Foster + Partners Unveils Bold 3D-Printed Tower on Moon’s Surface

British design and architecture powerhouse Foster + Partners has unveiled a striking new vision for off-Earth living: a 165-foot (50-meter) 3D-printed lunar skyscraper, engineered specifically for deployment at the Moon’s South Pole. Developed in collaboration with NASA and advanced manufacturing firm Branch Technology, the project signals a bold leap toward permanent human presence beyond Earth—and sets the stage for future Martian colonization.

The concept is more than just science fiction come to life. It’s a meticulously engineered structure tailored to survive and thrive in one of the harshest environments imaginable. Key to its feasibility is the use of in situ resources—namely, lunar regolith, the dust and rock found on the Moon’s surface—which would be transformed into durable construction material via 3D printing. This innovation addresses one of the most significant bottlenecks in space infrastructure: the prohibitive cost and complexity of hauling building materials from Earth.

Foster + Partners’ design is anchored by a spiraling tower capable of supporting essential power and communication systems. A set of expansive, fold-out solar panels—integral to the structure—will capture and store solar energy, ensuring self-sustaining power generation for lunar operations. The vertical form factor not only maximizes solar exposure in the Moon’s polar regions but also minimizes surface disruption, an increasingly important consideration in extraterrestrial architecture.

What sets this concept apart is its emphasis on autonomy. The structure is designed to be constructed by robotic systems with minimal human intervention, aligning with NASA’s broader ambitions to scale infrastructure development in space ahead of crewed missions. The initiative dovetails with the agency’s Artemis program, which aims to establish a long-term lunar presence as a springboard to Mars.

Prototype tower

“This is not just a visionary piece of architecture; it’s a prototype for how we might build sustainably and autonomously on other celestial bodies,” said a Foster + Partners spokesperson. “Our collaboration with NASA and Branch Technology represents a major step forward in developing practical solutions for space habitation.”

Currently, a detailed scale model of the lunar tower is on display at the Kennedy Center in Washington, D.C., as part of the “From Earth to Space and Back” exhibition, offering the public a closer look at what could soon become a landmark on the Moon.

Foster + Partners is no stranger to space architecture. The firm has previously worked with the European Space Agency on lunar habitat concepts, and its latest venture further cements its role at the forefront of space-enabled design thinking. As the global space race pivots from exploration to colonization, the intersection of cutting-edge architecture, robotics, and planetary science will be pivotal—and Foster + Partners appears poised to shape that future, one printed layer at a time.

Netflix’s Black Mirror Expands Universe with Launch of Interactive Game ‘Thronglets’

In a bold leap from screen to smartphone, Netflix has launched Thronglets, an interactive mobile game based on its cult-favorite sci-fi series Black Mirror. Inspired by Season 7’s critically acclaimed episode “Plaything,” the new release pushes the boundary between entertainment and digital self-reflection—hallmarks of the Black Mirror brand.

Thronglets lets players care for small, sentient digital creatures known as “throng.” But unlike traditional virtual pets, these AI-driven beings come with unique personalities, existential anxieties, and the unsettling ability to question their own reality—and yours. Designed as a hybrid of nostalgic Tamagotchi mechanics and the social simulation depth of The Sims, the game allows users to feed, educate, entertain, and interact with their digital charges, all while navigating ethical questions about digital life and agency.

The app, available to Netflix subscribers on both iOS and Android, offers a fully immersive experience complete with ambient in-game environments and dynamic conversations that change based on user behavior. If you ignore your throng, it may fall into a depressive spiral. If you overmanage it, it might rebel. Each interaction nudges the digital entity toward different psychological states, encouraging players to reflect on their own emotional responses and digital habits.

“We wanted to explore what happens when a virtual companion isn’t just responsive—but aware,” said Black Mirror creator Charlie Brooker in a statement. “Thronglets is an experiment in empathy, technology, and control. It’s unsettling, a bit funny, and sometimes deeply emotional—exactly the kind of experience we love to create.”

The idea for the game originated from fan reactions to the episode “Plaything,” which followed a lonely coder who becomes emotionally entangled with an increasingly self-aware digital companion. The episode, which aired in February 2025, quickly became one of the most discussed entries in the series, sparking debates about digital ethics and artificial sentience on social media platforms.

The game has already generated buzz across the gaming and entertainment communities, with early users describing it as “eerie,” “thought-provoking,” and “addictively bleak.” Critics have praised its innovative use of narrative gameplay and AI-powered dialogue, suggesting it may signal a new era of emotionally intelligent mobile gaming.

Thronglets also integrates with Netflix’s recommendation algorithm to adapt game content based on a user’s viewing habits, subtly tying gameplay to the viewer’s unique media footprint. For instance, players who’ve binge-watched darker episodes of Black Mirror may notice their throng exhibits more cynical behavior, while lighter viewing patterns may lead to more hopeful dialogue trees.

Though currently a standalone title, Netflix has hinted at future updates that could allow throng to interact with one another or respond to real-world events, further blurring the line between fiction and digital reality.

As the Black Mirror franchise continues to evolve, Thronglets represents a new chapter in interactive storytelling—one where the mirror doesn’t just reflect society, but watches you back.

What US Copyright Office Says on AI-Generated Work and Copyrights Issue

The U.S. Copyright Office has released Part 2 of its Report on Copyright and Artificial Intelligence, addressing the copyrightability of AI-generated works and reaffirming that human authorship remains essential for copyright protection in the United States. The report, a continuation of the Office’s AI initiative launched in early 2023, clarifies the level of human involvement required for AI-assisted works to qualify for copyright and examines how other countries approach similar issues.

