Page 2 - Tech Firms

Can China compete against US in AI talent war with homegrown minds?

China looks at international experience less as a brain drain and more as a way for researchers to acquire knowledge before returning home, a Stanford paper said

Meta offering $100 million bonuses to poach OpenAI talent, says Sam Altman

Sam Altman said he respects Meta but does not see it as strong on innovation, adding that innovation, not just pay, is what retains talent at OpenAI

HPE appoints Bhawna Agarwal as India MD; Satsangi to retire in July

Bhawna Agarwal takes over as MD and SVP of HPE India, succeeding Som Satsangi, who will retire in July 2025 after 27 years of service with HP and HPE

Fuze raises $12.2 mn from Galaxy, e& Capital to power digital assets infra

Company will use investment to expand business, product innovation and hiring

TCS sees strong tech growth in India, Brazil and other key markets

Some short-term headwinds notwithstanding, there is a sense of optimism in India, Brazil and other 'growth markets' around tech adoption and transformation opportunities, a senior executive of Tata Consultancy Services (TCS) said on Thursday. The company continues to be upbeat about potential of the domestic market itself and is doubling down on its focus on India, where a combination of favourable factors including economic growth, innovation drive, favourable demography are all coming together at this points of time, Girish Ramachandran, TCS' President - Growth Markets, told PTI. "...there has been a sense of optimism around all the markets that I go to. Yes, there will be headwinds in the short term but overall if you look at most markets, whether it is Brazil, whether Saudi Arabia, whether it is India, whether it is Asia Pacific, there is a sense of optimism and most markets tend to do well in terms of the GDP growth, so overall I do think that from 'growth market' point of view,

Google to face US govt in court over search monopoly breakup attempt

Google will confront an existential threat Monday as the US government tries to break up the company as punishment for turning its revolutionary search engine into a ruthless monopoly. The drama will unfold in a Washington courtroom during the next three weeks during hearings that will determine how the company should be penalised for operating an illegal monopoly in search. The proceedings, known in legal parlance as a remedy hearing, feature a parade of witnesses that includes Google CEO Sundar Pichai. The US Department of Justice is asking a federal judge to order a radical shake-up that would ban Google from striking the multibillion dollar deals with Apple and other tech companies that shield its search engine from competition, share its repository of valuable user data with rivals and force a sale of its popular Chrome browser. The moment of reckoning comes four-and-half-years after the Justice Department filed a landmark lawsuit alleging Google's search engine had been abusi

Google broke law by dominating online ad tech market, rules US judge

US court rules Google broke antitrust laws in ad tech market, paving way for possible breakup of its ad business. DOJ pushes for sale of key units like Google Ad Manager

Tech startups worth $100 bn set to pursue IPOs by 2027: Rainmaker Group

Walmart-owned Flipkart, financial technology (fintech) leader PhonePe, SoftBank-backed Lenskart, Razorpay, Zetwerk, and Meesho are among the top companies preparing to go public in India

Kathy Yang Chiu-Chin to be named Foxconn's first woman rotating CEO

Electronics manufacturing giant and Apple vendor Foxconn has named Kathy Yang Chiu-chin as its rotating chief executive officer with effect from Monday, the company said. In a statement, it said Chiu-chin will be the first woman to hold the rotating CEO's role at Foxconn. "Hon Hai Technology Group (Foxconn) has named Kathy Yang Chiu-chin its rotating Chief Executive Officer, effective Monday, setting two major milestones in corporate governance leadership for the world's largest electronics manufacturing service provider," the company said. Foxconn chairman Young Liu, during his visit to India in August 2024, had told PTI that the company is looking to promote women in leadership roles. Chiu-chin was also at the event in Chennai where Liu made the statement on promoting women leadership in the Foxconn Group. According to the last information shared by Foxconn, women account for 30 per cent of its total workforce in India. Foxconn had around 48,000 employees in August 2024. Chiu-

Calculus Group, HRDS India ink Rs 1,000-cr deal for AI-driven rural tech

Technology solutions provider Calculus Group has signed a memorandum with NGO HRDS India to deploy AI-enabled tools for developing a digital ecosystem in rural areas, a top company official said. As per the agreement, Calculus Group will fulfil projects undertaken by HRDS India in the field of rural development, where technology will play a distinct role in social enablement. Calculus Group Founder and CEO Sooraj Vasudevan said his company builds technology ecosystems for corporates and telecommunication companies and governments globally. "Through this Rs 1,000 crore MoU with HRDS we are trying to emulate or replicate that in the context of the rural population and bring whatever pieces of technology needed to roll out and make an impact. It doesn't have to be a particular product," Vasudevan told PTI. He said there can be few things that have to be put in place to develop the digital ecosystem like data connectivity, devices, etc, to enable digital payments. "Whether it is in th

