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TechCrunch
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Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions
- xAI, Elon Musk’s AI firm, has raised $6 billion, bringing total raised to $12 billion, thereby adding to the $6 billion tranche xAI raised this spring.
- Andreesen Horowitz, Blackrock, Fidelity, Kingdom Holdings, Lightspeed, MGX, Morgan Stanley, OIA, QIA, Sequoia Capital, Valor Equity Partners, Vy Capital, Nvidia, AMD, and others were among the investors.
- The new cash injection will fuel xAI greater AI ambitions and according to reports the company was aiming for a $50 billion valuation, double its valuation of six months prior.
- Grok, a flagship generative AI model, now powers a number of features on the Twitter-owned social network X.
- Musk formed xAI last year and said that xAI’s data gives it a leg up compared to rivals, and this allows Musk's models to be trained on data from companies such as Tesla and SpaceX.
- Despite objections from Tesla shareholders, the deals have driven xAI’s revenue to around $100 million a year.
- Reports indicate that Grok may handle even more X functions in the future, from enhancing X’s search capabilities and account bios to helping with post analytics and reply settings.
- AI venture capital activity soared to $31.1 billion across over 2,000 deals in Q3 2024, driven by megadeals such as OpenAI’s $6.6 billion fundraise and Amazon-backed AI firm Anthropic’s recent $4 billion funding.
- xAI has outlined a vision according to which its models would be trained on data from Musk’s various companies, including Tesla and SpaceX, and improve technology across those companies.
- xAI has told investors it plans to raise more money next year.
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Bloomberg Quint
1d
19
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TVS Emerald Acquires 12-Acre Plot With Rs 2,800-Crore Revenue Potential In Chennai
- TVS Emerald has acquired a 12-acre land parcel in Chennai.
- The land plot has a development potential of 2.5 million square feet.
- The estimated revenue potential of the land is Rs 2,800 crore.
- This marks the third land acquisition by TVS Emerald in FY25.
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Bloomberg Quint
1d
118
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Midnight Munchies: India's Favourite Late Night Swiggy Orders In 2024
- The chicken roll was the most ordered snack on Swiggy in 2024, with 2.48 million orders.
- Dinner was the most ordered meal, with 215 million orders, surpassing lunch orders.
- Choco lava cake was the top dessert with 3.6 million orders.
- A Delhi user ordered 250 onion pizzas in a single order, making them the hungriest customer at night.
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Bloomberg Quint
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371
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Who Votes On US Fed Policy Next Year Is Changing. Here’s What To Know
- New voters are set to rotate onto the Federal Reserve’s interest-rate-setting committee in 2025.
- The Federal Open Market Committee comprises of a rotating cast of presidents from 11 of the regional Fed banks, along with seven Fed governors and the president of the New York Fed.
- The key question facing the new voters and the committee is how quickly policymakers should lower rates still above the central bank’s 2% target.
- The debate could be complicated by a slew of potential policy changes from President-elect Donald Trump.
- Fed Governor Michelle Bowman voted against September’s decision to lower rates by a half percentage point, preferring a smaller cut.
- Should the policy questions raise additional dissents, it wouldn’t necessarily be a bad thing, said Don Kohn, a senior fellow at the Brookings Institution and a former Fed vice-chair.
- Jeff Schmid, the Kansas City Fed president, has emphasized that there is uncertainty over where interest rates will ultimately settle.
- In 2025, Susan Collins of Boston, Alberto Musalem of St. Louis, Jeff Schmid of Kansas City and Austan Goolsbee of Chicago will rotate onto the committee.
- It is expected that Austan Goolsbee and Susan Collins will support additional policy easing.
- Alberto Musalem, the St. Louis Fed president, has supported a patient approach to rate cuts.
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Bloomberg Quint
1d
257
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Kalyani Investment Settles Disclosure Norm Violation With SEBI For Rs 1.12 Crore
- Kalyani Investment Co., a promoter group entity of Bharat Forge, has reached a settlement with SEBI regarding an alleged breach of disclosure norms by paying a settlement fee of Rs 1.12 crore.
- The settlement was reached after Kalyani Investment proposed to resolve the ongoing proceedings initiated against it, without admitting or denying the facts and legal conclusions, in accordance with SEBI's settlement regulations.
- SEBI initiated adjudication proceedings against Kalyani Investment for the alleged violation of Securities Contracts (Regulation) Act rules and disclosure norms.
- Following the submission of the settlement application, Kalyani Investment agreed to pay Rs 1.12 crore as settlement charges, which were approved by SEBI's High Powered Advisory Committee.
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Bloomberg Quint
1d
72
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Amaravati Capital Project: Andhra Government Approves Roadworks Worth Rs 2,723 Crore
- The Andhra Pradesh government has approved road infrastructure works worth Rs 2,723 crore in greenfield capital Amaravati.
- The funds will be utilized for building layout roads in Amaravati zone – 7 and 10.
- Approval for some of the remaining works will be given within this month.
- The state government will repay the loans taken for Amaravati by selling the land pooled for the greenfield capital city from farmers.
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Bloomberg Quint
1d
283
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ReNew Inks $176-Million Deal With Anzen To Sell 300 MW Solar Asset In Rajasthan
- ReNew Energy Global Plc. has signed a $176 million deal to sell its 300 MW solar asset in Rajasthan to Anzen India Energy Yield Plus Trust.
- ReNew Sun Waves Pvt., a wholly owned subsidiary of ReNew Energy, will sell its stake and economic interest in the operating solar asset.