The Office emphasizes that copyright law in the U.S. requires human authorship, citing the Copyright Clause in the Constitution and various legal precedents. Courts have consistently ruled that non-human entities cannot hold copyrights, a position the Office upholds. The Supreme Court has previously stated that an “author” is the person who translates an idea into a fixed, tangible expression entitled to copyright protection. Based on this principle, the Office asserts that AI-generated works alone cannot receive copyright protection, but works with sufficient human creativity may qualify.

 

The report outlines three scenarios in which AI-generated works may be eligible for copyright protection. First, AI tools used as an assistive mechanism, where the final creative expression is fundamentally human-authored, should not affect copyright eligibility. Second, when human-authored content is input into an AI system and remains perceptible in the output, copyright protection extends only to the human-created elements. Third, when AI-generated material is arranged or modified in a sufficiently creative way by a human, that specific human-authored contribution can be protected.

However, the Office firmly concludes that prompts alone do not constitute authorship, as AI systems produce unpredictable variations even when given identical inputs. The report notes that AI functions as a “black box,” with users and developers often unable to predict the exact outputs. As such, merely crafting a prompt is not enough to warrant copyright protection for the resulting AI-generated work.

The report also compares global approaches to AI-generated copyright. The European Union allows copyright protection only if significant human input is involved. The United Kingdom, under a pre-existing statute, grants copyright to computer-generated works where no human author exists, though this is currently under review. Japan evaluates copyright eligibility based on factors like user input, the number of generation attempts, and post-processing edits. China, in contrast, grants copyright to the individual using AI to create a work.

No new Acts Required

Despite calls for new protections for AI-generated materials, the Office does not see the need for legislative changes. It argues that existing U.S. copyright laws are flexible enough to accommodate AI advancements while ensuring human creativity remains protected. The report expresses concern that excessive legal protections for AI-generated works could diminish incentives for human authors, potentially stifling creative output.

Legal professionals are advised to consider the Office’s stance when assessing AI-related copyright matters. The key takeaways include the necessity of human authorship for copyright protection, the case-by-case evaluation of AI-assisted works, and the exclusion of AI prompts as a basis for copyright claims. Additionally, while AI-assisted creations may be protected under specific conditions, new legal frameworks are not currently needed.

The Copyright Office will continue to monitor technological and legal developments in AI and copyright law. The upcoming Part 3 of the report will address legal concerns related to training AI models on copyrighted works, licensing considerations, and the allocation of liability in AI-generated content.

ChatGPT’s Paid-subscribers surge to 2 crore, company valuation reaches $300 billion

OpenAI’s ChatGPT has seen a sharp rise in its paid subscriber base, climbing to over 20 million from 15.5 million in the past quarter, according to a report by The Information. The 30% increase in users has propelled an estimated monthly revenue boost from $333 million to $415 million.

The surge comes on the heels of OpenAI’s record-breaking $40 billion funding round, led by SoftBank, which pushed the company’s valuation to $300 billion. OpenAI also disclosed that more than 500 million people now use ChatGPT on a weekly basis.

The AI company is projecting substantial revenue growth, expecting to more than triple its earnings from $3.7 billion in 2024 to $12.7 billion in 2025. Bloomberg previously reported that OpenAI anticipates generating $29.4 billion in 2026.

Growing Demand and Operational Challenges

The rising number of paid subscribers highlights ChatGPT’s increasing popularity across various user bases. However, OpenAI continues to face high operational costs, including expenses related to AI chips, data centers, and talent acquisition.

Adding to its feature set, OpenAI on Tuesday introduced GPT-4o’s native image generation, allowing users to upload and edit images. The tool, which will soon be available across all ChatGPT tiers, has gained traction online. A recent viral trend saw users leveraging ChatGPT to create images in the style of Japan’s Studio Ghibli, further boosting engagement with the platform.

As demand for image generation soared, CEO Sam Altman implemented a rate limit, citing strain on OpenAI’s computing infrastructure. “Our GPUs are melting,” Altman remarked, referencing the surge in image-related prompts.

Subscription Plans and Features

ChatGPT currently offers two subscription tiers: Free and Pro. The Free tier provides access to GPT-3.5 with basic conversational features, while the Pro plan, priced at $20 per month, unlocks GPT-4 with enhanced capabilities such as improved reasoning, faster response times, and multimodal tools for text and image generation.

Pro users also benefit from higher usage limits, priority access during peak periods, and the ability to customize AI models to suit their needs.

IIIT Hyderabad’s ‘Crop Darpan’ App Helps Farmers Diagnose Crop Health Instantly

A research team from the International Institute of Information Technology (IIIT) Hyderabad, led by Prof. P. Krishna Reddy, in collaboration with scientists from Professor Jayashankar Telangana State Agricultural University (PJTSAU), has launched Version 2 of the Crop Darpan app—an AI-powered mobile tool designed to help farmers instantly diagnose crop health issues.

The development of Crop Darpan is part of a joint research initiative between India and Japan under the India-Japan Joint Research Laboratory project. The initiative, titled ‘Data Science-based Farming Support System for Sustainable Crop Production under Climatic Change’, involves multiple institutes, including IIT Hyderabad, IIT Bombay, PJTSAU, and the University of Tokyo.

Designed as a portable agricultural expert, Crop Darpan helps farmers detect issues in rice and cotton crops, including pest infestations, bacterial and fungal diseases, and nutrient deficiencies. The app not only diagnoses problems but also offers scientific guidance on corrective measures. “Currently, it is available for use in English and Telugu languages with a vision to expand into other Indian languages,” said Prof Krishna Reddy.

The system uses a structured, question-based approach, where farmers respond to a series of “Yes” or “No” questions based on visual symptoms observed in their crops. As they progress through the hierarchy of questions, the app narrows down the issue and provides specific solutions.