Seafood tech firm Captain Fresh raises Rs 250 cr in ongoing pre-IPO round

Prosus Ventures, Accel, and Tiger Global lead the round, backed by prominent domestic family offices

Mindpsace REIT buys 18.2L sq ft Hyderabad office complex for Rs 2,038 cr

Realty firm Mindspace Business Parks REIT has acquired Sustain Properties, which owns 18.2 lakh office space in Hyderabad, at an enterprise value of Rs 2,038 crore as part of its plan to expand rent-yielding portfolio. Mindspace REIT will acquire 100 per cent equity in Sustain Properties Pvt Ltd at an equity value of Rs 613 crore. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. The deal is expected to close by the end of March. In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at 'Commerzone Raidurg', located at Raidurg, Hyderabad, from the shareholders of Sustain. The office space has been leased to Qualcomm. The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08

Goldman Sachs eyes majority stake in Multiples PE-backed PeopleStrong

The deal is expected to value Gurugram-based HR tech firm PeopleStrong at approximately Rs 1,500 crore

Women workforce participation rate in tech sector to reach 14.9% by 2027

Women to drive India's tech industry growth with a demographic shift of skilled professionals. Increasing diversity and rising opportunities for women in the industry will fuel the transformation

Govt taps MSMEs, startups for defence tech, sanctions Rs 1,264 cr projects

India's transformation into a defence tech hub is being driven by initiatives to promote innovation, self-reliance, and collaboration among startups, MSMEs, and academia

Big tech's bloodbath: 150,000 jobs cut as market shifts shake industry

In 2024, nearly 150,000 workers across major tech companies, including Tesla, Intel, Microsoft, and Cisco, are facing layoffs as these giants restructure and adapt to challenging economic conditions

Rapido cuts losses from Rs 675 cr to Rs 370 cr in FY24, revenue rises 46%

Ride-hailing platform Rapido has reported narrowing of losses to Rs 370 crore in FY24 from Rs 675 crore a year earlier. This is the third consecutive year the Bengaluru-based unicorn has posted a loss. It incurred a loss of Rs 440 crore in FY22, the company said in a statement. The company's revenue came in at Rs 648 crore in FY24, up 46.3 per cent from Rs 443 crore in FY23. "Last year's performance is underscored by a ~2x increase in Gross Order Value (GOV), which soared to Rs 4,257 crore in FY24 from Rs 2,419 crore in FY23, further demonstrating the platform's expanding market presence. This growth was fuelled by a 1.5x rise in ride orders, reaching nearly half a billion rides in FY24, underscoring Rapido's increasing appeal among India's vast commuter base," the statement said. In the July-September period of FY25, Rapido shrunk losses to Rs 17 crore from Rs 74 crore a year ago. The company reported a 2.5 times year-on-year growth in gross order value (GOV) to Rs 2,461 crore du

TCS expands partnership to transform Primark's tech operations over 5 years

TCS will help Primark adopt a more agile and product-based operating model by enabling automation through intelligent automation and DevOps technologies

Weak business driving TCS, Infosys and Cognizant to cut travel costs by 50%

A recent American Express survey found that one of the factors hindering a complete recovery of business travel post-Covid is the increasing prevalence of virtual meetings and events

Tech transforms CIO roles into CDIOs; over 33% rise in hiring, study claims

There has been a 33 per cent increase in the hiring and the creation of posts of chief digital and information officers (CDIOs) in the recent past following rapid advancements in technology, according to a study. The spike has been triggered by the transformation of the roles of chief information officers (CIOs) into those of CDIOs, it said. The study is based on WalkWater's analysis drawn from a survey among profiles of 310 CIOs and CDIOs across 272 companies. In the landscape of modern business, the role of CIOs has undergone a profound evolution, transforming into what is now widely recognised as the CDIO, a study by executive search firms WalkWater Talent Advisors has revealed. "One in three companies studied has recently established or filled the CDIO role, underscoring its growing importance in today's business landscape," the study added. It noted that the emergence of CDIOs signifies a shift towards not just managing technology but strategically leveraging it to drive busi