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UrbanMatrix Technologies on Thursday said it has raised Rs 6 crore from investors to fund expansion. «The funds will be allocated towards product development, team expansion and expanding into new markets,» the company said in a statement. The company said it has raised Rs 6 crore in a Pre-series A funding round led by Inflection Point Ventures.

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China has stepped up spending to replace Western-made technology with domestic alternatives as Washington tightens curbs on high-tech exports to its rival, according to government tenders, research documents and four people familiar with the matter. Reuters is reporting for the first time details of tenders from the government, military and state-linked entities, which show an acceleration in domestic substitution since last year.

Tech Mahindra's disappointing earnings, the Nifty IT index plummeted more than 1% on Thursday's trade amid an overall gloomy market environment. Among the top laggards of the Nifty IT index were shares of Persistent Systems Ltd (down 3.07%), Tech Mahindra Ltd (down 2.91%), and Coforge Ltd (down 1.95%). Analysts witnessed selling pressure to continue in the IT Index following the release of lower-than-expected earnings from major IT companies, along with lower guidance indicating less spending for the upcoming year.

BEIJING — Chinese electric car company Xpeng said this week it plans to roll out driver-assist technology in Europe by the end of next year, and remains on track with plans to expand the tech to 50 cities in China by year-end.

Hyundai says it will set up “mobile clinics” at five U.S. locations to provide anti-theft software upgrades for vehicles now regularly targeted by thieves using a technique popularized on TikTok and other social platforms

you will receive this latest update. Let's talk about the biggest updates in iOS 17.1 for iPhones. First, iPhone 12 radio frequency issue has been resolved by Apple.

BEIJING (Reuters) — China has stepped up spending to replace Western-made technology with domestic alternatives as Washington tightens curbs on high-tech exports to its rival, according to government tenders, research documents and four people familiar with the matter.

(Corrects paragraphs 1 and 2 after the Nuevo Leon Economy Ministry said an Oct. 18 statement had incorrectly named Hesai Technology (O:HSAI) as the second company instead of Shenzhen. Removes references to Hesai Technology in paragraphs 6 and 7.)

Investing.com — International Business Machines (NYSE:IBM) shares were rising after beating expectations on profit for the third quarter and reaffirming its outlook.

By Chavi Mehta

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content

Narayana Murthy had established Infosys in 1981 with six other engineers with the idea that the firm is an “experiment in entrepreneurship" – a company of the professionals, for the professionals and by the professionals. Infosys was founded in Pune and is headquartered in Bangalore.

Photoshop owner Adobe Inc's $20 billion buyout of cloud-based designer platform Figma, to February 2024. In July, the Competition and Markets Authority (CMA) launched an in-depth, or phase two, investigation into the deal after Adobe said it would not offer any concessions to ease the regulator's concerns.

The third quarter earnings season on Wall Street gathers momentum this week, with some of the biggest names in the world set to report their latest financial results.

Tech Mahindra’s net profit for the fiscal second quarter plunged 61.5% on year, missing estimates, due to what it said were unanticipated pressure on capital expenditure and a lack of recovery in the communications domain, the software company’s largest revenue driver. Quarterly net profit stood at Rs 494 crore, with the sharp fall coming at a time when all leading industry peers have given a bleak FY24 guidance due to a delay in decision-making and cuts in discretionary spend.

Big tech’s two early movers on artificial intelligence both still have a way to go before the much-hyped technology starts generating significant business. But if their latest quarterly results are any indication, it may be Microsoft’s game to lose. Microsoft and Google-parent Alphabet both saw improvements to their core businesses during the September quarter according to results posted by both companies late Tuesday.

By Aditya Soni

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