Crop cultivation involves three key stages:

  1. Selecting the right crop and sowing time
  2. Managing crop health, including pests, diseases, and nutrient deficiencies
  3. Maximizing market price realization

“Crop Darpan primarily focuses on phase two, allowing farmers to manage crop health without requiring direct assistance from agricultural experts,” says Prof Krishna Reddy. By leveraging data science and AI, the app acts as a virtual extension of experts from National Agricultural Institutes, providing real-time, field-based support.

Farmers can download the Crop Darpan app for free on:
📲 Google Play Store: Crop Darpan on Play Store
📲 Apple App Store: Crop Darpan on App Store

With Version 2, Crop Darpan continues to bridge the gap between traditional farming expertise and modern digital solutions, helping farmers improve crop health, productivity, and sustainability in the face of climate change.

Microsoft Unveils ‘Majorana 1’ Quantum Computing Chip Amid Ongoing Skepticism

Microsoft has introduced its first quantum computing chip, “Majorana 1,” marking a significant milestone in its pursuit of practical quantum computing. The chip, unveiled on Wednesday, is built on a novel topological core architecture that Microsoft claims will enable quantum computers to solve industrial-scale problems within years rather than decades.

Quantum computers are anticipated to tackle problems beyond the reach of classical computing. Unlike traditional bits, which exist in binary states (0 or 1), quantum bits, or qubits, can exist in multiple states simultaneously, potentially unlocking immense computational power. Competitors such as Google and IBM, alongside smaller firms like IonQ and Rigetti Computing, have also made significant strides in quantum computing, each employing different approaches to achieving quantum supremacy.

At the heart of Majorana 1 is the world’s first “topoconductor,” a new category of material capable of creating a unique state of matter using the Majorana particle—a theoretical entity believed to be its own antiparticle. According to Microsoft, the chip is based on “gate-defined devices” that combine the semiconductor indium arsenide with aluminum, a superconductor.

When the topoconductor is cooled to near absolute zero (approximately -400 degrees Fahrenheit) and exposed to magnetic fields, it is expected to form topological superconducting nanowires with Majorana Zero Modes (MZMs) at their endpoints.

“We took a step back and asked, ‘What kind of transistor does the quantum age require?’ That question led us here,” explained Chetan Nayak, a Microsoft technical fellow. “The combination of quality and details in our new materials stack has enabled a novel type of qubit and, ultimately, an entirely new architecture.”

Microsoft asserts that its topoconductor-based qubits are more stable, compact, and digitally controllable without the trade-offs seen in existing quantum computing alternatives, addressing some critics who raised apprehensions three years ago. The company has also published a research paper in Nature detailing how its researchers successfully engineered and measured the topological qubit’s quantum properties—an essential step toward practical quantum computing.

Ongoing Doubts About Microsoft’s Majorana Claims

Despite Microsoft’s confidence in its topological qubit approach, skepticism persists regarding the fundamental basis of its technology. In 2022, Microsoft published research asserting that it had detected Majorana particles—an essential component of its quantum computing framework. However, physicists from the University of Basel soon challenged these claims, arguing that Microsoft’s findings could be explained by alternative factors.

Their unique properties have sparked renewed interest in recent years, particularly for their potential to serve as stable qubits resistant to decoherence—a major challenge in quantum computing. Decoherence, caused by environmental disturbances, can quickly destroy quantum states, rendering calculations unreliable. If Majorana-based qubits truly exist, they could theoretically circumvent this issue.

However, a 2022 study published in Physical Review Letters by a team led by Prof. Jelena Klinovaja at the University of Basel had cast doubt on Microsoft’s claims. “Microsoft’s approach is promising,” noted Richard David Hess, lead author of the study. “But our calculations suggest that their data could also be explained by other effects unrelated to Majorana particles.”

The challenge in identifying Majorana particles lies in their elusive nature. Researchers rely on nanowires—semiconducting strands thousands of times thinner than a human hair—paired with superconductors to search for telltale quantum signatures. Microsoft’s 2022 findings were based on conductance measurements that indicated anomalies characteristic of Majorana states, alongside observations of a “topological phase”—a concept from topology, a branch of mathematics that examines properties of objects that remain unchanged under continuous transformations.

However, the Basel team conducted mathematical modeling of Microsoft’s experiments and found that similar anomalies and superconducting behaviors could be reproduced by minor imperfections, or “disorder,” within the nanowire itself. “Our results clearly show that disorder plays a significant role in these experiments,” explained Henry Legg, a postdoctoral researcher in Klinovaja’s group.

“While Microsoft’s work represents an exciting step, unambiguously detecting Majorana states and leveraging them for computing remains a formidable challenge,” Klinovaja concluded.

India’s EV Fleet Expected to Surpass 28 Million by 2030: IESA Report

 

India’s electric vehicle (EV) fleet is projected to exceed 28 million units by 2030, significantly increasing demand for grid energy, according to the India Energy Storage Alliance (IESA).

With cumulative EV sales surpassing 4.1 million units in FY 2023-24, the sector’s growth is fueled by rising environmental awareness, advancements in battery technology, and expanded charging infrastructure. IESA estimates that by 2030, 83% of annual EV sales will be two-wheelers, 10% four-wheelers, and 7% commercial vehicles, including buses and trucks.

Electricity consumption has surged, reaching 1,543 TWh in 2023-24 (a 7% increase from the previous year). Public EV charging demand has more than doubled, rising from 204 GWh in 2022-23 to 465 GWh from April to October 2024. Home charging remains the preferred choice for most EV users.

The Ministry of Power’s National Electricity Plan forecasts a total grid demand of 2,133 TWh by 2031-32, with EV charging accounting for approximately 3%. To support this growth, India plans to expand its total power capacity from 466 GW in 2025 to 900 GW by 2032, including 500 GW from renewable sources.

Charging infrastructure is set to scale up significantly, with approximately 100,000 charging stations expected nationwide by 2030.

