BUSINESS
Global AI Conclave: India needs to build frugal LLMs, has to opt for ‘heterogeneous’ architecture, says Intel’s Santhosh Viswanathan
Viswanathan suggested that India will need to focus on a ‘heterogeneous’ architecture to develop LLMs frugally, which will involve a combination of CPUs, GPUs and LLMs and small language models (SLMs) depending on the use case required.
BUSINESS
IPO-bound CarDekho’s fintech arm Rupyy looks to disburse Rs 900-1,200 cr in used commercial vehicle financing in FY25
Started in April 2024, Rupyy’s used commercial vehicle lending business has already disbursed Rs 300 crore in loans. The fintech also plans to foray into SME and MSME loans in the next two-five years.
BUSINESS
Silicon Valley investor Tim Draper stuns his India team as Bengaluru traffic snarl looks ‘beautiful’
Draper scouts for innovative early stage startups in collaboration with TiE Mumbai across six Indian cities
BUSINESS
There’s no reason why Bitcoin won’t go up 30X from here, says legendary investor Tim Draper
Draper has invested in over 50 crypto companies till date, and led investments in Coinbase, Ledger, Tezos, and Bancor, among others.
BUSINESS
'Elon Musk is a gift from the gods, he’s extraordinary,' says legendary investor Tim Draper
Draper is an early backer of Musk’s Tesla and SpaceX. He believes that Musk is going to the perfect fit to lead the Trump Cabinet's Department of Government Efficiency.
BUSINESS
China will flatline, India to cross China pretty quickly: Legendary investor Tim Draper on Trump, Elon Musk, Bitcoin
"Elon Musk's extraordinary. I think the idea of a government efficiency expert is really great. I do think that there is a major opportunity the US has right now economically to really bring back freedom and trust into the country," Draper told Moneycontrol in an exclusive interview.
BUSINESS
Crisis at Bitbns? User funds stuck, deep discounted crypto prices, banking challenges
Users' investments, ranging from Rs 20,000 to Rs 1.5 crore, have been stuck with the exchange for months. While Bitbns is allowing deposits and trading on the platform, users have been unable to withdraw their funds. Bitbns CEO Gaurav Dahake said that arbitrary freezes on bank accounts by LEAs has impacted its ability to process user withdrawals.
BUSINESS
TCS cuts variable pay at senior levels for July-September quarter on tepid demand
According to sources, while some employees got only about 20-40 percent of their quarterly variable pay out, others even got zero percent despite adhering to the company's compulsory work from office policy.
BUSINESS
Hurun Philanthropy List: HCLTech's Shiv Nadar is India's most generous, Reliance Industries has the highest CSR spend
Shiv Nadar Foundation Institutions donated Rs 2,153 crore in FY24, which amounts to Rs 5.9 crore a day
BUSINESS
Under Trump 2.0, possible corporate tax cuts could boost IT demand
President-elect Trump’s idea of lowering corporate tax to 15% for specific companies could spur additional capital for investing in technology.
BUSINESS
Decentralised exchange, profit sharing, tokenisation – WazirX chalks out fund recovery strategy after $230-million hack
Nischal Shetty, founder and CEO of WazirX said he is expecting to restart the exchange platform by February 2025.
BUSINESS
US Elections: Bitcoin crosses $75,000 as Trump claims victory, Indian crypto exchanges see surge in trading volumes
Trump has been endorsing digital assets during his campaign run and even promised to make US the 'crypto capital of the planet'
BUSINESS
US Elections: Donald Trump’s win may lead to a crypto rally
“Some optimists even predict that his presidency might push Bitcoin toward six-figure valuations,” said Balaji Srihari, Business Head, CoinSwitch.
BUSINESS
Trump versus Harris: What does it mean for Indian IT companies?
There are plenty of shortcomings in the present H1-B visa rules including a lottery-based system and multiple applications for the same candidate, highlight experts.
BUSINESS
Cheaper AI compute will bring more work for TCS in building intelligence, digital twins, says Reguraman Ayyaswamy
TCS has recently launched a new business unit with Nvidia to develop AI solutions for customers globally. TCS will also likely purchase Nvidia’s latest Blackwell GPUs, said Ayyaswamy.
BUSINESS
CoinDCX launches decentralised custody access for users after $230-mn WazirX hack
Sumit Gupta, Co-Founder, CoinDCX told Moneycontrol, that the users would have full control of the private key of the decentralised wallet that will be encrypted using user's email id authentication.
BUSINESS
3 out of top 5 Indian IT firms report flat or shrinking operating margins in Q2
Analysts called this an impact of wage hike cycles differing and getting delayed for most of these companies in FY25 unlike the usual schedule of Q1
BUSINESS
WazirX releases Proof of Reserves post $230 mn hack, total assets plunge over 40%
WazirX had last reported its POR in June when the total holdings stood at Rs 4,203.88 crore, which has now fallen to Rs 2,506.79 crore post the hack.
TECHNOLOGY
Nvidia is reducing cost of AI by half every year, says CEO Jensen Huang
“From Ampere to Hopper, Hopper to Blackwell, we're introducing new technology every single year. And every year, we double or triple the performance, which is the same as reducing the cost in half or by a third,” Huang said.
BUSINESS
We are not dependent on discretionary spending: Sandeep Kalra, CEO, Persistent Systems
The mid-tier IT services company has won a standalone AI/Gen AI deal upwards of $40 million for its SASVA platform, apart from multiple Gen AI deals in the range of $5-10 million plus, according to Persistent Systems' CEO.
BUSINESS
IT companies bet big on India, Middle East for the next phase of growth
According to data from UnearthInsight, revenue share of emerging markets have gone up to 19.6% in FY24 up from 15.5% in FY14 and is expected to touch 22.2% in FY30. Most top IT companies reported double digit growth in revenue share from these markets.
BUSINESS
Persistent Systems Q2 earnings: Profit surges 23%, revenue up 20%
The order booking or deal wins for the quarter was at $529 million in Total Contract Value (TCV) and at $348.3 million in Annual Contract Value (ACV) terms
BUSINESS
Sharad Sanghi’s AI startup Neysa raises $30 mn in Series A from NTTVC, Z47, Nexus Venture Partners
Sanghi, co-founder and CEO, told Moneycontrol that the latest funding round came in response to the initial success and traction of its Neysa Velocis orchestration platform and deployment of its own cloud infrastructure that went live in July.
BUSINESS
Tech Mahindra’s Q2 deal wins plunge 5.7% YoY to $603 million
"We are still in the early stages of turnaround for business. We will see some volatility in the short term in BFSI and Telecom,” said Tech Mahindra CEO and MD Mohit Joshi. He added that there were client specific pressures in the US in Q2; expecting more clarity on telecom business after the US elections.
