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Artificial intelligence chipmaker Graphcore said it needed to raise cash due to widening losses, according to a filing, as Nvidia's dominance in AI chips has chilled funding for startups looking to compete directly. Graphcore produces AI chips called intelligence processor units (IPUs) that aim to take on Nvidia. It reported pre-tax losses widened 11% to $204.6 million, according to a filing of its 2022 financial statements filed Wednesday. Revenue declined 46% to $2.7 million.

Florida-based Carrier, a global heating, ventilation and air conditioning giant, is looking to ramp up investments in India, chairman and chief executive David Gitlin tells ET's Mohit Bhalla in an interview. Edited excerpts: What do you make about the general business environment in India? We've been very positive about the business environment for decades. We established a presence here in 1987.

Tesla engineer in court on Wednesday rejected a lawyer's suggestion that the company named its driver-assistant feature «Full Self-Driving» because it wanted people to believe that its systems had more abilities than was really the case. The electric vehicle maker is defending itself at the first US trial over allegations that Tesla's Autopilot feature led to a death. The lawsuit, filed in a California state court, alleges the Autopilot system caused owner Micah Lee's Model 3 to suddenly veer off a highway east of Los Angeles at 65 miles per hour (105 kph), strike a palm tree and burst into flames, all in the span of seconds.

Bajaj Finance, India’s biggest non-banking finance company (NBFC) by market capitalisation, plans to raise as much as Rs 10,000 crore in a restricted share sale as it shores up its capital position amid the entry of Reliance Industries’ Jio Financial into retail lending. The exercise would involve equity divestment in favour of institutional investors and the holding company, Bajaj Finserv. This is the company’s first equity capital raise since November 2019 and comes even as it is sitting on a comfortable capital adequacy of 23% — more than double the 10% mandated by the Reserve Bank of India for NBFCs classified in the upper layer and considered important for India’s financial system. Bajaj Finance will issue Rs 8,800 crore worth of shares to institutional investors through a qualified institutional placement (QIP) and will also allocate shares worth Rs 1,200 crore to promoter company Bajaj Finserv. The fundraising will have to be approved by the company’s shareholders in a proposed extraordinary general meeting.

algorithms have the remarkable ability to curate content that keeps you hooked on the platform. Not only do algorithms decide the content shown on social media feeds, they influence consumer choice by controlling suggestions on ecommerce websites, and are even used by governments to process data for the provision of citizen benefits.

NEW DELHI : India’s ₹6,000-crore quantum mission, announced in April this year, will be put in motion “very soon", with the Department of Science and Technology (DST) putting “an appropriate structure for it in place", said Ajay Kumar Sood, principal scientific advisor (PSA) to the Centre. He also said his office is also involved in “making the framework of the mission, and running it." Sood was speaking at industry body Assocham’s Quantum Technology Conclave. The mission, and all the development work around it, will be “crucial in geopolitical strategies," Sood said.

Mumbai: Indian payments service provider Mobikwik expects to report full year profits at the end of FY24, as it becomes IPO (initial public offering) ready, co-founder and chief operating officer Upasana Taku said in an interview on Thursday. Mobikwik (operated by One Mobikwik Systems Pvt Ltd) reported its half-year revenues at ₹385 crore for H1 FY24 and ₹8 crore of profit after tax on Thursday. “We have grown 58% in revenues over what we did last year at this time.

Cytiva on Thursday opened a new manufacturing facility and Experience Centre in Pune. The new facility will double Cytiva's manufacturing capacity in India and provide critical training programmes to accelerate the development of novel therapeutics.

AI)-based messaging and user engagement platform Aampe on Thursday said it has raised $7.5 million as part of fresh funding led by Matrix Partners India and Peak XV Partners (formerly Sequoia Capital India). The company said it will use the funds for product development and growth as it sets sight on global expansion.

