• amazon anthropic investment: Amazon invests $2.75 billion in ChatGPT-rival Anthropic, takes total investment t

    Amazon said on Wednesday that it had added $2.75 billion to its investment in Anthropic, a start-up that competes with companies like OpenAI and Google in the race to build cutting-edge AI systems.The investment comes six months after Amazon invested $1.25 billion in Anthropic, making the San Francisco start-up Amazon’s most important AI partner. Amazon said at the time that it had the option to bring its total investment to $4 billion. It had until the end of March to do so, according to...

  • indian gaming market revenue: Indian gaming market revenue may double to $6 billion by 2028: report

    India is the fastest-growing mobile gaming market and the annual revenue of the overall Indian gaming industry is expected to almost double to $6 billion by 2028 from $3.1 billion in 2023, a joint report by Interactive Entertainment and Innovation Council and online gaming firm Winzo said on Wednesday. The India Gaming Report 2024 based on Interactive Entertainment and Innovation Council (IEIC) analysis and secondary data, projects paying gamers to reach 240 million by 2028 from 144 million paid...

  • Google blocked or removed over 5.5 billion ads in 2023

    Search giant Google on Wednesday said it blocked or removed over 5.5 billion ads in 2023 and 12.7 million advertiser accounts, nearly double from the previous year.The data was released as part of its annual Ads Safety Report wherein it shared that it had also blocked or removed over 1 billion advertisements for violating its policy against abusing the ad network, which includes promoting malware. The fight against scam ads is an ongoing effort, as we see bad actors operating with more...

  • AWS, EkStep Foundation partner to develop digital public goods

    Amazon Web Services (AWS) India on Tuesday announced its collaboration with EkStep Foundation, a non-profit organisation in Bengaluru. The two organisations have established a Joint Innovation Center (JIC) to develop digital solutions for public service delivery such as digital public goods (DPGs) and digital public infrastructures (DPIs). Modular Open Source Identity Platform (MOSIP), a global DPG developed for issuing trusted foundational identifications, currently at different stages of...

  • Zoomcar aims to onboard more cars on supply side via third-party tie-ups

    Car rental firm Zoomcar is enhancing incentives for its hosts through third-party deals to meet demand-supply challenges and drive growth in the car-sharing marketplace, CEO and cofounder Greg Moran said.“We are leveraging the current profitability that we have at a gross profit level and at a booking contribution level to kind of use that to reinvest into core platform growth in terms of volumes and in terms of awareness, particularly in the host side,” Moran told ET in an interaction.“If we...

  • Ebitda positive for last two quarters, says Myntra

    Fashion e-commerce platform Myntra said it has been on a strong growth trajectory since the second half of 2023 and has remained EBITDA positive for the last two quarters. The online marketplace in a blog post said it has been growing notably faster than the online fashion market since the second half of CY2023, with GMV (gross merchandise value) growth nearing two times (2x) of the market during the recent festive season. Integral to this market-leading growth has been a 33 per cent surge in...

  • Chinese EV maker BYD targets 20% jump in annual sales

    Chinese electric vehicle maker BYD has set a 3.6- million-unit sales target for 2024, a jump of 20% from its record-breaking sales last year, according to three people who were familiar with the matter. The world's largest EV manufacturer aims to sell 500,000 vehicles overseas this year, more than double last year's total, and one million units in 2025, Chairman Wang Chuanfu told a BYD investor meeting on Wednesday, the sources said. They declined to be named as the meeting was not open to the...

  • Portugal orders Sam Altman's Worldcoin to halt data collection

    Portugal's data regulator has ordered Sam Altman's iris-scanning project Worldcoin to stop collecting biometric data for 90 days, it said on Tuesday, in the latest regulatory blow to a venture that has raised privacy concerns in multiple countries. Worldcoin encourages people to have their faces scanned by its orb devices, in exchange for a digital ID and free cryptocurrency. More than 4.5 million people in 120 countries have signed up, according to Worldcoin's website. Portugal's data...

  • US charges KuCoin crypto exchange with anti-money laundering failures

    Federal prosecutors in Manhattan on Tuesday charged KuCoin, one of the world's largest cryptocurrency exchanges, with violating US anti-money laundering laws by failing to vet customers, allowing billions of dollars in illicit funds to be transferred since its founding in 2017. Prosecutors said the Seychelles-based exchange sought business from US customers without registering with the Treasury Department and putting in place procedures to verify clients' identities as required by US law. KuCoin...

  • HSBC setting up $1 billion growth fund to scale digital platform businesses in Southeast Asia

    HSBC on Wednesday said it is setting up a $1 billion growth fund called ASEAN Growth Fund that provides lending to companies that are scaling up via digital platforms across Southeast Asia. The London-headquartered bank is tapping into Southeast Asia's digital economy, which it said is among the world's fastest growing, expecting it to hit $600 billion in value by the end of the decade from $218 billion last year. With a working population that is digitally native, increasing in size, and...

  • No risk of contagion from first cyberattack to Vietnam market: regulator

    Financial institutions are not at risk from the first cyberattack on a Vietnamese brokerage, the market regulator said on Wednesday, after the third largest securities firm was suspended after it was targeted over the weekend. VNDirect, Vietnam's third largest broker in terms of transactions handled according to the Ho Chi Minh City exchange, has been disconnected from the trading system since Monday. We do not see risk of contagion, Pham Hong Son, the vice chairman of Vietnam's State...

  • Meta oversight board urges company to end ban on Arabic word 'shaheed'

    Meta's oversight board on Tuesday called on the company to end its blanket ban on a common usage of the Arabic word shaheed, or martyr in English, after a year-long review found the Facebook owner's approach was overbroad and had unnecessarily suppressed the speech of millions of users. The board, which is funded by Meta but operates independently, said the social media giant should remove posts containing the word shaheed only when they are linked to clear signs of violence or if they...