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Nvidia's pitch for sovereign AI resonates with EU leaders
Last week, the CEO of the artificial-intelligence chipmaker toured Europe's major capitals - London, Paris and Berlin - announcing a slew of projects and partnerships, while highlighting the lack of AI infrastructure in the region.
Meta finalises Scale AI deal, valuing startup at $29 billion; recruits its CEO for 'superintelligence' team
Meta has finalised an investment of $14.3 billion in Scale AI, valuing the startup at over $29 billion. Scale CEO Alexandr Wang will join Meta's new AGI-focused unit, with Jason Droege as interim CEO. The deal, Meta's second-largest ever, strengthens its AI ambitions and offers insights into rival labs' data strategies.
AI analytics company Databricks looks to ramp up India play
Databricks is investing $250 million in India over three years to boost talent, R&D, and market expansion. Co-founder Arsalan Tavakoli highlighted India’s AI potential and dismissed fears of job loss from automation, emphasising upskilling. With strong growth and open-source bets, Databricks remains confident despite competition from Snowflake and others.
CoreWeave to offer compute capacity in Google's new cloud deal with OpenAI
CoreWeave has secured a major partnership involving Google and OpenAI, supplying GPU-based cloud capacity to Google Cloud will then sell it to OpenAI to meet its rising AI demands. Backed by Nvidia and OpenAI, CoreWeave’s stock has surged post-IPO, while the deal positions Google as a neutral AI infrastructure provider amid shifting industry alliances.
Fire sale at Byju’s; Meesho’s pre-IPO move
Troubled edtech startup Byju’s is selling its US assets at steep losses, mandated by a US bankruptcy court. This and more in today’s ETtech Top 5.
Turf war in the clouds showers on the ground
As neocloud firms begin to challenge hyperscalers’ dominance, Indian data centres seek to benefit from this shift in cloud business, finds Himanshi Lohchab.
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UK to boost 'homegrown talent' in new AI skills drive
UK Prime Minister Keir Starmer pledged to train 7.5 million workers in AI skills through a government-industry partnership with tech giants like Nvidia and Google. With £187 million funding, the initiative aims to boost homegrown talent, digital infrastructure, and position the UK as a global AI leader.
If Elon Musk and President Donald Trump divorce, who gets Silicon Valley?
Elon Musk’s fallout with Donald Trump threatens Silicon Valley’s political ties, as tech leaders who followed Musk in supporting Trump may now face tough choices. Once seen as a key link between tech and Washington, Musk’s rift could jeopardise industry influence and benefits tied to AI, crypto, and satellite policy.
Nvidia on m-cap podium; Flipkart’s block deals
GPU giant Nvidia has once again become the most valued publicly traded company in the world, boasting strong financials and sector dominance. This and more in today’s ETtech Top 5.
Reliance only Indian firm in highly valued global technology companies list
Reliance Industries is the only Indian firm among the top 30 global tech companies by market value, ranked 23rd in a report on AI trends. The report highlights AI's rapid global impact, India’s lead in ChatGPT users, and massive investments fueling AI’s integration into products, infrastructure, and everyday life.
Norway's Wealth Fund CEO demands AI adoption among employees
Nicolai Tangen, CEO of Norway's $1.8 trillion sovereign wealth fund, is mandating AI adoption among his 670 employees. He believes AI is crucial for efficiency and future career prospects within the fund. Despite initial resistance, Tangen is implementing various initiatives to encourage AI usage, aiming for significant efficiency gains in the coming years.
Wall Street slides as Trump’s tariff threats triggers market uncertainty
American stock markets experienced a decline on Friday. This downturn resulted in a weekly loss. Donald Trump's proposal of 50% tariffs on European products triggered this fall. Technology and communication sectors faced significant losses. Apple's stock also dropped following tariff warnings. Trade tensions and tariff talks contributed to market uncertainty.
Oracle to buy $40 billion of Nvidia chips for OpenAI's US data center: Report
The data center is expected to be fully operational by mid-next year, and Oracle has agreed to lease the site for 15 years, the report said. JPMorgan has provided a bulk of the debt financing across two loans totaling $9.6 billion, while the site's owners, Crusoe and U.S. investment firm Blue Owl Capital, have invested around $5 billion in cash, the FT report added.
IndiaAI Mission GPU tender round 2: All seven shortlisted bidders clear technical round
All seven shortlisted firms have cleared the technical round of IndiaAI Mission’s second GPU tender, with commercial bids opened on Thursday. Around 15,000 GPUs are expected to be offered. The mission, backed by a Rs 10,000-crore budget, aims to boost India’s AI infrastructure and support local model development and research.
Trump drafts America's business titans to burnish his image at home and abroad
American business leaders are trying to get close to Donald Trump. They want relief from regulations and tariffs. Trump uses them to project a booming economy. But access does not guarantee protection from Trump's anger. CEOs are figuring out how to influence Trump. Some executives find it difficult to relay their views.
