One quick thing: CAIT accuses quick commerce platforms of regulatory violations

• Quick commerce to take away $1.28 billion in sales from Kirana stores this year

In today’s newsletter:

• Orange becomes the new black as Swiggy lists
• MeitY outlines data law compliance steps  
• Nvidia CEO regrets SoftBank miss

Event alert: CNBC TV18 & Moneycontrol will be hosting the most definitive summit on Artificial Intelligence with top global and Indian voices on November 22nd in Bengaluru. Click here to register and get access to CNBC-TV18 & Moneycontrol Global AI Conclave'.

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Swiggy has officially taken its rivalry with Zomato to the Street. A battle that started around a decade ago, is only going to get more intense.

Swiggy’s supporters had much to celebrate on November 13. While some got handsome payouts, the others rejoiced at a successful public market debut. 

• Swiggy’s shares listed on the NSE at Rs 420 apiece, a premium of 8% over its issue price of Rs 390
  
  
• At the end of the day’s trade, the shares ended at Rs 464, up 10% – thanks to sustained momentum 

Have FOMO and wonder what the scene at the NSE floor was like? We got you covered.

With shares off to a decent start, a bunch of stakeholders stand to benefit. 

• 5,000 employees will get a total of Rs 9,000 crore in ESOP payouts
  
  
• Of those, 500 staffers stand to pocket Rs 1 crore each
  
  
• Of which 70 employees will get at least Rs 8.5 crore each. Ask your Swiggy friends, who are now dollar millionaires, for a feast! 

It’s not just employees. There are windfall gains for its early believers, too. 

• Accel earned a whopping 26X return on its $19.85 million investment
  

Prosus made over $500 million by investing $1.3 billion. It still has a stake of over 24%, so there’s more upside.  

With brokerages predicting at least a 20% upside, the future seems promising for Swiggy. 

As the battle between Swiggy and Zomato intensifies, it will be worth watching how long the Jay-Veeru image lasts.

Catch all the action

Picture credit: Microsoft Copilot

Has data privacy regulation got you scratching your head? The IT ministry says don’t worry — it’s all quite straightforward.

• With the DPDP Act aligning with global norms, compliance might be as simple as setting up a few automated checks, says the ministry

The Ministry of Electronics and Information Technology (MeitY) states that the Digital Personal Data Protection (DPDP) Act and its upcoming rules are aligned with global norms, facilitating easy adherence through automation.

• UIDAI CEO Amit Agrawal emphasised this during his presentation at the 27th National Conference on e-Governance in September

The presentation said that organisations must identify, verify all personal data they hold, and delete any unnecessary data collected without consent.

• MeitY, in the presentation, emphasised on minimising internal data access rights, encrypting data and so on

The DPDP Act, passed nearly a year ago, aims to prevent personal data breaches but awaits implementation due to the need for additional rules and clauses.

• The rules for public consultation are pending final rounds of approvals, with no set timeline announced yet

• The government is actively building capacities within its departments and ministries to comply with the new data protection law

Find out more

Picture credit: Meta.ai

Have you ever missed the bus on a potential stock that later became a multi-bagger? Well, you have company.

Nvidia's CEO, Jensen Huang, admitted a major regret: turning down SoftBank CEO Masayoshi Son’s offer to help fund a full acquisition of the chipmaker nearly a decade ago.

“Now I regret it,” Huang said at the Japan AI Summit.

Back then, SoftBank was Nvidia's largest shareholder, holding a 5% stake.

The chemistry between the two global business figures on stage, whose net worth exceeds $150 billion, was palpable as they laughed off the reason for missing the multi-billion-dollar opportunity.

"The market doesn't understand the value of Nvidia," Son told Jensen, adding, "Your future is incredible, but the market doesn’t get it."

The 5% stake in the chip company that SoftBank held a decade ago is now fuelling today's AI boom, valued at a staggering $160 billion (exceeding Huang's personal fortune of approximately $130 billion).

• However, Son sold the entire stake, then worth less than $4 billion, five years ago when a steep decline threatened his fund's performance

In retrospect, it’s hard not to wonder: what if Son had held onto those shares?

Despite the missed opportunity, Nvidia and SoftBank continue to work together.

• Nvidia and SoftBank will build an AI infrastructure for Japan, a first for any country
  
  
• SoftBank will also be the first to receive Nvidia’s Blackwell, which will work as building block for its supercomputer
  
  
• The chipmaker and SoftBank’s telecommunications arm have also piloted the world's first AI and 5G telecoms network

Find out more

• AI-powered search engine Perplexity will begin experimenting with ads, formatted as "sponsored follow-up questions" and labeled as "sponsored," in the US starting this week.
  
  
• Midcap IT firm EPAM said each of its generative artificial intelligence projects with dozens of clients are making millions in revenue.

Tired of wading through a sea of misinformation? 

Dive into the world of Science Vs, a podcast that cuts through the noise and delivers science-backed truths. 

• From debunking viral myths to exploring the latest scientific breakthroughs

Check it out on Spotify or Apple Podcasts

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