US Semiconductor Tariffs: India Faces Limited Immediate Impact

The U.S. decision to impose tariffs on semiconductors is unlikely to significantly impact India in the short term, as the country is not a major chip exporter to the U.S., industry experts said Thursday.

With India already imposing zero import duties on semiconductors, the country faces no immediate trade retaliation concerns, said Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA).

Most of India’s upcoming semiconductor manufacturing and assembly facilities cater to global brands, and its growing domestic demand will be met primarily through local production.

In the long run, Indian chipmakers are expected to remain competitive, as the U.S. tariff applies uniformly to all exporting nations, Chandak noted.

The Trump administration’s decision to impose tariffs of 25% or more is expected to reshape the global semiconductor industry, affecting costs, supply chains, and innovation.

The new tariffs will significantly increase the cost of chips imported into the U.S., particularly from dominant manufacturing hubs like Taiwan, South Korea, and China. These additional costs will likely be passed on to consumers, driving up prices for smartphones, laptops, electric vehicles, and industrial electronics.

Tech giants such as Apple, NVIDIA, and Tesla could see rising production costs, potentially squeezing profit margins or forcing them to raise consumer prices, according to IESA.

To mitigate risks, companies may explore alternative supply chains or invest more in domestic chip production. However, semiconductor fabrication plants are among the most capital-intensive projects, requiring $10 billion to $25 billion per site.

“Companies must weigh multiple factors before making investment decisions, including workforce availability, tax policies, regulatory frameworks, and environmental considerations,” IESA stated.

Infosys Q2 Profit Rises, Raises Revenue Outlook

Infosys posted a 4.7% rise in net profit for Q2 FY25, hitting Rs 6,506 crore, up from Rs 6,212 crore a year ago. Revenue grew 2.9% year-on-year, reaching Rs 40,986 crore. The company raised its full-year revenue growth forecast to 3.75-4.5% and announced a 16.7% interim dividend increase to Rs 21 per share, payable on November 8.

Strong performance was driven by strategic collaborations with Metro Bank, Proximus, TDC Net, and Posti. Infosys CFO Jayesh Sanghrajka stressed a focus on revenue growth and margins, while CEO Salil Parekh highlighted broad-based growth across sectors.

The company’s net profit for the quarter reached ₹6,506 crore, up from ₹6,212 crore in the same period last year. Meanwhile, its revenue for the quarter stood at ₹40,986 crore, marking a 2.9% year-on-year growth. Quarter-on-quarter, the company saw over 4% growth, with revenue climbing from ₹38,994 crore in the previous quarter.

The company has raised its full-year revenue growth guidance to 3.75-4.5%, showing optimism for the coming months. This increase in guidance comes as Infosys continues to leverage new strategic partnerships and strengthen its service offerings across key sectors.

Infosys also declared an interim dividend of ₹21 per share, reflecting a 16.7% hike compared to last year’s dividend. The payout is scheduled for November 8, underscoring Infosys’ strong financial position and commitment to rewarding its shareholders.

Broad-Based Growth and Margin Focus

During the first half of FY25, Infosys reported a year-over-year revenue growth of 2.9% in constant currency, with an operating margin of 21.1% for the second quarter. Infosys CEO Salil Parekh attributed this success to the company’s broad-based growth across various sectors and geographies, noting that the company saw 3.1% quarter-on-quarter growth in constant currency terms.

“We achieved strong growth in financial services, which was a key contributor to our performance this quarter,” Parekh said. This growth, along with steady client wins, has helped Infosys maintain momentum despite a challenging global economic environment.

Chief Financial Officer Jayesh Sanghrajka highlighted the company’s focus on accelerating revenue growth while maintaining a sharp focus on margin performance. “Our operating margin for the quarter was at 21.1%, driven by value-based pricing and efficient utilization of resources,” Sanghrajka said. He also pointed to the company’s strong cash generation, with free cash flow growing 25.2% year-on-year to reach $839 million. For the second consecutive quarter, Infosys achieved over 100% free cash flow conversion to net profits.

Infosys’ employee headcount rose by 2,456 in the quarter, bringing the total to 3,17,788. The company also approved the merger of WongDoody Inc., Blue Acorn iCi Inc., Outbox Systems Inc. (d.b.a. Simplus), and Kaleidoscope Animations Inc. into Infosys Nova Holdings LLC, further strengthening its business capabilities.

Strategic Collaborations and Future Outlook

Infosys continues to drive growth through strategic collaborations with key global players. The company entered a long-term collaboration with Metro Bank to enhance its IT and support functions, while also transforming the bank’s business operations. Metro Bank CEO Daniel Frumkin said the partnership would help the bank become more profitable and scalable in the long run.

The company also announced a collaboration with Proximus, a Belgian telecommunications provider, to explore new business opportunities. Proximus’ Chief Digital and IT Officer, Antonietta Mastroianni, welcomed the renewed partnership, highlighting its potential to unlock new opportunities.

Another key collaboration came with TDC Net, Denmark’s largest telecom infrastructure company. Infosys is set to help TDC Net transform into a more customer-centric technology company. TDC Net’s Chief Technology and Information Officer, Campbell Fraser, expressed confidence in Infosys’ ability to support their digital transformation.

Infosys also renewed its collaboration with Finland’s postal service, Posti, extending their partnership for another seven years to enhance customer experience and operational efficiency. Petteri Naulapää, Posti’s CIO and SVP, praised the ongoing collaboration and its role in driving innovation.

With these strategic partnerships and a strong financial outlook, Infosys is well-positioned for continued growth in the second half of the fiscal year.

