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The Economic Times

Princeton Digital Group to pump in $1 billion as part of India expansion for AI-ready data centres

“India is well positioned to be a global AI leader, and we are determined to play an important role in making that happen. As one of the fastest growing data centre operators, our $1 billion investment in India is testament to our deep commitment to the country’s AI and cloud ecosystems,” Rangu Salgame, chairman, CEO and cofounder, PDG said in a statement.

The Economic Times

Update makes X available again to many in Brazil

Social-media platform X became accessible to many users in Brazil after an update circumvented a Supreme Court block order. The update used third-party cloud services, allowing access without a VPN. The number of users accessing X is unknown. Anatel is working to notify providers to block access again.

The Economic Times

Google says it will rethink its plans for a big data center in Chile over water worries

The U.S. technology company first obtained permits in 2020 to construct the vast project in Chile's capital, Santiago, as demand for the server farms skyrocketed across the globe, fueled by a surge in cloud-based technologies and a craze for generative AI.

The Economic Times

E2E Networks is the talk of the town as AI frenzy takes hold

E2E Networks, an AI cloud service provider, is getting unprecedented attention. Notably, E2E Networks was the first to introduce cloud-based graphics processing units (GPUs) in India in 2018, a bold move that gave it a head start in the market.

The Economic Times

Cybersecurity company Tenable appoints Rajnish Gupta as MD for India, SAARC

The appointment aligns with the Columbia, Maryland-headquartered firm's expansion of its cloud capabilities and exposure management platform, enabling organisations to know, expose and close their cyber exposure gaps.

Mint

Oracle sees $104 billion sales in fiscal 2029 on cloud expansion

Oracle Corp. said annual revenue will rise to at least $104 billion in fiscal 2029, an optimistic signal on the growth prospects of the software maker’s cloud infrastructure business.

Mint

Microsoft announces former GE CFO Carolina Dybeck Happe as new COO

The appointment comes at a time when Microsoft is aggressively pursuing the lead in the cloud services market, doubling down on AI investments to bolster its cloud business and close the gap with Amazon's Amazon Web Services.

The Economic Times

Amazon's AWS to invest $1.8 billion in Brazil through 2034

Amazon's cloud computing arm, Amazon Web Services (AWS), will invest 10.1 billion reais ($1.8 billion) in Brazil through 2034 to expand its data center operations in the country, it said on Wednesday.

The Economic Times

MG Motor India launches all-electric Windsor EV priced at Rs 9.9 lakh

MG Motor India has unveiled its first Crossover Utility Vehicle, the all-electric Windsor EV. Based on the Wuling Cloud EV from China, this model expands MG's electric vehicle lineup in India. The Windsor EV features advanced technology and luxurious design elements, aiming to cater to consumers seeking a blend of efficiency and luxury.

The Economic Times

Amagi expands global footprint with Mexico entry

Amagi, a Bangalore-based unicorn specializing in cloud-based SaaS technology for broadcast and connected TV, has expanded into the Mexican market. With Miriam Rios leading sales efforts, Amagi aims to leverage its expertise to provide broadcasters and content owners with competitive advantages in delivering premium viewing experiences to Mexican audiences.

The Economic Times

Amazon to invest $10 billion in UK data centres

Amazon Web Services plans to invest 8 billion pounds in the UK over the next five years to build and maintain data centres. This investment is expected to contribute 14 billion pounds to the UK's GDP by 2028 and support over 14,000 jobs. The project highlights increasing demand for cloud services driven by artificial intelligence.

Mint

Oracle surges 15% to hit record high after Q1 cloud bookings swell on AI boom, stock up 33% YTD

Oracle surges 15% to hit record high after Q1 cloud bookings swell on AI boom, stock up 33% YTD

The Economic Times

Salesforce expands local cloud platform to Israel

The platform, two years in the making, will initially run on Amazon Web Services (AWS) infrastructure and possibly later on Google Cloud Platform, company officials said.

The Economic Times

Oracle shares jump 10% as AI push perks up cloud demand

Oracle shares rose more than 10% on Tuesday as a push to embed AI into its cloud service products boosted its first-quarter results and helped it narrow the gap with market leaders.

CNBC TV18

Oracle Corp. shares jump 9% in extended trade after profit beat on cloud expansion

Oracle has been one the best-performing large software stocks this year, rising 33% through the close.

The Economic Times

Zomato upsets BookMyShow-KKR deal; BigBasket's FY24 report

Zomato’s entry into the entertainment space has cast a cloud over KKR’s investment in BookMyShow. This and more in today’s ETtech Top 5.

The Economic Times

GTPL Hathway launches entertainment app GTPL Buzz

GTPL Hathway has launched the GTPL Buzz app, offering cloud gaming, live TV streaming, and international content channels. The app includes Blacknut Cloud Gaming's first commercial launch in India, with over 500 premium games. It also integrates Distro TV for a variety of global content and features an upgraded GIVA chatbot for customer support.

