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flash floods, tech parks in Bengaluru are now gearing up to face a severe water shortage crisis, months before peak summer. With work-from-office enforced by most corporations, demand for water in these areas is higher than last year, at a time when weak southwest monsoon has created a drought situation across most of Karnataka. The $245 billion IT industry has seen top companies including TCS, Infosys and Wipro calling people to “return-to-office” for a minimum of around 3-5 days a week. Bangalore Apartments' Federation General Secretary Vishnu Gattupalli told ET that tanker water supply is not enough to meet the needs of the employees who have returned from their hometowns, tech offices, and residents in the ‘Silicon Valley’s’ tech belt. Residents of areas like Whitefield, Mahadevpura and RR Nagar – home to companies like Infosys, Wipro, IBM, Tech Mahindra – have been advised to ration the water they have and use it judiciously, he added. While the median tanker rate is Rs 131 per 1000 litres, the price climbs up along the city’s tech belt, with areas like Horamavu paying Rs 207 per 1000 litres and RR Nagar residents paying Rs 238 per 1000 litres, according to a survey by the Federation.

discussion with Mint, co-founder and CEO Aravind Srinivas claimed it had $5-10 million in revenues. The paid Pro plan offers features such as Copilot, an interactive research assistant; unlimited file uploads; access to the latest AI models like GPT-4 and Claude 2.1; and an API (application programming interface) for developers to build upon Perplexity's foundation. Despite its small size and modest revenue when compared to giants like Google or OpenAI, Perplexity's agility allows it to explore what is currently a niche market.

Berkshire Hathaway on Wednesday said it has trimmed its huge stake in Apple and shed four common stock holdings, and kept investors guessing on what could be a major new investment by Warren Buffett. In a regulatory filing describing its U.S.-listed stock holdings at the end of 2023, Berkshire said it sold 10 million Apple shares in the fourth quarter, but still owned more than 905 million shares worth about $174 billion.

snowstorm hit the Northeast on Tuesday canceling and delaying flights, making roads slippery and prompting many school districts to cancel classes or switch to remote learning —- or at least try to switch. In New York City, the online learning system that serves the nation’s largest school district experienced technical problems first thing in the morning, preventing many of the 915,000 students from logging in. More than 1,000 flights were canceled Tuesday morning, mostly at the airports in the New York City area and in Boston.

Investing.com — Here is your Pro Recap of the earnings reports you may have missed this week: Netflix, Tesla, IBM , and Humana.

shares jumped nearly 13% to a more than 10-year high on Thursday after the company reported a better-than-expected revenue outlook backed by strong demand for its artificial intelligence (AI) services. Orders from IBM's generative AI business, which includes bookings and sales from services such as those powered by its Watsonx AI platform, doubled in the fourth quarter and are expected to help its revenue grow by around 4%-6% in 2024, the company reported late on Wednesday. Consulting firms and software companies, including Germany's SAP SE, account for much of IBM's AI-related bookings, IBM Chief Financial Officer James Kavanaugh told Reuters. IBM shares rose to a peak of $196.89, their highest since June 2013, adding about $20 billion to the company's market capitalization.

on Thursday: Tesla Inc. (TSLA), down $27.77 to $180.06. The electric vehicle maker reported disappointing fourth-quarter earnings and warned of “notably lower" sales growth this year.

Shares of IBM (NYSE:IBM) jumped over 11% Thursday after the enterprise software maker reported better-than-expected earnings per share (EPS) and revenue for Q4.

IBM rose 12% to a more than 10-year high on Thursday after the company reported a better-than-expected outlook on its revenue backed by strong demand for its artificial intelligence (AI) services. Orders from IBM's generative AI business, which includes bookings and sales from services such as those powered by its Watsonx AI platform, doubled in the fourth quarter and is expected to help its revenue grow by around 4%-6% in 2024, the company reported late on Wednesday. IBM shares rose as high as $194.93, the highest level since June 2013, adding about $19 billion to the company's market capitalization. The stock is now up about 18% year-to-date.

Investing.com — U.S. futures traded in a muted fashion Thursday as investors digested a deluge of quarterly corporate earnings ahead of the release of key economic growth data.

After-Hours Stock Movers:

By Arsheeya Bajwa

According to analysts at Citigroup on Monday, Microsoft (NASDAQ:MSFT) is still the top vendor that CIOs are considering as a generative artificial intelligence (AI) partner, «far ahead» of Alphabet (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN).

Apple Macintosh, the first PC with a user-friendly mouse and graphical interface that helped the machines enter the everyday lives of people for the first time. Jobs, playing the showman inventor to perfection in a black suit and silver bow tie, opened a zipper bag in an auditorium in Cupertino, California, on January 24, 1984, and lifted out a lightweight computer that not only operated at the click of a button but also, thrillingly, talked.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Futu, Apple, and IBM; downgrades for Boeing.

Here are the biggest analyst moves in the area of artificial intelligence (AI) for this week.

World Economic Forum meet. In all, about 60 heads of state and 800 CEOs were in attendance among a total of 2,800 participants, as they discussed wide-ranging issues — from climate change to economic slowdowns — at both formal and informal gatherings.

IBM has announced the release of latest technology designed to enhance the security of cold storage for digital assets, aiming to revolutionize the way cryptos are managed and protected.

Microsoft (MSFT) stocks hit an all-time high of $378.81 on Nov. 20 on the back of a tumultuous weekend for the AI sector involving the ousting of OpenAI CEO and co-founder Sam Altman. Not to be outdone, Nvidia (NVDA) stocks also reached an all-time high of $499.60, continuing a trend that’s seen its shares rise from a one-year low of $138.84.

IBM announced the launch of a $500 million Enterprise AI Venture Fund on Nov. 7 that, according to the company, will be focused on “accelerating generative AI technology and research for the enterprise.”

Samir Arora, Founder and Dinshaw Irani, CIO, Helios Capital in conversation with Nikunj Dalmia of ET Now. Arora says: “The difference between us and others is that while nobody will say that they buy bad factors like bad management or bad history or bad themes, they do trade off. That means they will accept high valuation by saying it has good management or they will accept poor quality management by saying it is very cheap and discounted. We have understood that there is no need to make these trade-offs. That is how the consistency has come. In fact, we are betting on it. If you see our tagline, it is for every term.” What is elimination investing? Do fund managers need to take higher risk to beat the index? Samir Arora: For any active fund manager, the attempt is always to do better than the index. But to do that, you have to basically sort the universe into stocks which are good or bad and eliminate the bad, which is why we call it elimination investing. Whether it pays off or not is something that you cannot promise because you yourself do not know. But historically, that has worked.