U.S. stock market futures May 20: Dow, S&P, Nasdaq mixed as Moody’s downgrade, Fed speeches shake confidence; Home Depot defies tariffs, Walmart warns on prices, global banks cut rates
US Stock market today shows S&P 500 futures slipping slightly as investors react to mixed signals from major retailers on the impact of tariffs. While Walmart warns of price hikes, Home Depot says it will hold prices steady, helping lift its stock after strong earnings. With retailers like Target and Lowe’s set to report soon, markets remain cautious. Global central banks are also easing policies to offset trade pressure. From tariff concerns to rising bond yields and China’s CATL IPO boom, this update covers all the key moves shaping Wall Street and global markets right now.
Trump's AI power play: Deep dive into US-Middle East deals
The deals signed during US President Donald Trump’s visit to the Middle East go beyond just exporting technology—they aim at bringing Gulf investment into US-based AI infrastructure. It marks a shift that ties the Middle East closer to US tech and strengthens US influence in the region.
UAE to build biggest AI campus outside US in Trump deal, bypassing past China worries
The countries did not say which AI chips from Nvidia or other companies could be included in UAE data centres, but sources had said a deal would give the Gulf country expanded access to advanced AI chips. Nvidia Chief Executive Jensen Huang was seen in televised footage conversing with US President Donald Trump and UAE President Sheikh Mohamed bin Zayed Al Nahyan at a palace in Abu Dhabi on Thursday.
Deals take centre stage in Trump's Gulf visit: $80 bn tech push, $20 bn AI data centres & more
Donald Trump secured a $600 billion investment commitment from Saudi Arabia. This happened during his Gulf states tour. Several deals were unveiled in Riyadh, Doha, and Abu Dhabi. These deals focused on artificial intelligence and emerging technologies. Amazon, AMD, and other companies announced significant investments. These investments are for AI infrastructure and data centers.
Nvidia share price soars by over 5 per cent as valuation crosses $3 trillion mark amidst Saudi deal, rising AI chip demand
Nvidia's stock rose over 5 per cent, pushing its value past $3 trillion. New global deals and upcoming faster AI chips are boosting investor confidence, despite trade worries and fears of lower tech spending.
Elon Musk, Sam Altman and other CEOs join Trump at US-Saudi lunch
Top US business leaders joined President Trump and Saudi officials for a high-profile lunch in Riyadh to discuss trade, investment, and AI. Executives from tech, finance, and industry aimed to court Saudi funding and influence US trade policy amid rising global tensions.
Nasdaq 100 erases 2025 decline as tariff cuts spark tech revival
The Nasdaq 100 turned positive for 2025 after a steep sell-off, driven by gains in tech giants and easing US-China trade tensions. CPI data also showed cooler inflation, boosting investor sentiment and hopes of further market stability.
Nasdaq, S&P ticked higher after April inflation data
Wall Street's main indexes were subdued at the open on Tuesday, as investors assessed the latest inflation numbers and their impact on monetary policy after markets came off sharp gains from the temporary Sino-U.S. trade truce.
Government gets bids offering 18,000 GPUs in Round-2 of IndiaAI Mission tender
In the second round of IndiaAI’s GPU tender, bids offering 18,000 GPUs were received, with 15,000 expected to qualify. Seven firms are shortlisted, including AWS and Google Cloud partners. The government aims to boost India’s AI capabilities and local language model development under its Rs 10,000-crore mission.
Trump says he spoke with Apple CEO Tim Cook after US-China agree to slash tariffs amid trade war
President Donald Trump said he spoken to Apple CEO Tim Cook on Monday following the truce deal with China on tariffs. The US and China have announced a halt in fiery tariff imposition and marked a mutual deal to bring down import duty in both countries, which could be a big relief for Apple.
Wall St futures soar after US-China agree to pause most of their sharp tariff increases
U.S. futures surged Monday after the U.S. and China announced they were suspending for 90 days most of the sharp tariff hikes each has imposed since U.S. President Donald Trump began escalating his trade war.
ServiceNow, Nvidia expand partnership, launch new AI agent
ServiceNow and Nvidia unveiled Apriel Nemotron 15B, a new AI reasoning model, and launched the AI Control Tower and Workflow Data Fabric to optimise enterprise AI use. Deepening ties with partners like AWS and Microsoft, they aim to drive real-time, AI-powered business transformation across industries.
Biden-era US AI chip rule looms large over India's GPU ambitions
US curbs on advanced AI chip exports, set to begin May 15, have alarmed Indian cloud and data centre firms. Under new limits, India may import only up to 50,000 GPUs, potentially crippling AI development. Industry leaders urge the government to seek exemptions and clearer processes.
Amazon's Bezos leads new investment in AI data company Toloka
Jeff Bezos’ firm led a $72 million investment in AI data solutions company Toloka, aiming to accelerate its US expansion and product development. Toloka, part of Nebius Group, supports AI model training with human input and gains operational independence through this strategic funding round.
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