Adani Group, Zepto, Nvidia, Apple, Prime Video, Ola, Patanjali, Meta, Youtube, etc.

Author

Vaishali Sharma
March 20, 2024

Adani Group Faces U.S. Scrutiny, Denies Corruption Links

  • Adani Green Energy is aware of a U.S. probe into a third party for potential anti-corruption violations but denies any connection with the entity.

  • Bloomberg News hinted at an investigation into possible illicit payments by an Adani Group entity or affiliates for favorable treatment in an energy project.

  • Adani Green has not been approached by the U.S. Department of Justice and cannot comment on the investigation's extent.

  • No responses were received from either Adani or Azure Power Global regarding the allegations.

  • Adani Group companies refuted the allegations, considering them baseless.

  • JP Morgan analysts anticipate minimal impact from the probe on the Adani Group.

  • Adani Green's stock dropped 2.6% in line with the broader market downturn.

Meet Blackwell: Nvidia’s Bold Leap Forward in Artificial Intelligence

  • Nvidia announced a new generation of AI chips, Blackwell, with the first chip GB200, set to release later this year.

  • Nvidia’s market value and sales have surged since the AI boom, with significant investments from companies like Microsoft and Meta.

  • The Blackwell chips offer a substantial performance boost, aiming to support the training of larger and more complex AI models.

  • Nvidia introduced a new software, NIM, to help customers deploy AI more easily, marking a shift towards becoming a platform provider.

  • Blackwell represents a significant advancement, doubling down on AI capabilities, with plans for extensive cloud service partnerships for deployment.

Reverse Exodus: Indian Startups Pine Labs, Zepto, and Meesho Eye Homecoming for Better Valuations

  • Pine Labs and Zepto are in advanced stages of planning to move their headquarters back to India.

  • Pine Labs has approached regulatory bodies in Singapore and India for a cross-border merger.

  • Zepto is finalizing its application to relocate, aiming for tax efficiency.

  • Meesho is considering raising new funds to manage the tax expenses of moving back to India.

  • High taxes in the US or Singapore are a major concern for these companies considering relocation.

  • Indian public markets offer higher valuations, motivating companies to return.

  • Tax implications and the need for fresh funding are significant challenges in the relocation process.

Briefs, You Can’t Miss:

  1. India represents a unique investment story with minimal risks and significant potential, according to HSBC India's CEO.

  2. Top Audi leaders praise India's move towards electric vehicles and supportive import taxes.

  3. Hidden fees affect the majority of online banking users, study finds.

  4. Indian fintechs lead the way in QR payment technology, Visa's CEO acknowledges.

  5. 'Made in India' semiconductor chip set for end-2024 debut, according to IT Minister.

  6. Apple aims to increase iPhone market share in India by collaborating with various retailers.

  7. India's gas consumption to hit record high in FY24, forecasts CareEdge Ratings.

  8. Mumbai suburbs to get 8,500 EV chargers courtesy of Adani Electricity.

  9. NVIDIA's Asia South MD highlights India's compute infrastructure as below 2% of global levels.

  10. Prime Video eyes India for massive subscriber growth, aims for 250 million outside US.

  11. Ola Electric appoints ex-Byju’s executive Jitesh Shah for after-sales service leadership.

  12. In Patanjali ad controversy, SC demands personal appearance from Ramdev, Balkrishna; shares drop.

World Briefs

  • Coca-Cola out, PepsiCo in at Subway’s American locations. 

  • Telegram secures $330 million in new funding via bond sales.

  • Threads by Meta launches trending topics in the US, reaching all users.

  • Nvidia and Qualcomm enter partnership with Open Source Robotics Alliance to advance ROS.

  • Meta announces potential 40% monthly fee reduction for Facebook and Instagram subscriptions.

AI Briefs

  • Jensen Huang of Nvidia optimistic on solving AI hallucinations, sees AGI in 5 years.

  • YouTube mandates disclosure of AI-generated content by creators.

  • Truecaller integrates AI to enhance spam call detection and blocking.

  • DeepMind co-founder Suleyman joins Microsoft to head Consumer AI efforts.