 

New Chip Helps Diagnose Heart Attacks Based on Blood Test in Minutes

A revolutionary chip-based blood test, developed by researchers at Johns Hopkins University, promises to diagnose heart attacks within minutes, providing a faster and more accurate alternative to current methods. The test, which delivers results in just five to seven minutes, could potentially be used by first responders and even in home settings.

Led by Peng Zheng, an assistant research scientist at Johns Hopkins, the team created a chip with an innovative nanostructured surface that enhances the detection of heart attack biomarkers in blood samples. “We were able to invent a new technology that can quickly and accurately establish if someone is having a heart attack,” Zheng said.

Published in the journal Advanced Science, the test uses Raman spectroscopy to amplify electric and magnetic signals on the chip’s surface. This allows the detection of even ultra-low concentrations of heart attack biomarkers within seconds, providing a level of sensitivity not possible with existing tests, which often take hours to deliver results.

The new tool is designed for quick diagnostic work in clinical settings but has the potential to be adapted for use in handheld devices. This could allow first responders in the field or even individuals at home to perform tests, providing critical information when time is of the essence.

In addition to diagnosing heart attacks, the platform can be adapted for other uses, such as detecting cancer or infectious diseases. “We’re talking about speed, accuracy, and the ability to perform measurements outside of a hospital,” said senior author Ishan Barman, a bioengineer in the Department of Mechanical Engineering.

With significant commercial potential, the research team plans to refine the blood test and conduct larger clinical trials, bringing this life-saving technology closer to everyday use.

BharatPe Group Reports Rs 209 Crore EBITDA Loss in FY24, Marks Key Turnaround

Fintech firm BharatPe Group announced its financial results for FY 2023-24 on Wednesday, revealing a consolidated EBITDA loss (before share-based payment expense) of Rs 209 crore for the fiscal year. While still in the red, the company has significantly narrowed its losses compared to the Rs 826 crore EBITDA loss it posted in FY 2022-23, signaling a positive shift in its financial performance.

According to BharatPe, its revenue from operations saw a robust 39% year-on-year (YoY) growth, rising from Rs 1,029 crore in FY23 to Rs 1,426 crore in FY24. Additionally, the company managed to halve its consolidated loss before tax, which dropped from Rs 941 crore in FY23 to Rs 474 crore in FY24.

BharatPe’s growth was particularly notable in its merchant lending business. The company’s average merchant lending portfolio, fueled by loans originating through its platform, grew by 40% compared to the previous year. This growth underscores BharatPe’s expanding role in providing credit access to small and medium-sized businesses, a key driver of its business strategy.

The company also highlighted strong demand for its soundbox devices, a key product in BharatPe’s offerings that has gained significant traction in the market during FY24.

Reduced Cash Burn and Turn to Profitability

BharatPe reported a sharp reduction in its cash burn, cutting it by 85% on a YoY basis. This improved cash management, along with other operational efficiencies, played a crucial role in moving the company closer to profitability.

In a major milestone, BharatPe turned EBITDA positive in October 2024, marking a significant achievement for the fintech firm. Commenting on the financial performance, BharatPe CEO Nalin Negi said, “FY24 was a milestone year for us as BharatPe turned EBITDA positive. We also considerably reduced our cash burn, positioning ourselves to build a sustainable and profitable business.”

Negi attributed the company’s progress to strategic partnerships with financial institutions, which have expanded BharatPe’s lending capabilities. “We have been able to partner with renowned financial institutions to extend credit access to merchants, validating our business model,” Negi added.

New Focus Areas and Future Outlook

BharatPe continues to diversify its product offerings and strengthen its position in the competitive fintech landscape. Negi outlined the company’s future plans, which include expanding its lending vertical, launching new products across POS (point-of-sale) solutions, and scaling its soundbox devices. BharatPe is also ramping up efforts in its consumer payments vertical, further diversifying its revenue streams.

In line with this strategy, BharatPe rebranded its PostPe app, transitioning it into the broader BharatPe ecosystem, signaling its entry into the consumer payments space. This move represents the company’s intent to build a more integrated and user-centric financial platform.

Funding and Investor Backing

BharatPe has successfully raised over $583 million in equity to date, with backing from several prominent global investors. These include Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management, Dragoneer Investment Group, Steadfast Capital, Steadview Capital, and Tiger Global.

The company’s robust funding and investor support reflect confidence in BharatPe’s business model and growth potential. With a focus on sustainable growth, the fintech firm aims to consolidate its position in the fast-growing Indian digital payments and lending market.

As BharatPe continues to drive innovation and expand its offerings, the company is on track to further strengthen its financial performance, setting the stage for sustained growth and profitability in the coming years.

L&T Technology Services Reports 2% Rise in Q2 Net Profit to ₹320 Crore

L&T Technology Services Ltd (LTTS) posted a net profit of ₹320 crore for the second quarter of FY 2024-25, marking a 2% increase from ₹314 crore in the previous quarter. The IT services company’s performance was bolstered by steady growth in revenue and continued expansion in its core technology sectors.

According to the company’s exchange filing, LTTS recorded revenues of ₹2,573 crore for the July-September quarter, representing a 4.5% increase from ₹2,462 crore in the April-June quarter of the same fiscal year. In terms of dollar revenue, the company reported $307 million, up 6.5% year-on-year (YoY), demonstrating strong growth on the global front.

The company’s earnings before interest and taxes (EBIT) for the quarter rose by 1% to ₹388 crore. However, its EBITDA margin contracted slightly to 15.1%, reflecting some cost pressures despite the increase in revenue.

AI-Led Transformation

Amit Chadha, CEO and Managing Director of LTTS, expressed confidence in the company’s trajectory, driven by its strategic focus on larger deals and advanced technology transformations. “With our pipeline featuring large-sized deals focused on consolidation and technology-led transformations, we are optimistic about achieving our medium-term goal of reaching $2 billion in revenue with an EBIT margin of 17-18%,” Chadha said in a statement.

