Page 3 - Tech Prowess News Today

Facing a cautious market and clients tightening their purse strings, IT companies are adopting a strategy from startups and web commerce: creating a new C-suite role – the chief growth officer (CGO).

Apple on Monday will attempt to persuade doubters on its AI strategy after rivals raced ahead in adopting artificial intelligence. ChatGPT-style AI voraciously feeds off data and Apple will be at pains to fight the AI race while living up to its traditional position on safeguarding data privacy.

Ahmedabads Hocco has secured fresh funding of Rs 100 crore (approximately $12 million). Led by the founding Chona family and existing investor Sauce VC, the round valued Hocco at Rs 600 crore. The deal also attracted angel investors like Bollywood filmmakers Ritesh Sidhwani and Farhan Akhtar. The company projects revenue to reach Rs 200 crore by March 2025.

A Vienna-based privacy group filed complaints against Meta in 11 European countries over unlawful AI data use. Microsoft announced a $3.2 billion AI investment in Sweden over two years, AMD unveiled new AI chips to challenge Nvidia, and Cisco plans a $1 billion investment in AI startups for secure AI services.

Data centers in western and northern India are facing rising operational costs due to soaring temperatures. Firms like Yotta and CtrlS are using alternative cooling methods and renewable energy, while ESDS reports a 10-12% rise in power costs due to erratic grid supply. Several of these data centres are located in New Delhi, Haryana, Noida.

Walmarts Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmarts executive, Dan Bartlett.

Multiple new-age companies looking to go public are seeking counsel on their next moves in response to the stock market volatility following the general election results on Tuesday. These companies are looking for advice on the timing of their public listings even as they remain confident about Indias macroeconomic prospects, founders, investors and investment bankers told us.

“From WhatsApps perspective, a core principle we follow is that anything has to be reliable and private. Anything that invades our privacy does not have any space on the platform. Our expectation from the businesses is that they have explicit permission before they reach out (to users),” Nikila Srinivasan, the companys vice president of business messaging, told ET.

Online scamsters are using the viral ‘All Eyes on Rafah campaign as an opportunity to dupe people who want to lend a helping hand or donate to victims of the war in Gaza. The most common scams related to Gaza include fake websites, fake cryptocurrency links, phishing emails, fake video links, and social media scams.

Nvidias stock price has more than doubled this year and its now the third most valuable company in the S&P 500. The company is also about to undergo a stock split and has seen soaring demand for its semiconductors.