The Economic Times

Governments say ‘aye’ to sovereign AI

​​A pre-bid meeting hosted by the IT ministry saw participation from heavyweights like Nvidia, Intel, AMD, Qualcomm, Microsoft Azure, AWS, Google Cloud, and Palo Alto Networks. Generative AI (GenAI) is reshaping global economies, with nations scrambling to leverage this transformative technology for economic and productivity gains.

CNBC TV18

TCS expands partnership with Google Cloud to launch AI-powered cybersecurity solutions

TCS Share Price | The two cybersecurity solutions are TCS Managed Detection and Response (MDR) solution is powered by Google Security Operations and the TCS Secure Cloud Foundation.

The Economic Times

Global giants take AIm at India’s GPU ambition

Nvidia, Intel, Advanced Micro Devices, Qualcomm, Microsoft Azure, Amazon Web Services, Google Cloud and Palo Alto Networks were among participants of a pre-bid meeting conducted by the government for its Rs 10,000-crore GPU procurement tender. The ministry of electronics and information technology (MeitY) said the companies' participation was “exceptional”.

The Economic Times

Reliance Jio's cloud storage offer could undercut Google One and iCloud pricing

Reliance Jio's introduction of 100GB of free cloud storage could disrupt the dominance of Google One and iCloud in India, experts say. Jio's offer is set to challenge the current pricing models of Google One (₹130 for 100GB) and iCloud (₹75 for 50GB), potentially prompting these services to reduce their prices. This move is part of a broader trend where Indian companies like Ola are competing with Western giants by adopting local solutions, which has already led to significant price reductions in services like Google Maps.

The Economic Times

Honouring previously made offers priority; plan to hire 12,000 staff in FY25: Wipro

Wipro foresees an overall intake of 10,000-12,000 NGAs and, will hire in the areas of GenAI, cybersecurity and cloud, it said.

Business Standard

Rebel Food loss narrows to Rs 378 crore in FY24; revenue up 18.8%

Rebel Foods -- which owns Faasos, Behrouz Biryani, Oven Story and other cloud kitchens -- has reported a narrowing of its consolidated loss to Rs 378.21 crore in FY24, according to financial data accessed by the business intelligence platform Tofler. Its revenue from operations rose 18.8 per cent to Rs 1,420.24 crore for the financial year ended March 31, 2024. In FY23, the company's net loss was Rs 656.55 crore, while its revenue stood at Rs 1,195.22 crore. Rebel Foods's other income in FY 24 was Rs 65.29 crore, up 2.81 per cent. Its total income was Rs 1,485.53 crore, up 18 per cent in 2023-24. The company's total expenses were Rs 1,857.03 crore in FY24 against Rs 1,827.04 crore for the financial year ended March 31, 2023. Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Rebel Foods is the world's largest internet restaurant company, having over 450 kitchens across 70 cities. It owns brands such as Faasos, Behrouz Biryani, Ovenstory Pizza, Mandarin Oak, The Good Bowl, SL

Mint

IPO-bound Rebel Foods’ losses shrink to ₹378 crore in FY24

Rebel Foods doubled down on its omni-channel cloud kitchen approach last fiscal and aims to break even soon.

The Economic Times

Will global risks and slower credit growth cloud India’s GDP outlook? Sonal Varma answers

​The global factors I think is the biggest risk factor to watch over the next 6 to 12 months. We have seen some shake in terms of the US employment situation. As of now it still looks a moderation rather than a big slowdown in US growth, but that could potentially be something of a risk we need to monitor.

The Economic Times

Chipmaker Marvell Tech beats quarterly revenue estimates amid AI surge

Increased investments by big tech companies in generative AI applications are driving cloud customers to develop new data centers. This trend fuels the demand for cloud-optimised silicon solutions, such as those offered by Marvell. For the third quarter, Marvell forecast revenue to be $1.45 billion, plus or minus 5%, compared with an estimated $1.40 billion.

The Economic Times

Meta’s Llama models hit 350 million downloads, leads open-source AI

Besides the community platform Hugging Face, Llama was also being accessed through Meta’s cloud partners such as Amazon Web Services (AWS), Microsoft’s Azure, Databricks, Dell, Google Cloud, Groq, NVIDIA, IBM watsonx, Scale AI, Snowflake, to name a few.

The Economic Times

Tencent Cloud sells shares worth Rs 1,668.15 crore in PB Fintech

​​As of June 30, Tencent Cloud Europe B.V. held a 4.26% stake in the company. Axis Mutual Fund, Mirae Asset MF, Marshall Wace Investment Strategies Eureka Fund, SBI MF and Goldman Sachs (Singapore) PTE-ODI were among some of the buyers.

