AI COMPUTE RATES
AI supercharges data centre energy use-straining the grid and slowing sustainability efforts
According to the Electric Power Research Institute, a nonprofit research firm, at 2.9 watt-hours per ChatGPT request, AI queries require about 10 times the electricity of traditional Google queries. Data centres have continuously grown for decades, but the growth in the still-young era of large language models has been exceptional.
P2P lenders adapt to regulatory pressures; GenAI deals in IT
Happy Thursday! Peer-to-peer lending firms are scrambling to comply with the central bank’s rules by tweaking their products. This and more in today’s ETtech Morning Dispatch.
Samsung brings tech's latest fashion to wearable technology with AI twists in new watch and ring
The South Korean electronics giant on Wednesday revealed that both its first-ever premium smartwatch and a smart ring heralding its entry into a niche market will include AI features that are supposed to help people monitor and manage their health.
Deven Choksey on 3 themes to focus on with margin of safety in mind
Deven Choksey says does not expect any dramatic improvement in IT companies’ numbers, but expects the strength in the commentary to be positive hereafter. From that particular point of view, the IT companies could get re-rated, and 15% to 20% appreciation is possible in many of the IT companies including some of the mid-tier IT companies.
Soon, AI computing assessment units to determine GPU needs
India's Rs 10,372 crore AI mission involves setting up AI units in ministries with 10,000 Nvidia GPUs. MeitY oversees GPU allocation, utilizing viability gap funding for startups and national security. This Rs 5,000 crore plan includes H100 chip distribution via Yotta Infrastructure, Reliance Group, and others focusing on domestic data centers and global AI collaboration.
Best 2 in 1 laptops for convenient portability and productivity
Uncover the ultimate blend of versatility and performance with our roundup of the best 2-in-1 laptops available online. These devices seamlessly transition between laptop and tablet modes, offering flexibility for work, creativity, and entertainment. From powerful processors and stunning displays to ergonomic designs and stylus compatibility, each entry is evaluated for its innovative features and user-friendly design.
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On A(I) Mission, Centre may go with Indian intel
GPUs are currently a precious resource for the AI industry and are manufactured only by a handful of American companies like Nvidia, Intel, and AMD. Sources said Indian data firms can procure GPU units and then provide them to local firms, startups, academics and researchers at a subsidised rate, for all use cases.
Samsung Electronics forecasts major Q2 profit jump
Samsung Electronics said Friday it expects second-quarter operating profits to rise more than 15-fold on-year as chip prices bounce back and demand for generative AI continues to grow. The world's largest memory chip maker said in a regulatory filing that its April-June operating profits were expected to rise to 10.4 trillion won ($7.54 billion), up 1,452.2 percent from 670 billion won a year earlier.
Koo calls it a day; Paytm Bank, auditor lock horns
Once touted as India’s response to Twitter, it’s curtains for homegrown microblogging app Koo. Details on this and more in today’s ETtech Top 5.
Investors pour $27.1 billion into AI startups, defying a downturn
Investors poured $27.1 billion into AI startups in the United States from April to June, accounting for nearly half of all U.S. startup funding in that period, according to PitchBook, which tracks startups. In total, U.S. startups raised $56 billion, up 57% from a year earlier and the highest three-month haul in two years.
China leading generative AI patents race, UN report says
Generative AI, which produces text, images, computer code and even music from existing information, is exploding with more than 50,000 patent applications filed in the past decade, according to the World Intellectual Property Organization (WIPO), which oversees a system for countries to share recognition of patents.
Wary Paytm to avoid regulated biz; Foxconn to make AI servers in India
Happy Friday! Paytm is steering clear of regulated businesses and will instead focus on building a strong distribution network. This and more in today's ETtech Morning Dispatch.
AI drinks energy up - quantum computing will work to our advantage, but the tech is new
The rapid advancement of computing over the past 70 years, driven by increases in computing power, has revolutionized various sectors such as banking, communication, healthcare, product design, and warfare. Semiconductor chip technology plays a crucial role in this growth. However, the future of computing faces a significant challenge due to the increasing power needs of AI innovations like ChatGPT. This surge in demand poses a threat to the sustainability of global energy resources and the environment.
Why AI's future is Indian: SenseAI survey shows how India is at a turning point
One of the key revelations is that SaaS has emerged as the dominant business model among the startups in a survey, indicating a growing preference for cloud-based AI solutions.
