AI STARTUP HYPE
Brazil's Itau agrees to buy AI startup NeoSpace for $589 million
In a significant move to enhance its artificial intelligence capabilities, Brazilian lender Itau has agreed to acquire NeoSpace AI for 2.925 billion reals. This investment will be structured with an initial payment followed by a deferred balance over a period of five years. The partnership, which has lasted nearly two years, is still pending regulatory approval and other standard closing conditions, highlighting Itau's commitment to advancing its technological prowess.
OpenAI’s IPO dream may shatter with distress sale to MS
In a recent discussion, Gary Marcus raised critical flags about OpenAI's fiscal responsibilities as the stock market faces instability. He warned that the demise of leading AI firms could trigger extensive financial repercussions. Notably, Marcus compared the current climate to WeWork's disastrous decline, suggesting that Microsoft might pick up OpenAI at a bargain.
India’s healthcare AI opportunity could become the next big investment story
The digital rails are ready. India now needs patient capital and founders ambitious enough to build on them.
Too early to write India off in the global AI race: Andreessen Horowitz’s Raghu Raghuram
India has few frontier AI model companies and limited computing capacity, but according to a16z managing partner Raghu Raghuram, the country should not be written off. In an interview with ET, Raghuram said Indian startups could first build services on open-weight models before eventually developing their own.
VCs hungry for kitchen startups; Vala Afshar’s blueprint for India’s AI future
Happy Thursday! Venture capital investors are betting on the premiumisation wave wafting into Indian kitchens. This and more in today’s ETtech Morning Dispatch.
Global Market: China tightens scrutiny of humanoid robot IPOs amid valuation concerns
China is slowing humanoid-robot IPO plans as regulators scrutinise soaring valuations and government-linked revenue, pushing companies to demonstrate sustainable commercial demand and stronger evidence of real-world deployment.
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China slows humanoid robot IPO rush as hype outruns reality
Chinese regulators are putting the brakes on a rush of humanoid-robot companies seeking listings, people familiar with the matter said, as they scrutinise whether soaring valuations and revenue tied to state-backed projects reflect commercial demand.
Nvidia’s $500 billion plan envelops Wall Street in its AI frenzy
Nvidia has unveiled a major financing initiative aimed at supporting artificial intelligence chip acquisitions. By collaborating with prominent financial institutions, the plan seeks to provide substantial debt solutions tailored for AI startups. This multifaceted financing strategy is designed to address the skyrocketing demand for computing power, ultimately fostering the essential digital and AI infrastructure development needed in the tech industry.
Chinese AI drives price competition among US labs
A new generation of cost-efficient, high-performance Chinese AI is putting pressure on Silicon Valley's leading labs to lower prices to grab market share as they try and find ways to turn a profit. New Chinese AI models big and small, from Moonshot AI's Kimi K3 to Alibaba's popular Qwen series, are grabbing attention as challengers to Anthropic and OpenAI's lead.
'Stop putting AI everywhere': Gurugram startup founder's blunt take amid AI boom, say 90% founders don’t know what they are doing
Knot Dating CEO Jasveer Singh criticizes Indian founders for indiscriminately applying AI, stating many lack a grasp of the problem, user, or solution. He warns against 'lazy thinking,' where AI is a buzzword, not a tool. Singh emphasizes that AI's success hinges on clear problem definition, strong data, and understanding real-world scenarios, urging a focus on fundamentals before integrating technology.
AI startup valuations are overheated: First Round Capital cofounder Howard Morgan
Howard Morgan warns AI startup valuations are overheated, with many firms priced too high. He says “buy high, sell higher” works only in a bubble. He added that OpenAI looks overvalued, while Anthropic appears more focused. He was of the opinion that OpenAI would need years of strong earnings to justify its high valuation.
Atlan CEO Prukalpa Sankar warns founders against frothy VC markets amid AI hype
Atlan cofounder and CEO Prukalpa Sankar cautioned startup founders to be careful of the frothy venture capital (VC) markets fuelling the AI hype, and urged them to maintain sound capital strategies.
Many speculative models will collapse but those solving real problems will endure: Anthropic investor Lightspeed’s Ravi Mhatre on AI bubble
Venture capital firm Lightspeed acknowledges a current AI valuation bubble. However, they believe the underlying AI technology represents a significant, once-in-a-generation shift. Lightspeed is focused on identifying durable AI businesses that solve real problems. They anticipate substantial value creation over the next decade, potentially exceeding previous tech cycles. The firm is investing selectively in promising AI startups.