Chadha also highlighted the growing demand for artificial intelligence (AI) solutions, which is playing a pivotal role in winning contracts across various industry segments. “We are seeing increased momentum in AI-led deal discussions, and our portfolio of AI solutions and accelerators is enabling us to secure deals in our focus areas,” he added.

The company has filed a total of 165 patents in AI, underscoring its commitment to innovation. As of the end of Q2FY25, LTTS had a patent portfolio of 1,394, of which 877 were co-authored with customers, and 517 were filed independently by the company. This focus on AI and intellectual property is key to its competitive edge in the market.

Employee Strength and Dividend Announcement

LTTS reported a workforce of 23,698 employees as of September 30, reflecting its ongoing investment in talent to support its growth and expansion in advanced technologies.

In addition to its financial performance, LTTS also announced an interim dividend of ₹17 per equity share for its shareholders, amounting to a distribution of ₹179.9 crore. The record date for the dividend payment has been set for October 25, 2024.

Stock Performance

Shares of LTTS closed 0.72% higher at ₹5,356.9 apiece on the NSE, outperforming the broader market, where the Nifty 50 declined by 0.34%. The positive stock movement reflects investor confidence in the company’s strong quarterly results and its forward-looking growth strategy.

With its solid performance in Q2FY25, L&T Technology Services is well-positioned to capitalize on emerging technology trends such as AI and digital transformation. The company’s focus on innovation, robust deal pipeline, and commitment to delivering shareholder value are expected to sustain its growth momentum in the upcoming quarters.

China’s Underground Lab Aims to Unlock Deepest Mysteries of Universe, Begins With Dark Matter

China has launched a cutting-edge underground laboratory in a bold bid to unravel the universe’s greatest mysteries. The China Jinping Underground Laboratory (CJPL), buried 2,400 meters beneath Sichuan province, is the world’s deepest underground research facility. Its depth shields sensitive experiments from cosmic rays, creating optimal conditions to explore elusive phenomena like dark matter and neutrinos.

The lab’s primary focus is dark matter, which constitutes 85% of the universe’s mass but remains undetected. The next-gen PandaX experiment at CJPL aims to capture rare interactions between dark matter and normal particles. CJPL is also studying neutrinos—lightweight particles crucial to understanding cosmic processes.

China’s investment in CJPL highlights its ambition to lead in scientific research, alongside major projects like the Chang’e lunar missions and its space station, Tiangong. As CJPL advances, global scientists anticipate discoveries that could redefine our understanding of the universe.

The laboratory beneath more than 2,400 meters of solid rock, makes it the deepest underground research facility of its kind in the world. This remarkable depth helps shield the lab from cosmic rays and other background radiation, creating an ideal environment for sensitive experiments that require near-zero interference from external factors.

To investigate dark matter, the lab houses a range of advanced detectors and technologies, including the next-generation PandaX (Particle and Astrophysical Xenon) experiment. PandaX aims to detect the weak interactions between dark matter particles and normal matter by observing tiny flashes of light or electrical signals that might be produced when dark matter collides with atomic nuclei. By conducting these experiments in such a highly shielded environment, scientists hope to capture elusive evidence of dark matter’s existence.

Another major area of focus for the CJPL is the study of neutrinos—extremely lightweight and elusive particles that are produced by nuclear reactions, such as those occurring in the sun or in supernovae. Neutrinos can pass through matter almost undisturbed, making them difficult to detect but crucial to understanding fundamental processes in the universe. The lab’s experiments, such as the Jinping Neutrino Experiment, are designed to capture and study these particles to gain insights into how the universe works on a subatomic level.

Capable of studying , nuclear reactions, gravitational waves 

In addition to its role in dark matter and neutrino research, the Jinping lab has the potential to support a wide range of other scientific endeavors, such as studying rare nuclear reactions, examining the nature of gravitational waves, and exploring potential links between cosmic phenomena and the origins of life on Earth.

As the Jinping Underground Laboratory continues to expand its capabilities, it has the potential to yield groundbreaking discoveries that could transform humanity’s understanding of the universe. Scientists worldwide are watching with great interest, hopeful that this deep-earth facility will shed light on the unseen forces and particles that govern the cosmos.

With its unique design, cutting-edge technology, and ambitious goals, China’s underground lab stands at the forefront of global efforts to answer some of the most profound questions in modern physics and cosmology.

IBM Acquires Bengaluru-based Prescinto, Expands Into Renewable Energy CMS Software

IBM has announced its acquisition of Bengaluru-based Prescinto, a leading provider of asset performance management (APM) software for the renewable energy sector. While the financial details were not disclosed, this strategic move aims to strengthen IBM’s Maximo Application Suite (MAS), a platform focused on asset lifecycle management.

This acquisition will enhance IBM’s foothold in the rapidly growing energy and utilities market, where companies are increasingly looking to optimize their wind, solar, and energy storage assets. By incorporating Prescinto’s AI-powered tools, IBM plans to offer enhanced monitoring, analytics, and automation capabilities for renewable energy operations.

According to IBM, the global utilities asset management market is projected to grow from $4.3 billion in 2022 to $12.4 billion by 2031, at a compound annual growth rate of 11.3%. The rising demand for these solutions is fueled by the global shift toward renewable energy, as companies seek to reduce emissions and lower energy costs.

Prescinto’s technology helps energy firms streamline operations by providing real-time tracking of energy production and storage assets. The platform identifies performance bottlenecks and delivers actionable insights, allowing companies to maximize returns on their renewable energy investments.

IBM’s Maximo Application Suite is already widely used across sectors such as water, natural gas, oil, and nuclear energy. With Prescinto’s capabilities, IBM aims to better support its clients’ sustainability and net-zero goals by offering more advanced tools for managing renewable energy assets.

