After Zomato, this is Chris Wood's next big bet in India; Vedanta will be a trillion-dollar company in next 10 years: Anil Agarwal; Startups & more
Vedanta will be a trillion dollar company in next 10 years, says Anil Agarwal
Vedanta Group , under the visionary leadership of Chairman Anil Agarwal, has emerged as a prominent force in the global market. Addressing the company's shareholders, Agarwal said that his ambition is to transform Vedanta into a trillion-dollar enterprise in the next ten years.
"Our vision is that Vedanta will be more than one trillion dollar company in next 10 years. We will produce our own copper, oil and gas," Agarwal added.
TCS says the firm encourages employees to work from the office but never linked it to career or pay
Tata Consultancy Services (TCS) has reacted to the news of the company sent memos to employees who violated the 'work from office' mandate. In a statement TCS has said that for now, we have not communicated or deployed linkages to career or compensation.
‘We are excited to see our campuses buzzing with energy and want all our employees to be a part of that vibrant ecosystem. A significant number of employees have joined TCS in the last 2 years. It is important for them to experience the TCS environment to collaborate, learn, grow and also have fun together, thus developing a stronger sense of belonging to the organisation and enabling better integration." TCS spokesperson said in a statement.
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ChatGPT impact: Microsoft report finds 74% Indian employees worried about losing jobs to AI
The artificial intelligence (AI) revolution has led many to believe that it might be the most transformative technology for human beings. Also, the boom in generative artificial intelligence has prompted intense speculation about the long-term repercussions of this cutting-edge technology across industries and activities.
The major threats of artificial intelligence include the spread of misinformation, privacy violations and unemployment. The biggest cause of concern for governments around the world is that generative AI could replace tens of millions of jobs.
G20 EMPOWER | Apollo Hospitals’ Sangita Reddy highlights India's efforts in women's leadership
The G20 Alliance for the Empowerment and Progression of Women’s Economic Representation (EMPOWER) is an alliance of G20 business leaders and governments that aims to accelerate women’s leadership and empowerment in the private sector.
Sangita Reddy, Joint Managing Director of Apollo Hospitals, expressed her enthusiasm for her role as the head of G20 EMPOWER. She acknowledged the depth of the challenges, the diverse range of solutions, and the commendable initiatives undertaken by the Indian government during the G20 presidency. She emphasised the global recognition of India's efforts within the G20 framework.
India is likely to get three new Apple stores in the next four years
After a grand launch of its first two retail stores in India in April, iPhone maker Apple is in discussions to open three new store in India over the next four years, according to a Bloomberg report.
The company is now discussing opening a third store in India in 2025, which is likely to be in the suburban area of Borivali, according to the report. A fourth location, slated for 2026, is proposed to be in the works in New Delhi, at the DLF Promenade mall. This store could become the second-largest Apple store in the country after the BKC outlet. In 2027, the company looks to add a fifth location in India near the Worli seaside area.
Nvidia co-founder Jensen Huang’s wealth doubles to $35 billion amid AI boom
Chipmaker Nvidia co-founder and Chief Executive Officer Jensen Huang’s fortune has doubled this year as his company is at the forefront of the Artificial Intelligence (AI) revolution. The 60-year-old has benefited tremendously from the AI boom. According to the Bloomberg Billionaires Index, Huang's net worth soared by almost $7 billion last week alone due to the surge in AI stocks and his net worth now stands at nearly $35 billion.
Last week, Nvidia’s share had soared after the tech giant revealed an impressive earnings report that showed the boom in generative AI is translating into big revenue gains for the chipmaker, Business Insider reported.
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After Katrina Kaif, cricketer KL Rahul invests in Sequoia-backed Hyugalife
Yet another celebrity invests in Sequoia-backed Hyugalife. This time it’s Indian cricketer and investor KL Rahul. The details of the investment have not been disclosed.
This investment comes months after Rahul’s last investment in 4CAST. In March 2023, Rahul had acquired equity in English cricketer Ben Stokes’ entrepreneurial venture 4CAST. Seems like the cricketer, who at present is recovering from a sports injury, is in an investment spree.
Mentorship critical in early stages of a startup, says T-Hub
Telangana, India's youngest state, is known for its supportive ecosystem for startups. It offers favorable infrastructure, a skilled workforce, and a sustainable funding model. The state is home to over 6,660 registered startups, including 356 seed-funded and 148 venture-funded ones. Additionally, there are more than 3,400 incubators in the state. CNBC-TV18 Future Female Forward, held in Hyderabad, celebrated and recognised women entrepreneurs who have overcome challenges to establish innovative and sustainable business models that contribute to the country's growth.
Google backs Indian SpaceTech startup Pixxel in $36 million Series B round
Pixxel, the first Indian space tech startup to launch a private commercial satellite, has raised $36 million in a Series B funding round, onboarding Google as a new investor.
The round also saw the participation of existing investors Radical Ventures, Lightspeed, Blume Ventures, GrowX, Sparta and Athera. Pixxel’s venture funding now totals $71 million, making it the highest-funded space tech startup in India.
After Zomato, this is Chris Wood's next big bet in India
Chris Wood of Jefferies has initiated an investment in AU Small Finance Bank with a 3 percent weightage, just a week after initiating an investment in food delivery platform Zomato, with a 4 percent weightage.
AU Small Finance Bank will be part of GREED & fear's long-only India portfolio. The investment will be paid for by removing the investment in Computer Age Management Services (CAMS).
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