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Net profit was $663 million in the same period a year earlier. However, sequentially, net profit gained by 2.1%. Despite the flat profit growth, revenue for the quarter grew 5.8% YoY to hit $5.4 billion, beating its own forecast for the quarter. On a constant currency basis, revenue for the quarter
Mutual funds increased their stakes in new-age companies during the March quarter, despite falling share prices and overall portfolio value declines. This move by domestic institutional investors comes as foreign investors divest Indian equities, with funds showing confidence in listed peers' long-t
Instant domestic help platforms like Urban Company, Snabbit, and Pronto are experiencing worker shortages. This is causing limited availability for users in Delhi-NCR, Mumbai, and Bengaluru. Demand is surging, but a lack of workers is disrupting services. Platforms are working to add more supply to
Tata Electronics has significantly expanded its workforce to 75,000, surpassing Foxconn and becoming Apple's largest contract manufacturer by headcount. This rapid growth, driven by its Hosur facility, highlights India's emergence as a key electronics manufacturing hub and Tata's strategic move towa
Meta Platforms is significantly increasing its investment in artificial intelligence infrastructure. This comes as the social media giant faces growing backlash from young users globally. The company also warns of potential impacts from legal and regulatory issues in the US and European Union.
Artificial intelligence firm Anthropic is exploring a new funding round. This round could value the company at over $900 billion. This valuation would make Anthropic the world's most valuable AI startup. The company is considering offers at more than double its current valuation. A decision on the r
Microsoft anticipates robust sales for its Azure cloud services. The tech giant is planning substantial capital expenditure for 2026. This comes as the race for AI dominance intensifies. Investors are watching closely for growth. Microsoft is also seeing a steady increase in users for its Copilot AI
Samsung Electronics posted a record quarterly profit on Thursday, driven by strong sales of chips crucial for artificial intelligence. South Korea's benchmark Kospi stock index opened at a fresh high of over 6,700 on Thursday following strong earnings figures from Samsung and US technology giants.
SoftBank Group is set to make waves in the U.S. technology landscape with its groundbreaking AI and robotics initiative, Roze. With an eye on reaching a staggering $100 billion valuation, the company plans to potentially go public this year. This ambitious strategy, helmed by CEO Masayoshi Son, aims
LinkedIn's new AI tools for recruiters are set to bring in a massive $450 million next year. These smart systems help find the best job candidates faster. Recruiters can now focus on important tasks, saving valuable time. This innovation highlights LinkedIn's commitment to solving real-world problem
Bengaluru's Oolka, a fintech startup, secured $14 million led by Accel, with Lightspeed and Z47 also participating. The funds will bolster AI-driven creditworthiness solutions and expand bank partnerships. Oolka aims to offer comprehensive personal finance management, including savings tools, to its
Qualcomm anticipates lower third-quarter earnings but sees a smartphone market rebound. The chip giant is also entering the data center market with new products. CEO Cristiano Amon is confident about future growth. This strategic shift aims to offset challenges in consumer electronics. Qualcomm's st
Australia's banking regulators, APRA, are sounding the alarm over escalating cyber threats. Advanced AI tools like Anthropic's Claude Mythos may equip hackers with unprecedented capabilities. Current cybersecurity measures within banks are trailing behind the swift evolution of AI, heightening the v
OpenAI is hosting an exclusive, invite-only event in San Francisco on May 5, coinciding with the launch of GPT-5.5. The "GPT-5.5 on 5/5" gathering aims to bring together developers and OpenAI team members for a "low-key meetup." This event follows the recent rollout of GPT-5.5, described as a "new c
Elon Musk is in court accusing OpenAI's lawyer of trying to trick him. The trial centers on Musk's lawsuit claiming OpenAI abandoned its mission to benefit the public. He alleges co-founder Sam Altman and others created a for-profit entity for personal gain. OpenAI argues Musk wants to control the c
Ola Electric Technologies faces a downgrade from ICRA due to declining sales, persistent losses, and delayed profitability. Despite efforts to improve unit economics, rising competition and subsidy rationalization have impacted demand and margins. The company's market share in the electric two-wheel
Elon Musk testified for a second day in his trial against OpenAI co-founder Sam Altman, accusing him of betraying promises to keep the AI company a nonprofit. Musk claims he lost confidence by late 2022, believing Altman was trying to "steal the charity." OpenAI lawyers deny these allegations, stati
