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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.
US probing China Telecom, China Mobile over internet, cloud risks
The Biden administration is investigating China Mobile, China Telecom, and China Unicom over concerns they could misuse access to American data through their U.S. cloud and internet services by sharing it with Beijing. The Commerce Department is leading the probe, which has completed "risk-based analyses" of China Mobile and China Telecom. These companies, despite being barred from providing certain services, still offer cloud and internet routing services in the U.S., posing potential national security risks. The investigation aims to close any remaining avenues for Chinese firms to access U.S. data, amid ongoing tech tensions.
What the arrival of AI phones and computers means for our data
Apple, Microsoft, and Google are leading the way in the development of artificially intelligent smartphones and computers, requiring more user data for tasks like photo editing and call monitoring. This raises privacy concerns as AI needs access to personal data across devices and apps.
Amazon pledges $230 million to boost generative AI startups
The initiative will offer early stage companies AWS cloud computing credits, mentorship, and education to enhance their use of AI and machine learning technologies, according to the company. Participating startups will gain access to AWS computing, storage, database, and custom AI chip services through these credits.
Eye on AI: Tech giants form industry group, Apple-OpenAI deal and other top developments
Google, Microsoft, Intel and other tech companies have come together to take on chipmaking giant Nvidia. Apple partners with OpenAI. The ChatGPT maker is training its new flagship model to succeed GPT-4. Google is putting limits on AI search experience. French unicorn startup Mistral releases generative AI model for coding.
Nvidia profits soar on demand for AI power
Nvidia said Wednesday its quarterly net profit rocketed by seven times year-on-year on demand for its chips to power artificial intelligence in data centers. The California-based company reported a net profit of $14.9 billion, while its revenue of $26 billion was almost four times what it took in during the same fiscal quarter last year.
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Amazon to invest 15.7 billion euros in Spain
Amazon's cloud computing division AWS will invest 15.7 billion euros ($17 billion) to expand its data centres in Spain's Aragon region through to 2033, the US tech giant said Wednesday. Amazon in 2021 had planned to invest 2.5 billion euros in Aragon, where it has three data centres.
Microsoft offers cloud customers AMD alternative to Nvidia AI processors
Microsoft's clusters of Advanced Micro Devices' flagship MI300X AI chips will be sold through its Azure cloud computing service. They will give its customers an alternative to Nvidia's H100 family of powerful graphics processing units (GPUs) which dominate the data center chip market for AI but can be hard to obtain due to high demand.
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.
India to become AI use case capital of the world: Nandan Nilekani
Nandan Nilekani's People+ai introduces 'Adbhut India' and OCC project, emphasizing frugal AI innovation in India. The initiatives aim to leverage the country's population and digital infrastructure for impactful AI solutions, fostering healthy competition.
India Inc hunts for new cyber warriors
Corporate India is actively seeking cybersecurity professionals amidst rising concerns over data breaches, evolving regulatory requirements, and the emergence of advanced artificial intelligence platforms. To address vulnerabilities in security controls and processes, companies are bolstering their cybersecurity teams across various domains.
Ola's Bhavish Aggarwal snaps ties with Microsoft Azure in stand against Western tech
Bhavish Aggarwal has criticised LinkedIn for deleting his posts without notification. He also flagged the Microsoft-owned professional networking platform's AI tool for imposing a political ideology on Indian users, emphasising that his opinions cannot be erased. Aggarwal's protests drew support from peers such as Unacademy founder Gaurav Munjal, as well as several other users of LinkedIn.
Netweb Technologies starts commercial production at a new facility in Faridabad
Netweb Technologies launches high-end computing production at new Faridabad facility, aiming for Rs 2,000 crore turnover. Expansion plans include employee increase and international exports of Nvidia computers.
Best AI tokens to invest in 2024: Newly emerging AI tokens
Investment manager VanEck predicts revenue from these projects could reach $10.2 billion by 2030 – and a staggering $51 billion in a best-case scenario.
People+ai partners with 24 tech organisations to enable open cloud compute infra
AMD, Oracle, and various technology providers collaborate to address the increasing compute requirements. The partnership aims to enhance the compute ecosystem in India through the creation of a network of providers for accessible and tailored compute resources.
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.
Akamai eyes edge computing units in three Indian cities
In a move to expand its global compute business, cloud computing giant Akamai Technologies is eyeing Indian cities like Delhi, Bengaluru, and Hyderabad for potential edge computing facilities by the end of the year, according to their CEO Tom Leighton.
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.
Vi to renew tech outsourcing deal with IBM for about $1 billion
Renewal of the tech outsourcing deal comes even as Vi's board meets Saturday to consider raising Rs 20,000 crore via a preferential share issue. Earlier this week, Vi's shareholders approved a proposal to raise this capital through equity and equity-linked instruments.
Top companies back move to set up open cloud compute network
People+ai, an initiative by EkStep Foundation co-founded by Nandan Nilekani, set out last year to address increasing compute demand in the country, which is increasing with AI.
Nvidia backs little-known upstart in India’s biggest AI bet yet
While companies like OpenAI and Google have poured billions of dollars into such chips in the US, Yotta is making India’s largest bet yet on the promise of AI.
International Women's Day: the intersection of technology, law, and gender
The intersection of technology, law, and gender presents opportunities for women in the legal realm to contribute to the digital transformation of the sector.
Telcos made Rs 10,000 cr extra capex in 2022-23 to support large apps: COAI
Telecom operators spent Rs 10,000 crore in 2022-23 to support traffic from large apps. COAI estimates the government lost Rs 800 crore in revenue. Operators demand contributions from Netflix, WhatsApp, Instagram, X for network infrastructure costs. India crossed the 100 crore subscriber mark in mid-2015 and in last 8.5 years it has added only around 19 crore connections.
Nvidia chases $30 billion custom chip market with new unit
The dominant global designer and supplier of AI chips aims to capture a portion of an exploding market for custom AI chips and to protect itself from the growing number of companies interested in finding alternatives to its products.
Microsoft CEO Satya Nadella caps a decade of change and tremendous growth
Microsoft's stock has soared by more than 1,000% since Nadella took the helm in 2014, compared to the more gradual 185% growth of the broader S&P 500. Microsoft now has a market value of $3 trillion - more than any US publicly traded company, including its longtime rival Apple.
Google Cloud removes data transfer fees when clients switch to rivals
Many cloud providers, including Microsoft's Azure and Amazon Web Services (AWS), charge customers based on the amount of data transferred when they switch vendors.
HPE CEO expects no China challenge on $14-billion Juniper deal
HPE on Tuesday offered to buy the networking firm, which makes custom networking chips and gear that can be used inside data centers to power artificial intelligence.
Eye on higher tech spend in 2024, IT firms see 5-6% rise in hiring
Hiring mandates put out by IT services cos – that had almost completely frozen recruitments in the last few quarters due to weak tech demand – are improving on a month-on-month basis, recruitment firms said.
Transforming businesses with AI: Applied Cloud Computing's vision and strategy
CEO Nilesh Satpute demystifies artificial intelligence (AI) as he shares insights into empowering organisations and ACC's suite of AI solutions.
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