Founded in 2016, Prescinto operates in 14 countries, managing 16 gigawatts of renewable energy assets. The acquisition aligns with IBM’s strategy to lead the digital transformation of the energy sector.

Recently, IBM’s Maximo platform was ranked first in IDC’s 2023 global market share report for asset lifecycle management, holding a 10.8% share. This acquisition is expected to further solidify IBM’s leadership in the sector.

HCL Tech Reports 10.5% YoY Rise in Net Profit to Rs 4,235 Cr for Q2 FY25

Global technology firm HCLTech on Monday announced a 10.5% year-on-year (YoY) rise in net profit, reaching Rs 4,235 crore for the July-September quarter of FY25. However, on a quarter-on-quarter (QoQ) basis, the net profit dipped slightly by 0.5%.

The company’s revenue from operations surged to Rs 28,862 crore, marking an 8.2% increase compared to the same period last year, according to a company statement. HCLTech’s earnings before interest and taxes (EBIT) margin rose by 149 basis points sequentially, standing at 18.6%.

C Vijayakumar, CEO and Managing Director of HCLTech, said the company delivered a strong quarter with revenue growth of 1.6% QoQ in constant currency terms, while the EBIT margin reached 18.6%. “This growth was well-distributed across verticals, geographies, and offerings. HCL Software has shown exceptional performance with a 9.4% YoY growth this quarter and a 6.4% rise in the first half of FY25 in constant currency, highlighting the increasing relevance of our products in the digital economy,” Vijayakumar noted.

The company declared a dividend of Rs 12 per share, marking the 87th consecutive quarter of dividend payouts.

Workforce Expansion

HCLTech’s workforce has grown to 218,621 employees, with the addition of 780 workers in Q2, along with 2,932 freshers. For FY25, the company expects revenue growth between 3.5% and 5.0% YoY in constant currency.

Chief Financial Officer Shiv Walia highlighted the company’s robust financial performance, with constant currency revenue growth at an industry-leading 6.2% YoY.

Looking ahead, Vijayakumar expressed optimism about the company’s pipeline, particularly in areas like data and AI, digital engineering, SAP migration, and efficiency-focused programs. “Our GenAI offerings, such as AI Force and AI Foundry, are resonating well with clients and are poised to drive efficiency, growth, and innovation in the medium term,” he added.

Ola Electric Shares Drop 3% to Rs.87.44 Amid Pricing Investigation and Regulatory Scrutiny

Shares of Ola Electric fell nearly 3% on Monday, marking the third straight session of decline, as the company faces scrutiny over its pricing practices. The Automotive Research Association of India (ARAI), under the Ministry of Heavy Industries, has asked the electric vehicle (EV) manufacturer to clarify recent price cuts on its S1 X 2 kWh electric scooter during a promotional sale.

Ola Electric’s stock closed at Rs 87.44 per share, continuing its decline from an all-time high of Rs 157.40. If the company fails to provide a satisfactory explanation to the ARAI, it could face legal action and may lose access to subsidies offered under the government’s PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.

Reports suggest that if pricing violations are discovered, Ola Electric could face penalties in line with E-DRIVE guidelines. The probe adds to the growing list of regulatory challenges facing Bhavish Aggarwal’s EV firm.

Growing Consumer Complaints

In addition to the ARAI inquiry, Ola Electric has been hit with a notice from the Central Consumer Protection Authority (CCPA). The notice follows over 10,000 complaints filed with the National Consumer Helpline (NCH) over the past year, mostly related to poor after-sales service.

Ola Electric has been given 15 days to respond to the CCPA’s show-cause notice. The complaints range from unresolved technical issues to delays in refunds and subpar customer support.

The government has also directed Ola Electric to implement better consumer protections for its ride-hailing services, including offering customers the option to choose their preferred refund method and ensuring that proper invoices are provided for all auto rides booked through its platform. Since the beginning of 2024, over 2,000 complaints have been registered against Ola’s ride-hailing service, many citing discrepancies between the fare shown at booking and the amount charged.

The ongoing investigations and consumer complaints highlight the challenges Ola Electric faces in maintaining customer trust and complying with regulatory standards. As Ola continues to expand its EV portfolio, addressing these issues will be crucial for restoring investor confidence and ensuring long-term growth.

Battle for Fuji Soft Intensifies, Bain Capital Makes Bold $4B Offer to Outbid Rival KKR

Bain Capital has outbid rival KKR with a $4 billion offer to acquire Fuji Soft, a prominent Japanese software developer, setting the stage for a rare high-stakes showdown between two private equity giants. Bain’s bid, which values Fuji Soft at 9,450 yen per share, surpasses KKR’s offer by approximately 7%, igniting a fierce contest for control of the company.

Bain Capital’s move marks a significant escalation in the competition, as both firms vie for Fuji Soft’s backing. KKR had previously advanced its tender offer at 8,800 yen per share but has now found itself outpaced by Bain’s more aggressive bid. Fuji Soft’s board had earlier recommended that shareholders accept KKR’s offer, making Bain’s path to securing the acquisition more complex.

The shares of Fuji Soft, closing at 9,000 yen on Friday, reflect the heated competition and the significant interest both firms have in the company. Bain Capital, in a statement on Friday, announced its intention to formally launch the offer by the end of October, contingent on gaining Fuji Soft’s approval.

Rare Showdown

This bidding war between Bain and KKR is a rare spectacle in private equity, where two industry titans openly compete for control of a major company. Such high-profile showdowns have been uncommon in the sector, but history offers a few parallels. Notably, the fierce battle between KKR and TPG Capital over TXU Corp., a Texas-based energy company, in 2007 remains one of the most significant private equity face-offs. Another famous contest was KKR’s pursuit of RJR Nabisco in 1988, which ultimately resulted in a $25 billion deal, then the largest leveraged buyout in history.

