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In most aggressive phase of India expansion; here for long-term market wins: Amazon India head
Amazon is in its most aggressive expansion phase in India, with plans to invest $35 billion by 2030 on top of the $40 billion already committed, India head Samir Kumar said. The company is ramping up investments in e-commerce, AI, exports and quick commerce through Amazon Now, while targeting 100 cities and 1,000 micro-fulfilment centres.
Amazon to expand automation use in inventory management at India fulfilment centres
In an interview with PTI, Amazon Robotics Chief Technologist Tye Brady said the company already uses several automation solutions in its Indian fulfilment network and remains committed to investing in the market, where it has announced significant long-term capital commitments.
Two phones and an app: How Russians skirt Putin's digital iron curtain
Since the Kremlin ratcheted up control over the internet this year, Russians have been turning to increasingly convoluted technical solutions to circumvent state monitoring and restrictions on popular foreign apps like Meta Platforms' WhatsApp and the Telegram messenger.
SpaceX becomes world's 7th most valuable company after blockbuster market debut
SpaceX’s record-breaking IPO debut lifted its valuation above $2 trillion, making it one of the world’s most valuable companies. Strong investor demand, heavy trading volumes and retail enthusiasm boosted Elon Musk’s fortune, despite the company remaining loss-making and heavily growth-driven.
Elon Musk net worth tops combined wealth of next 4 billionaires after historic SpaceX debut
SpaceX’s blockbuster stock market debut propelled Elon Musk’s net worth above $1 trillion for the first time. Strong investor demand pushed the company’s valuation past $2 trillion, cementing Musk’s position as the world’s richest individual by a wide margin.
US stocks: SpaceX shares close 19% higher in historic market debut, value surges past $2 trillion
SpaceX's Nasdaq debut shattered expectations, soaring past $2 trillion and becoming the sixth-largest U.S. company. Investors, from institutions to retail fans, celebrated the record-breaking IPO, which raised $75 billion. Despite a reported loss last year, the company's ambitious vision and market opportunity captivated the market, with shares closing up 19%.
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What Elon Musk's trillion would mean in real terms
Elon Musk is poised to become the world's first trillionaire. This unprecedented wealth accumulation follows the market debut of his company SpaceX. The article highlights the immense scale of a trillion dollars. It compares this sum to global economic indicators and everyday purchases. This development underscores a growing wealth gap.
Lenskart block deal; Meesho's kirana push
Lenskart has drawn fresh interest from major institutional investors. This and more in today's ETtech Top 5.
Anthropic vs OpenAI: Behind the bitter battle for the future of AI
The fierce competition between Anthropic and OpenAI is accelerating AI advancements and driving a race towards blockbuster IPOs. This rivalry is shaping investor perceptions and establishing key leaders in the AI space. The companies are also clashing over financial reporting methods, with OpenAI questioning Anthropic's revenue recognition.
Europe is finally, slowly getting its act together
Europe stands on the brink of a pivotal transformation, launching a set of ambitious reforms aimed at revitalizing its economy and global footprint. By strategically pushing for the expansion of major banks, tech giants, and defense sectors, the European Union is determined to avoid the pitfalls of a second-tier economy.
US stocks: US market indexes fall over 1%, dragged by tech and Iran war worries
Major US stock markets experienced a significant drop on Wednesday. Chipmaker stocks continued their decline, while new tensions between the US and Iran added to investor worries. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all saw substantial losses. Investors are also considering potential interest rate hikes and taking profits in the tech sector.
'The Donald of Dubai': UAE billionaire close to Trump bets $66 billion on AI to become the world's data king
UAE real estate magnate Hussain Sajwani is investing billions in data centers to capitalize on the AI boom, aiming for global leadership. His company, DAMAC Digital, has secured sites in 13 countries and plans to build 6,000 megawatts of capacity, costing $66 billion.
US Stocks: US markets dips as tech declines, Middle East tensions mount
U.S. stock indexes opened lower on Wednesday, continuing a selloff in technology stocks. Renewed U.S.-Iran tensions also weighed on the market, overshadowing a tame May inflation reading. The Dow, S&P 500, and Nasdaq all saw declines at the opening bell.
Where Zepto stands in q-comm; H-1B relief kicks in
Happy Wednesday! Zepto's IPO filing reveals where it really stands against Blinkit and Instamart. This and more in today’s ETtech Morning Dispatch.
Zepto's market position; TCS' AI verdict at AGM
Zepto pulls ahead of Swiggy Instamart on orders, but heavy burn continues. This and more in today's ETtech Top 5.
