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Cohere, a Toronto-based startup developing artificial intelligence for businesses, is in discussions with investors to raise capital in the ballpark of $500 million to $1 billion, a person with knowledge of the matter told Reuters Friday.

Modi was speaking after inaugurating the Boeing India Engineering and Technology Centre near the international airport in Bengaluru. The 43-acre campus, built with an investment of Rs 1,600 crore, is Boeings largest such facility outside the US and will help develop next-generation products and services for the global aerospace and defence industry.

With elections due in countries representing half the worlds population and new technologies turbo-charging disinformation, 2024 will be a major stress test for politics in the age of AI. 2024 has been labelled a "make-or-break" year for democracy, with crucial votes due in more than 60 countries, including India, South Africa, Pakistan, Britain, Indonesia and the United States, as well as the European Union. The first major test of how to survive an onslaught of AI-powered disinforma...

Paytms revenue from operations for the December quarter increased 38% to Rs 2,850.5 crore. Paytm said the increase in revenue was on the back of accelerated growth in gross merchandise value, payments device additions and an expansion in the financial services business.

The company said the job cuts, which affect 19% 0r 1,650 of its corporate employees, would lead to annual cost savings of $280 million.

Previously, Srinivas Satya was the former president and managing director of Applied Materials India for eight years. Tata Electronics said he brings extensive experience in managing large organizations and delivering strong business growth in the electronics industry.

Altman has had conversations with several large potential investors in the hopes of raising the vast sums needed for chip fabrication plants, or fabs, as theyre known colloquially, said the people, who requested anonymity because the conversations are private.

Applied Materials confirmed Satyas exit and said Satheesh Kuppurao, Vice President of Business Development and Growth, will serve as the Country President on an interim basis.

Alt Mobility will use the fresh capital for hiring engineering team to scale its Electric Vehicle (EV) asset management platform FleetOS, it added.

The four-hour discussion with Piyush Goyal focused on the growth trajectory of the Indian startup ecosystem, the role of domestic capital in nurturing and scaling startups and Indias position in the international startup landscape.