Software Financial News

Subscribe to enjoy similar stories. It wasn’t long ago—say, two months— that European governments and companies thought nothing of relying on Microsoft software for daily tasks or Amazon.com’s Amazon Web Services for data storage. Not so much anymore.

Apple will host its Worldwide Developers Conference (WWDC) from June 9 to June 13. The keynote will be at Apple Park, followed by developer sessions throughout the remainder of the week. WWDC 2025 expectations At last year's conference, Apple introduced several AI-powered features, including new abilities such as rewriting emails and summarising a cluttered inbox.

Bill Gates, those fears might not be entirely unfounded. Gates has warned that AI will render many jobs obsolete in the coming years, automating roles across multiple industries. But amid the uncertainty, he has identified three professions that will likely survive the AI revolution—at least for now.

Vinay Hiremath, the co-founder of Loom, achieved a dreamy financial success. After selling his video messaging startup to Atlassian for nearly $1 billion in 2023, he walked away with an estimated $50 to $70 million. However, instead of continuing in the tech industry or chasing further financial gains, the 33-year-old is now taking an unconventional path—searching for internships. On a podcast with Sam Parr, he talks about looking for internship opportunities after he turned down a $60 million retention bonus. Despite having the opportunity to earn even more, Hiremath made a surprising decision. He turned down a $60 million retention bonus that would have vested over four years. Now, without a steady income, he is focusing on personal growth and new challenges. Sam shared that Hiremath's current interests lie beyond software and investing. He spends five to eight hours daily studying physics and engages in online discussions with young enthusiasts, blending into communities where many are unaware of his entrepreneurial success. His financial strategy post-exit is also unusual for a tech founder, with half of his net worth in cash, 30% in equities, and 20% in bonds and other assets. Despite his wealth, his most expensive purchase since the sale has been an iPad. He is currently studying physics 5-8 hours daily, hanging in Discord groups with 18-year-olds.

Subscribe to enjoy similar stories. Accenture Plc is outpacing India's top IT firms in securing lucrative, large-scale contracts, fuelled by its robust consulting businesses and early adoption of generative AI solutions. The global consulting and technology giant has widened its significant lead in deals exceeding $100 million, a stark contrast to the challenges faced by India's homegrown IT services industry.

Subscribe to enjoy similar stories. Are you inundated with spam calls? Soon, you will be able to see the caller's name flash on your phone screen without installing a third-party app like Truecaller. India’s private telecom operators Vodafone Idea Ltd, Bharti Airtel Ltd, and Reliance Jio Infocomm Ltd have tapped vendors such as HP, Dell, Ericsson, and Nokia for servers and software needed to make this feature possible, according to three senior executives familiar with the matter.

Novo Nordisk A/S agreed to pay United Laboratories International Holdings as much as $2 billion for a next-generation obesity drug, the Danish Ozempic maker's latest move to refill its pipeline of experimental treatments. Novo will pay Hong Kong-based United Laboratories $200 million upfront for the drug, which combines three different mechanisms in an effort to treat obesity as well as diabetes and other diseases, the companies said Monday. Novo agreed to pay as much as $1.8 billion if the drug reaches certain development and sales goals. The deal comes amid growing skepticism from investors that Novo's next-generation portfolio will be sufficient to keep it on top of the hypercompetitive market for weight loss treatments. German software developer SAP SE unseated Novo as Europe's most valuable public company on Monday. Novo's shares traded down as much as 3.1% in Copenhagen. United Laboratories will retain rights in China for its compound, which works in a similar way to Novo rival Eli Lilly & Co.'s retatrutide — considered the strongest among the next-generation drugs currently in late-stage human trials.

The Bot Company, a robotics startup founded by Kyle Vogt, the former cofounder and CEO of autonomous vehicle company Cruise, has raised $150 million in funding. The round, which valued the startup at $2 billion, was led by global investment firm Greenoaks, Reuters reported, citing anonymous sources. Vogt co-founded the company with Paril Jain, who previously led the AI tech team at Tesla, and Luke Holoubek, a former software engineer at Cruise.

Subscribe to enjoy similar stories. Tiny, niche back offices for high-tech, specialised work are being set up by new-age companies in India at an increasing pace, a trend that experts believe has the potential to take the global capability centre (GCC) wave to the next level in the country. According to industry insiders, companies such as M31, d-Matrix, and MemryX, among several others, are increasingly setting up focused ‘nano’ GCCs in India.

cloud services and data center firm, plans to file its draft red herring prospectus (DRHP) this week with the Securities and Exchange Board of India (SEBI) to raise upto Rs 700 crore through an initial public offering (IPO). The offering is expected to be a fresh issue, according to sources. The company had initially filed for an IPO in December 2021 but withdrew due to unfavorable market conditions. Ahead of the fresh filing, ESDS has appointed merchant bankers, with DAM Capital as the book-running lead manager.

