The Economic Time
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US chip bans not meant to hobble China's growth, Blinken says
Since 2022, US officials have imposed sweeping controls on which computing chips can be exported to China, cutting off some sales from Nvidia,...
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Startup twists & turns on IPO street; and other top tech and startup stories this week
Food and grocery delivery company Swiggy on Friday confidentially filed its draft documents for an initial public offering (IPO) with stock market...
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EU's Vestager meets French tech firm Mistral AI amid competition concerns
In February, Microsoft invested $16 million in Mistral AI and partnered with them to make its artificial intelligence models available through its...
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Alphabet, Microsoft earnings show hefty AI bets are driving growth
Alphabet rose 10%, crossing $2 trillion in market value with a gain of about $180 billion as it sweetened the pot for investors with its maiden...
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Cybersecurity firm Darktrace accepts $5 billion takeover
Cybersecurity firm Darktrace said Friday it had accepted a $5.3-billion takeover bid from US private equity firm Thoma Bravo, which highlighted the...
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Swiggy confidentially files draft IPO papers for $1.25 billion public listing
Swiggy, which secured a nod from its shareholders for a $1.25 billion public listing earlier this week, has made the filings through Sebi’s...
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Blinkit contributes more to Zomato’s market cap than its food delivery biz: Goldman Sachs
Blinkit boosts Zomato's value surpassing its food delivery business. Blinkit’s implied value is Rs 119 per share, while Zomato’s food delivery...
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US-India Business Council launches AI task force with Meta as co-chair
The US-India Business Council's AI Task Force, co-chaired by Meta, drives cross-sector collaboration in AI. Infosys, UPS, BNY Mellon join the AI...
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Intel forecast misses estimates; shares tumble
Intel predicts lower Q2 revenue and profit, shares down 8%. Weak demand for data center, PC chips. Nvidia leads AI market. Gelsinger optimistic...
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Mohit Gupta, Mukesh Bansal’s omnichannel fashion startup Lyskraft raises $26 million in seed funding
Former Zomato executive Gupta will steer the venture as CEO, Bansal to stay away from operations. The fashion startup will focus on offline play in...