Nasdaq jumps nearly 1% on Nvidia results cheer, inflation woes drag broader market
The S&P 500 and Nasdaq initially reached record highs, but positive sentiment waned after data revealed a rise in U.S. inflation in May. This concerning news was somewhat offset by reports of increased business activity and decreased unemployment claims, highlighting a complex economic landscape.
US stocks range-bound on Fed policy caution, Nvidia results watch
The Dow fared better than its peers, boosted by financials and a 1.5% rise in Microsoft, a day after the tech giant launched its new line of personal computers with AI features. JPMorgan Chase rose 1.3%, recovering from Monday's 4.5% slide. That, coupled with gains in other major big banks, steered a 1.2% advance in the S&P 500 banks index.
Dow ends above 40,000 milestone, indexes notch up weekly gains
The benchmark S&P 500 edged higher after paring losses while the Nasdaq fell, but both chalked up a fourth straight week of gains. The Dow rose to end the fifth week of advances in a row.
Govt ready to fund 50% cost of creating 10,000 GPU capacity in India: Meity secy S Krishnan
The Centre is willing to spend up to half of the cost of creating computing capacity of up to 10,000 graphic processing units (GPUs) in a push to the National Artificial Intelligence (AI) mission, funding can be done either through viability gap funding or a voucher based system
Embracing Industry 4.0: Navigating business transformation trends in the digital age
Post-pandemic, the focus on Industry 4.0, Circular Value Chains, Autonomy via Edge Computing, and Demand-Driven Digital Supply Chains reshaped global business dynamics. India's leadership in AI, cybersecurity, and sustainable manufacturing practices highlights its commitment to digital transformation.
Nasdaq hits record close after Powell reassures investors, CPI in focus
U.S. producer prices increased more than expected in April as the cost of services and goods rose sharply, leading traders to pare back bets of a first rate cut in September.
AI adoption in key Indian sectors touches 48% in FY24
A Teamlease Digital study revealed high AI adoption in pharma and healthcare (52%), followed by FMCG and retail (43%). Manufacturing (28%) lagged behind, while infrastructure & transport (20-22%) and media & entertainment (10-12%) saw the least adoption.
NFT Revival: The top 5 crypto projects connected with NFTs that can explode this year
NFTs make a comeback with Azuki NFT sales exceeding $1.1 million in a day. Traders diversify into KangaMoon (KANG), Internet Computer (ICP), Render (RNDR), Fetch.ai (FET), and Gala (GALA). Key catalysts fuel growth in the NFT market.
Paytm market cap nears $2.5 billion; state-run banks turn to GenAI
Paytm’s market capitalisation is down to nearly $2.5 billion after a ninth straight session of declines on the BSE.
Microsoft's AI lead puts Amazon cloud dominance on watch
Microsoft leads in cloud market with AI tools like Copilot, while Amazon and Google-parent Alphabet lag. Azure revenue growth surpasses Amazon Web Service. Morgan Stanley expects major revenue from Copilot in 2025.
AI SaaS cloud startup Neysa bags $20 million from Matrix, Nexus, others
Neysa, a Mumbai-based artificial intelligence (AI) cloud and platform-as-a-service startup, will utilise the fresh capital for expanding infrastructure required for strengthening its research and development team, and for sales and marketing.
Building AI compute capacity via marketplace model; Paytm’s UPI share dips
In early March, the union cabinet approved a Rs 10,371.92-crore India AI Mission that aims to build AI computing infrastructure of at least 10,000 graphics processing unit (GPUs) through public-private partnerships in five years.
AI compute mission best served by marketplace model, say experts
This comes just weeks after the union cabinet approved a Rs 10,371.92-crore India AI Mission. This mission looks to build and strengthen AI computing infrastructure in India of at least 10,000 graphics processing unit (GPUs) through public-private partnerships in five years.
AI could have a surprising effect on interest rates
As advancements in artificial intelligence (AI) accelerate, debates arise regarding its impact on economies and interest rates. Contrary to conventional wisdom, economist Tyler Cowen predicts that real interest rates will rise due to increased demand for capital expenditures (capex) driven by AI, leading to significant changes in economic dynamics.
Yotta Data Services to offer cheapest AI compute rates globally, says CEO
Yotta Data Services, partnering with NVIDIA, aims to provide competitive AI compute capacity. Leveraging unique market position, it plans to reach breakeven in 2-3 years on a $1B investment. The company also participates in the AI Mission initiative.
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