startups have raised Rs 286 crore in funding from investors, a top official of the organisation said. While speaking at an event, Software Technology Parks of India (STPI) director General Arvind Kumar said the organisation, formed under the Next Generation Incubation Scheme (NGIS) of the Ministry of Electronics and IT, has given early-stage seed capital of Rs 30.87 crore to 136 startups and financially incentivised 359 others through a stipend amount of Rs 3.57 crore. «Amongst these supported startups, 134 have also been able to raise external funding from an investor community comprising angels and venture capitalists of about Rs 286 crore, which is not only a validation of their business but also the testament of the progress made by these startups,» Kumar said during the STPI Sangam event on Friday. «I am proud to share that 44 per cent of STPI's startup portfolio consists of women entrepreneurs, many of whom come from Tier-2 and Tier-3 cities. We are not just honouring startup success stories today; we are also reflecting on how we can improve, refine our policies, expand our outreach, and ensure that our startup ecosystem reaches its full potential,» Kumar said.

OpenAI CEO Sam Altman, in an interview with Ben Thompson of Stratechery, stated that, after a certain point, there would be less need for software engineers when asked whether the company should continue hiring them. He said, “I mean, my basic assumption is that each software engineer will just do much, much more for a while. And then at some point, yeah, maybe we do need less software engineers.” The conversation also touched on the impact of artificial intelligence (AI) on jobs and the speed of job displacement. When asked for his perspective on the issue, Altman expressed the view that the changes would not be sudden but would accelerate gradually over time.

Subscribe to enjoy similar stories. Shardul Shah got the call he had been waiting for on his 37th birthday in January 2020. A promising Israeli cybersecurity founder that he had been asking for years to launch a company was in need of funding.

Subscribe to enjoy similar stories. Dublin, Ireland-headquartered Accenture Plc became the first IT industry major to call out macroeconomic uncertainty in the US, the world’s top technology market, during a post-earnings interaction with analysts on Thursday. The early alert, coming in the backdrop of disappointing quarterly earnings in the second quarter (December-February) of the world’s biggest information technology (IT) services company, signals possible tough times ahead for both global as well as the Indian IT industry.

Delhi Police Wednesday arrested two men for allegedly robbing about Rs 80 lakh from a trader at gun point in Chandni Chowk two days ago. The case has been solved within 24 hours with the help of Israeli face recognition software, TOI reported. The suspects, identified as Mohammad Ali (21) and Samir (19), were arrested from Daryaganj. The entire stolen amount has been recovered from them, the police said. The two had knowledge of the movement of of angadias (hawala couriers) in the area and planned to target a large cash transfer, a senior police officer said. «On Monday, around 7.40pm, a trader, Ajamal, was returning home after collecting about Rs 80 lakh in cash. Near his residence in Haider Quli, a man stopped him at gunpoint, tried to snatch his bag and fired a shot at the ground when the victim resisted. The assailant then fled with the bag containing the cash. An FIR was registered at Lahori Gate police station and an investigation was launched,» the officer told TOI. Footage was analysed from about 500 CCTV cameras across Chandni Chowk, Red Fort, Jama Masjid, Daryaganj and Lahori Gate to trace the route used by the robbers to escape. The police observed that they kept changing directions after the robbery.

Subscribe to enjoy similar stories. Nvidia announced its plans to construct a quantum computing research center on Tuesday, with the chip maker pledging to solve some of the field’s “most challenging problems" by coupling quantum hardware with supercomputers. The Nvidia Accelerated Quantum Research Center, or NVAQC, will pave the way for “accelerated quantum supercomputing," the company said.

Subscribe to enjoy similar stories. A laser-sharp focus on the US market in a world being reshaped by artificial intelligence has cast shadows over three Indian tech services companies catering to healthcare and life sciences companies. Lack of diversified businesses, policy uncertainty in the Donald Trump era, and the challenges of GenAI pose major risks for Sagility Ltd, Indegene Ltd, and Inventurus Knowledge Solutions Ltd, all of which listed on the stock exchanges in the past year, analysts said.

Microsoft Corp., the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc., which has an executive on the artificial intelligence startup’s board, are joining forces with one of its chief rivals. Abu Dhabi’s MGX, Microsoft and BlackRock said Elon Musk’s xAI is joining their effort to build $30 billion worth of data centers and other artificial intelligence infrastructure. The AI chipmaker Nvidia Corp., which was already named as a technical adviser to the group when it was announced last year, is also formally joining, according to a statement on Wednesday that didn’t detail member commitments.

Amazon's self-driving unit Zoox agreed to recall 258 vehicles due to issues with its automated driving system that could cause unexpected hard braking, after a US investigation, according to a company filing Wednesday. The recall affects vehicles equipped with self-driving software versions released before November 5. The California-based company said it has addressed the issue by updating the software on the company-owned vehicles. In May, the National Highway Traffic Safety Administration opened a probe into self-driving Zoox vehicles due to unexpected braking leading to two rear-end collisions that injured motorcyclists.

Subscribe to enjoy similar stories. Las Vegas, USA: Adobe Inc has become the latest company to join the bandwagon to offer artificial intelligence services with its agentic AI platform as the technology firm diversifies beyond its core offering.