Business

Luma AI Scores $900 Million to Build Next-Gen Multimodal AGI — Could This Be the Future of Humanity?

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Luma AI Lands $900 Million in Massive Funding Round AI startup Luma AI, which is developing multimodal artificial general intelligence (AGI), has raised an astonishing $900 million in a funding round led by Saudi Arabia-based HUMAIN. The investment is set to supercharge Luma AI’s mission to create systems capable of learning from a quadrillion tokens of information — the equivalent of…
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Startup

This New VC Fund Just Raised Rs 100 Crore — And It’s Coming for India’s Next Big Tech Unicorns

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A New Player in Indian Venture Capital Makes a Bold Entry India’s booming startup ecosystem just got a fresh shot of fuel. Kriscore Capital, a newly launched venture capital firm focused on early-stage technology startups, has announced the first close of its debut fund at Rs 100 crore, with an additional Rs 100 crore earmarked through a greenshoe option. With this launch, Kriscore joins the…
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BusinessNews

Swiggy Valued at $11.5 Billion by 360 One WAM Ahead of $1.25 Billion IPO

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Swiggy, the leading food delivery platform based in Bengaluru, has been valued at $11.5 billion by investor 360 One WAM, according to a recent investor presentation seen by ET. This valuation comes as Swiggy prepares to go public through a significant $1.25 billion IPO process. In the first half of fiscal 2024, Swiggy reported impressive revenues of INR 7,474 crore. This financial performance…
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BusinessNews

Lenovo’s Q1 Revenue Surges 20%, Exceeds Expectations as PC Market Rebounds

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Lenovo Group reported a robust 20% increase in quarterly revenue for the period ending June, reaching $15.4 billion, surpassing analysts’ expectations of $14.1 billion. This marks Lenovo’s third consecutive quarter of revenue growth following a period of five straight declines due to the post-COVID slowdown. The global personal computer market has shown signs of recovery, with IDC reporting a…
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BusinessNews

Intel’s Missed Opportunity: How the Chip Giant Passed on OpenAI and Fell Behind in the AI Race

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In a decision that now appears prescient in hindsight, Intel, once a leading force in the computer industry, opted against investing in OpenAI, a move that has contributed to the chip giant’s struggle to stay relevant in the rapidly evolving AI sector. The choice not to back OpenAI has had significant repercussions, especially as the field of artificial intelligence has surged forward, fueled by…
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