Business Standard

Google Cloud, Wipro partner to use Gemini Code Assist to boost productivity

Google Cloud on Thursday said it has partnered with IT firm Wipro to integrate Gemini Code Assist into the latter's development workflows. Gemini Code Assist is an AI-powered collaborator that helps developers write, review, and debug code more efficiently. This collaboration will enhance developer productivity, improve code quality, and encourage innovation, a company statement said. "At Wipro we are using conversational AI/Gen AI technology to improve the efficiency, effectiveness, and quality of the work done by associates on an individual basis. Tools like Google Cloud's Gemini Code Assist will significantly enhance first party productivity among our developers enabling them to deliver higher quality solutions more efficiently," Wipro Limited Chief Information Officer Anup Purohit said. Integrating Gemini Code Assist will accelerate development cycles, reduce errors, and enable developers to focus on higher-level problem-solving, the statement said.

Mint

'Time for all businesses in India to work together as Grand Coalition': Mukesh Ambani's full speech at RIL AGM 2024

Reliance Industries reported a record turnover of ₹10 lakh crore in FY24 and plans to integrate AI in all processes. New initiatives include Jio Brain, AI-ready data centres, and a Jio AI Cloud offer.

The Economic Times

Reliance AGM 2024: Mukesh Ambani unveils Jio AI-Cloud, AI brainchild 'Jio Brain' and much more

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The Economic Times

Jio AI cloud: Ambani unveils 'Diwali Welcome' offer with 100GB free storage to support AI ambitions

Mukesh Ambani, chairman of Reliance Industries, announced a Diwali offer at the 47th AGM, providing Jio users with 100GB of free storage on the Jio AI-Cloud service. He emphasized Reliance's commitment to making AI accessible and affordable while complying with Indian data and privacy regulations.

Mint

Reliance Industries AGM 2024: RIL to consider bonus shares, Jio-AI cloud to issue 100 GB free storage; 5 key highlights

Reliance Industries AGM 2024: The board will consider bonus shares next month

Mint

Reliance AGM 2024 Live Updates: From Jio Cloud to JioBrain, CMD Mukesh Ambani plans transform RIL into Deep-Tech company

Reliance AGM 2024 Live Updates: From going big on Artificial Intelligence (AI), to transforming Reliance Industries into a Deep-Tech company, Reliance Industries Chairman Mukesh Ambani made a slew of announcements in his address to shareholders.

CNBC TV18

PB Fintech Block Deals | Tencent Cloud Europe likely to sell 2.1% stake at ₹1,660.2 per share

The deal will be subject to a 60-day lock-in period for the seller, sources told CNBC TV18. Shares of PB Fintech Ltd ended at ₹1,731.15, down by ₹43.10, or 2.43%, on the BSE.

The Economic Times

Australia-based REA opens first India GCC in Gurugram

"Our aim is to unlock the extensive Indian talent in data, cloud, AI and product development to build products for our users in Australia. REA cyber city teams will work directly with Australian teams on the group's leading products and platforms to shape and deliver experiences for millions of consumers every day across all stages of the property journey", Maidment told ET.

The Economic Times

Open Cloud Compute looks to onboard 3 providers for October pilot

The Open Cloud Compute network was unveiled by Infosys non-executive chairman Nandan Nilekani earlier this year. It is an open interface for providers and customers of computing infrastructure. The network is hoping to onboard at least three compute providers to pilot in October.

Business Standard

Regulators' panel brainstorm on taking action on spammers making robo calls

A joint panel of sectoral regulators brainstormed on taking urgent action on spammers making promotional voice, robo and pre-recorded calls in a meeting convened by the telecom regulator Trai on Tuesday. The joint committee of regulators (JCOR) was attended by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India (Irdai), Pension Fund Regulatory and Development Authority (PFRDA), Ministry of Consumer Affairs (MoCA) and Ministry of Electronics and IT (MeitY), an official statement said. The Department of Telecom (DoT) and Home Ministry representatives also attended the meeting as special guests. The regulators deliberated on business entities making commercial voice calls using cloud-based telephony and fixed-line connection-based private exchanges, with hundreds of indicators in violation of Trai's regulations. "These entities should be migrated to the designated 140 series for making promotional call

Business Standard

Wipro, Dell Tech expand partnership to integrate AI enterprise solutions

IT major Wipro on Tuesday said it has expanded its partnership with Dell Technologies to integrate their AI enterprise solutions and provide enterprises best-in-class technology and the latest in chip designs. The collaboration will allow enhanced cost control and risk mitigation while providing enterprises with access to the best-in-class technology, accelerating the adoption of AI across cloud, data centre and edge environments, a regulatory filing said. "Wipro's Enterprise AI-Ready platform will leverage the Dell AI Factory with NVIDIA, including Dell validated designs for generative AI, bringing GenAI processing power to data without extensive upfront investment. "The Wipro AI Control Center, an advanced orchestration layer that resides on the Wipro Enterprise AI-Ready platform and enables a seamless infusion of AI for IT and business, will now provide enhanced throughput from the Dell infrastructure," the filing said. This will support the safe, responsible, and sustainable ..

Hindustan Times

Infosys layoffs not coming any time soon, says CEO Salil Parekh: ‘Growth back'

Salil Parekh believes generative AI adoption will grow over time, similar to past digital and cloud technology trends.