Resolv Labs, focusing on crypto stability, led a funding round with $10 million to expand its platform. 12. Bootstrapped consumer electronics brand Boult Audio recorded a 40% surge in operating revenue for the fiscal year ending March 2024. However, the notable top-line came at a cost, as the Delhi-based company’s profit declined by 37%. 13. Apple plans to move the assembly of all iPhones sold in the US to India by next year, according to the Financial Times 14. PB Fintech, the parent of Policybazaar and Paisabazaar, invested Rs 539.4 crore in its health subsidiary, PB Healthcare Services, as part of a Rs 1,461.6 crore seed funding round. 15. Nextiva, a customer experience management platform, has launched an innovation center in Bengaluru, making it its second-largest facility outside the U.S. 16. Peak XV Partners, formerly part of Sequoia Capital, aims to raise a $1.2-1.4 billion independent fund to invest in early-stage ventures in India and Southeast Asia 17. Meta has reportedly laid off employees in its Reality Labs division, impacting Oculus Studios and hardware development teams, including the Supernatural VR fitness game project. 18. Tencent Music Entertainment Group is in advanced discussions to acquire Chinese podcasting startup Ximalaya Inc. for $2.4 billion. 19. Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over. Stay Updated. Stay Informed. Stay Ahead. Share the Medial App with your network, colleagues, and friends. Let's brainstorm, discuss together and help each other achieve our goals. And don't forget to rate us on the iOS App Store and Google Play Store to help us reach even more amazing people like you.