Michael released on OTT but there is a catch: Where to watch the superhit biopic based on the music legend
Michael, the blockbuster biopic based on the life of Michael Jackson, has finally arrived on OTT platforms after a hugely successful theatrical run. Starring Jaafar Jackson in the lead role and directed by Antoine Fuqua, the film is now available on BookMyShow Stream, Amazon Prime Video and Apple TV. However, there is a catch, viewers currently need to rent or purchase the movie, as it is not yet included with a subscription streaming plan.
Customers will feast as Zepto to pour fuel into quick commerce fire
Zepto’s proposed Rs 9,500 cr ($1 billion) IPO could significantly intensify competition in India’s already crowded quick commerce market. The company, which is targeting a July listing, plans to use the fresh capital to expand dark stores, invest in technology, and acquire more customers.
Here to win quick commerce, will become market leader in near-term: Samir Kumar, Amazon India chief
Amazon is planning to aggressively expand its 10-minute delivery service, Amazon Now, aiming for market leadership despite moderating quick commerce growth. The ecommerce giant plans to launch in over 100 cities with 1,000 dark stores, emphasising customer experience, wide selection, and speed to compete with rivals like Blinkit and Zepto.
Kuku FM readies public market debut; SoftBank books Lenskart gains
Kuku FM's parent has taken the first step towards a stock market listing. This and more in today's ETtech Top 5.
Amazon unveils upgraded autonomous robot Proteus, expands Amazon Now in UK
Amazon unveiled its next-generation autonomous robot, Proteus, designed to automate heavy lifting tasks and respond to natural language commands. This advancement is part of a significant €10 billion investment to enhance European fulfillment operations and expand its 30-minute delivery service, Amazon Now, to more UK cities.
Indian corporations poised to become large brand owners in US: Oyo founder Ritesh Agarwal
Indian companies are poised to become significant brand owners in the United States. This shift will enhance India's global influence beyond Bollywood and IT. Technology is a key driver for this expansion. Ritesh Agarwal, founder of Oyo-parent firm PRISM, believes India's moment has arrived. Indian brands will soon be used and appreciated by American consumers.
Why Amazon has struggled to crack India
Amazon's India strategy is changing: under new leadership, the company is focusing on profitability over rapid growth. This shift comes as local competitors like Flipkart and Reliance Retail gain significant ground. Amazon faces challenges adapting to India's market complexities and regulatory environment. The company is re-evaluating its investments and operational approach in the country.
Claude, other AI tools used to breach CBSE portals: IIT Panel
AI tools like Claude were used to find vulnerabilities in CBSE's on-screen marking portal, revealing the vendor's inadequate security knowledge. Following this, data was moved to a government-controlled AWS segment. A high-level panel addressed these issues and also secured the JEE Advanced portal amid concerns of data breaches.
Wipro CEO Pallia takes home Rs 49.6 crore in FY26
Wipro CEO Srinivas Pallia's compensation decreased to $5.29 million in FY26, while executive chairman Rishad A Premji earned $773,213. The company's FY26 revenue saw a modest increase, with a focus on AI and strategic acquisitions to drive future growth amidst cautious client spending.
‘IPL is done, get back to business’: Why Uday Kotak thinks Google’s $80 billion raise is a wake-up call for India Inc
Banking doyen Uday Kotak has urged Indian companies to invest in the future, calling Alphabet's $80 billion fundraise a wake-up call. He emphasized shifting focus back to business building now that the IPL has concluded. Kotak highlighted that even profitable tech giants like Alphabet continue to invest heavily in long-term innovation, stressing the need for Indian firms to avoid complacency.
PM Modi’s high stakes push for sovereign AI faces reality check
India is striving to build its own artificial intelligence capabilities, aiming for self-reliance and global export. However, the nation faces significant challenges including underinvestment in computing power and a late start in advanced AI model development. This ambition is crucial for technological independence as global powers leverage AI for geopolitical advantage.
Oyo readies market debut; IT's comeback rally
Oyo's IPO plans are back on track after securing the regulator's nod. This and more in today's ETtech Top 5.
Amazon's Ring sued over facial recognition feature, latest privacy concern for doorbell maker
A Virginia resident is suing Amazon for privacy violations, alleging its Ring doorbell cameras, specifically the "Familiar Faces" feature, collect and store facial recognition data of passersby without consent. The class-action lawsuit seeks at least $5 million in damages, highlighting ongoing privacy concerns surrounding Ring's technology and its partnerships.
Amazon Music widens India play beyond Prime amid audio streaming shakeout
In an exciting development, Amazon Music is set to unveil a new strategic initiative in India, offering a trio of subscription options: free, Prime, and unlimited. By doing so, the platform aims to establish a robust presence in the rapidly expanding audio landscape of the country, targeting an impressive goal of 100 million paid subscribers in the upcoming ten years.
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