Companies hiring for CIO and CTO positions want boots on the ground at the corporate headquarters, eliminating some potential candidates and a slowing of the overall rate of tech executive hiring. For business technology executives, relocation can be the single biggest impediment to changing jobs, said Eric Sigurdson, who leads the Chief Information Officers Practice at search firm Russell Reynolds Associates. For a time, that impediment disappeared, although now it is back, he said.

Click here! An individual will be eligible to obtain a remote pilot certificate if he is not less than eighteen years of age and not more than sixty-five years of age. He should have passed the class tenth examination or its equivalent from a recognized board, and has successfully completed training as specified by the DGCA from any authorized remote pilot training organization.

Softbank CEO Masayoshi Son on Wednesday said he believes artificial intelligence (AI) will surpass human intelligence within a decade, urging Japanese companies to adopt it or be left behind. Son, speaking at a corporate conference in Tokyo, said «artificial general intelligence will surpass the total intelligence of humankind by 10 times in 10 years.»

True North has agreed to invest $75 million for a minority stake in US-based digital transformation solutions provider iLink Digital. The investment, made by True North’s $600-million (around Rs 4,200 crore) Fund VI, is aimed at expanding iLink Digital’s organic and inorganic growth in the IT services space.

Bizongo, while announcing a funding of $50 million in an all-staff call, fired about 50 employees, amounting to about 15% of the total workforce, sources in the know told ET. The Mumbai-based startup’s cofounder and chief executive Sachin Agrawal informed employees of the decision in a town hall at 10 am on Wednesday when ET reported on the funding round from existing investors led by Schroder Adveq, a Zurich-based private equity firm.

startup Groww reported a massive rise in total revenue to Rs 1,294 crore for financial year 2023, up 252% from Rs 367.4 crore in the previous year. However, along with revenues, its expenses shot up too. In the last financial year, Groww reported total expenses of Rs 1,197 crore, up 235% from Rs 357 crore a year earlier. This resulted in its profit rising to Rs 73 crore from a meagre Rs 6.8 crore a year earlier.

Gartner Digital Markets recently organised the Insights Summit. The Summit was an invite-only event featuring 50 India-based SaaS leaders in the Millenium City of Gurugram, Haryana.

Introduction Bitcoin, the world's first decentralized digital currency, has revolutionized the way we think about money and transactions. However, as Bitcoin gained popularity, it faced challenges related to scalability and transaction speed. In response to this, the Bitcoin S-Chain project was launched on the POA blockchain.

Sectorally, buying was seen in capital goods, IT, consumer durables, auto, and bank stocks while power, utilities, healthcare, and telecom stocks witnessed selling pressure. Stocks that were in focus on Thursday include names like Kaynes Technology (up more than 4%), Syrma SGS (rose more than 6%), and Cromandel International (that closed with gains of nearly 2%). Kaynes Technology and Syrma SGS rose over 40% in the last 3 months while Coromandel International also recorded gains of more than 20% in the same time period. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to a analyst Vivek Mashrani on how one should look at these stocks the next trading day entirely from an educational point of view. Here’s what the CFA and Director at Technofunda Ventures Private Limited had to say: Kaynes Technology Kaynes Technology has been forming continuous higher highs with excellent uptrend.

Advisors seeking access to digital assets via a regulated platform offering crypto SMAs now have a new option.

Tata Consultancy Services said on Thursday it has won a deal from the Georgia Department of Labor (GDOL) to replace its 1980s-era legacy platform with a scalable cloud-based unemployment insurance system that streamlines the claims process. Deal financials were not disclosed. The system will ensure that eligible individuals receive prompt financial assistance and support. During the pandemic, Georgia experienced an unprecedented surge in unemployment claims – the third highest in the nation – placing tremendous strain on the state's aging 40-year-old unemployment system and underscoring the urgent need for change.

Referring to the company's logistics center at the cargo airport in the city of Liege, the security service said it was working to detect «possible espionage or interference activities» by Chinese entities including Alibaba, the newspaper said.