Global ambition crucial for success: AI investment panel at ET Soonicorns Summit
The panel consisted of Manav Garg, from venture capital firm Together, Rutvik Doshi of Athera Venture Partners, and Manish Singhal from pi Ventures. Sanjay Swamy of Prime Venture Partners was the moderator. The current AI investment environment requires both rapid decision-making and careful deliberation, said Garg.
ET Soonicorns Summit 2025: AI investments in Indian startup ecosystem—chasing hype or backing deal disruption?
At the ET Soonicorns Summit 2025 on 22 August in Bengaluru, leading VCs will explore whether India’s AI funding is strategically nurturing AI‑first, deep‑tech startups or simply riding a speculative wave. Register now to be in the room and position yourself at the forefront of India’s AI investment evolution.
Behind the term sheets: Prime, Lightspeed, Together, and pi Ventures take on the AI ‘hype vs real’ debate at ET Soonicorns Summit 2025
Where’s the smart money going in Indian AI? Expect sparks to fly on the ET Soonicorns Summit 2025 mainstage as some of India’s top VCs are set to set the record straight on AI investments in India. The one debate that could shape India’s next AI leaders. Mark the date: 22 August, Bengaluru. Register now!
AI firms chase engineers with 40 lakh to 1.5 crore pay, Esop, flexible operations
India's AI startups are in a hiring frenzy, offering top salaries, stock options, and flexible work. Driven by government support and global competition, demand for AI talent is soaring, reshaping hiring norms and fueling rapid recruitment growth.
Together Fund launches venture building programme to double down on AI-first founders
The startups that are chosen will be given funding of up to $1 million and a structured 12-week programme with a US immersion.
DeepSeek’s frugal model shows a more profitable, market-rewarding GenAIsolution than Tech-Bro AI
The generative AI ecosystem is seeing a major shift with the rise of Hangzhou-based DeepSeek, challenging US tech giants. DeepSeek's specialised and efficient AI models are pushing innovation, lowering costs, and promoting accessibility. However, the booming investment into AI raises concerns about a potential bubble similar to the late 1990s dotcom era.
Indian AI startups funding dips 10% to $125 million in July-September period
Indian AI startup funding dipped 10% this quarter and 50% year-on-year, reaching $125 million across 31 deals. While funding sizes shrank, deal volume surged, signaling sustained investor interest in AI's potential. Experts predict larger funding rounds will return in 2025 as market stability improves and AI startups demonstrate stronger ROI.
DevRev raises over $100 million in Series A, joins AI unicorn Club
The AI boom has reinvigorated venture capital funding, with investors making significant bets on AI startups in hopes of substantial returns from widespread AI adoption.
Is overhyped AI leading to an U.S. recession? Is it similar to previous tech bubbles?
Artificial Intelligence is here to stay, it may experience corrections but the underlying technology is going to shape the future. Whether it will induce a recession in the U.S is something we have to wait and watch.
Artificial intelligence not ‘hyped enough’: Microsoft’s Puneet Chandok
Speaking during a panel discussion with Haptik CEO Aakrit Vaish at the Mumbai Tech Week on Monday, Chandok emphasised the transformative impact AI could have on various aspects of daily life.
India a credible, unstoppable force: Microsoft country head Puneet Chandok
Speaking at the company's event on artificial intelligence, Chandok, who is the president at Microsoft India and South Asia, said 100 new startups are getting incorporated in the country every day.
About 61% of startup founders in India expect pace of hiring to remain the same or dip this year: InnoVen Capital Survey
Nearly 61% of Indian startup founders expect hiring to remain the same or decrease in 2024, according to InnoVen Capital's 'India Startup Outlook' report. The report also reveals that 24% of founders are open to hiring professional CEOs in the next 2-3 years. Gender diversity continues to be a challenge, with 75% of companies having less than 20% women in leadership roles.
CES-2024 is not the year of the AI gadget
Just a year after ChatGPT's launch in 2022, companies did not have enough time to translate the excitement of large language models into gadget form.
The new kid on the artificial intelligence block
India’s booming startup ecosystem is caught in a high-stakes race in the field of generative AI.
AI startup Synthesia gains unicorn status after Nvidia-backed fundraise
The startup's technology helps more than 50,000 businesses including Amazon.com in creating custom AI avatars used in instructional and corporate videos.
AI regulations should not apply to smaller startups: OpenAI CEO Sam Altman
"We have explicitly said there should be no regulation on smaller companies. The only regulation we have called for is on ourselves and people bigger," Altman said.
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