- The deal is subject to completion of contractual obligations, including lender approval.
- The 300 MW solar project has been operational for three years and the power purchase agreement is priced at Rs 2.55/unit.
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Bloomberg Quint
1d
203
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Wall Street Sides With Federal Reserve And Sees Lower US Bond Yields In 2025
- Wall Street is aligned with the Federal Reserve, anticipating short-term US Treasury yields to fall in 2025 despite Donald Trump’s trade and tax policies.
- Most strategists expect a drop in the two-year Treasury note’s yield due to the Federal Reserve’s interest-rate policy.
- They predict a decline of at least 0.5% from current levels within the next year.
- A JPMorgan Asset Management team led by David Kelly stated that "the Fed is still in cutting mode in 2025".
- Furthermore, the Federal Reserve signaling fewer rate cuts next year at its meeting this month could complicate the bond yields path.
- The median forecast amongst 12 strategists is for the yield on two-year notes to fall 50 basis points to 3.75% a year from now.
- Strategists predict the 10-year note’s yield, trading around 4.52% on Friday, will end 2025 at 4.25%.
- This is a decrease of 25 basis points compared to current levels.
- Trump’s upcoming tariff and tax policies could have an impact on the bond yields forecasts.
- For instance, higher tariffs and tighter immigration controls could lead to slower growth but higher inflation.
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Bloomberg Quint
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122
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Swiss Firm Terminal Investment To Invest Rs 20,000 Crore To Develop Vadhvan Port
- Switzerland-based Terminal Investment Ltd. Sarl has proposed an investment of approximately Rs 20,000 crore for the development of Vadhvan Port in Maharashtra.
- The Vadhvan Port is being developed by Vadhvan Port Project Ltd. with a total investment of Rs 76,200 crore.
- Jawaharlal Nehru Port Authority has signed a memorandum of understanding with Terminal Investment Ltd. Sarl for the development of Vadhvan Port.
- The partnership aims to create a world-class, future-ready port facility and set new benchmarks in efficiency and innovation.
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Bloomberg Quint
1d
352
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TRAI Revises Tariff Rules, Mandates Separate Plans For Voice And SMS
- TRAI has revised its tariff regulations, mandating mobile operators to offer separate voice and SMS plans for customers not using data.
- The move aims to ensure more tailored services for users and make it easier for consumers to pay for services they generally use.
- The regulatory authority believes that separate special tariff vouchers for voice and SMS, alongside existing data-only plans, should be mandatory.
- The regulator has also permitted telecom operators to offer recharge vouchers of any value, with a minimum recharge coupon worth Rs 10.
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Pymnts
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372
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Beyond the Buzzword: Why Really Big Data Still Matters
- Big data refers to large and complex datasets that traditional methods can't handle.
- Big data revolutionizes industries such as healthcare, weather forecasting, financial markets, shipping, and logistics.
- Challenges of big data include data quality, privacy and security concerns, and the need for specialized tools and infrastructure.
- Big data's impact is crucial for modern research, business operations, and public services as organizations handle ever-larger datasets.
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Bloomberg Quint
1d
53
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Here Are Cities That Dined Out Most In 2024
- People from Delhi, Bengaluru, Hyderabad, Mumbai, and Pune dined out the most in 2024, according to a report by Swiggy.
- Between Jan. 1, 2024 and Nov. 22, 2024, Swiggy's 'Dineout' offers helped 22 million diners save a total of Rs 533 crore.
- The average savings per order for Swiggy users in 2024 was Rs 708, compared to Rs 672 in 2023.
- Delhiites were able to save a total of Rs 121 crore while dining out at restaurants suggested by the Swiggy app.
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Bloomberg Quint
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107
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Buy, Sell Or Hold: Tata Motors, LIC, SBI, Cipla, Swiggy, NTPC—Ask Profit
- Market analysts share insights for short-term and long-term investors on whether to buy, sell or hold shares of Swiggy, Vishal Mega Mart and Cipla, among others.
- Mazagon Dock Shipbuilders: Chowdhury suggests holding the stock for the long term, while Jain recommends buying shares as they are consolidating.
- Vishal Mega Mart: Chowdhury advises holding the stock for the long term, considering its focus on affordable retailing and expansion plans.
- LIC: Chowdhury advises selling shares and avoiding the insurance sector for now, suggesting HDFC Life as a better option.
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Bloomberg Quint
1d
119
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Greaves Electricity Mobility IPO: SEBI Filing Reveals Rs 1,000 Crore Fresh Issue Plan
- Greaves Electricity Mobility has filed its preliminary papers with SEBI for an IPO to raise up to Rs 1,000 crore.
- The IPO includes a fresh issue of Rs 100 crore and an offer for sale of up to 18.9 crore shares.
- The funds raised will be used for technology development, manufacturing expansion, and in-house battery assembly.
- Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd., and JM Financial Ltd. are the book-running lead managers for the IPO.
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Bloomberg Quint
1d
30
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Asian Development Bank To Provide $500 Million Loan For Green Infrastructure Projects
- Asian Development Bank will provide a $500 million loan to support green infrastructure projects in India.
- The loan will be extended to the India Infrastructure Finance Co. and will focus on connectivity, energy transition, urban projects, education, and healthcare.
- The project aims to integrate green and sustainable practices into infrastructure projects, establish a sustainability unit, and develop an environmental sustainability framework.
- ADB has committed a total of $55.3 billion to India through various loans and grants.
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