The Fuji Soft battle, while smaller in scale, carries similar stakes. The company has been the focus of attention due to internal shareholder conflicts, and the involvement of both Bain and KKR has only intensified the spotlight.

Bain’s decision to outbid KKR signals the firm’s strong belief in the company’s potential for future growth and profitability. The competition has underscored Fuji Soft’s appeal as a valuable player in Japan’s tech landscape, and both firms appear willing to go the distance to secure its acquisition.

However, with KKR’s tender offer still endorsed by Fuji Soft’s board, Bain Capital faces a significant challenge in pushing its bid forward. The coming weeks will be pivotal in determining the final outcome of this contest, which could set a precedent for future private equity battles.

 

AMD Poised to Launch New AI Chips, Intensifies Market Rivalry With Nvidia

In a strategic move that underscores the intensifying competition in the artificial intelligence (AI) chip sector, Advanced Micro Devices (AMD) is set to unveil a new lineup of AI processors during an upcoming data center event in San Francisco. This announcement aims to strengthen AMD’s position as a formidable supplier of AI chips in a market that has been predominantly led by Nvidia. The event, scheduled for Thursday, is anticipated to feature details on AMD’s MI325X chip and the next-generation MI350 chip.

The MI350 series is designed to directly compete with Nvidia’s Blackwell architecture, promising enhanced computing power and memory capabilities. This development marks a significant effort by AMD to disrupt Nvidia’s market dominance in the AI chip landscape. AMD first introduced these chips at the Computex trade show in Taiwan in June, with plans for a release in the latter half of this year and into next year.

In addition to the AI chips, AMD is expected to unveil new server central processing units (CPUs) and PC chips that incorporate enhanced AI computing capabilities. This initiative illustrates AMD’s dedication to advancing AI technology and responding to the increasing demand for AI-driven solutions across various sectors.

AMD’s current MI300X AI chip, launched late last year, has experienced a swift uptick in production to meet growing market needs. In July, the company raised its AI chip revenue forecast for the year to $4.5 billion, up from a previous estimate of $4 billion, driven by substantial demand for the MI300X, especially in the realm of generative AI product development.

Market Competition

Despite AMD’s aggressive strategy, analysts suggest that its new product launches are unlikely to significantly impact Nvidia’s data center revenue, given that the demand for AI chips far outstrips supply. AMD is projected to report data center revenue of $12.83 billion this year, according to LSEG estimates, while Nvidia is expected to achieve a staggering $110.36 billion in the same segment. Data center revenue serves as a critical indicator of the demand for AI chips essential for developing and running AI applications.

The competitive landscape for AI chips has been evolving rapidly. Intel, another key player, recently announced its next-generation AI data center chips, the Gaudi 3 accelerator kit, which is priced around $125,000—substantially cheaper than Nvidia’s comparable HGX server system. Meanwhile, Nvidia continues to innovate with its next-generation AI platform, the Rubin platform, slated for release in 2026. This platform will succeed the Blackwell architecture, which has been highly sought after and is expected to remain sold out well into 2025 due to robust demand.

AMD’s Move Toward AI

AMD’s CEO, Lisa Su, has expressed a clear vision for the company’s future, emphasizing that AMD is not seeking to be a niche player in the AI chip market. This statement reflects the company’s ambition to solidify its presence as a major contender alongside established leaders like Nvidia and Intel.

As the AI chip market becomes increasingly competitive, AMD’s upcoming announcement is likely to further fuel this rivalry. With AI technology continuing to evolve and the demand for AI-powered solutions expanding, the market is poised for more innovations and strategic initiatives from industry giants. This dynamic landscape highlights the relentless pursuit of technological advancement in the AI chip arena.

TCS Q2 Results: Profits Rise 5%, Revenue Up 7.6%, Adds 5,726 Employees

Tata Consultancy Services (TCS), a global leader in IT services and consulting, posted a net profit of ₹11,909 crore for the second quarter of the fiscal year, reflecting a 5% year-on-year increase. Despite a modest quarter-on-quarter decline of 1.1%, TCS’s results demonstrate the company’s resilience in navigating ongoing market challenges, particularly in the face of global economic uncertainty.

Revenue for the quarter climbed to ₹64,259 crore, a 7.6% year-on-year rise. Key sectors such as energy, resources, utilities, and manufacturing were the primary drivers behind this growth, underscoring the strength of TCS’s diversified business model and its capacity to adapt to fluctuating market conditions. The company also declared a second interim dividend of ₹10 per share, reinforcing its commitment to delivering value to shareholders and maintaining a strong financial position.

TCS continues to expand its workforce, adding 5,726 employees in the July-September quarter, bringing its total headcount to 612,724. Women now make up 35.5% of the company’s workforce, highlighting TCS’s emphasis on fostering a diverse and inclusive work environment. This focus on talent acquisition and diversity is central to the company’s long-term strategy of driving innovation and maintaining its competitive edge in the global IT services sector.

Navigating Geopolitical Uncertainty 

CEO and Managing Director K Krithivasan addressed the cautious trends that have shaped the last few quarters, attributing them to ongoing geopolitical uncertainty. Despite these challenges, the company’s Banking, Financial Services, and Insurance (BFSI) vertical—the largest in its portfolio—showed early signs of recovery. Additionally, TCS reported strong performance in its Growth Markets, further demonstrating its ability to adapt to complex conditions and sustain stable results.

Chief Financial Officer Samir Seksaria emphasized the strategic investments made in talent and infrastructure during the quarter. These investments, combined with disciplined financial management, led to strong cash conversion and positioned the company for future growth. TCS remains confident in its ability to maintain profitable growth, with its long-term cost structures remaining stable despite short-term headwinds.

AI and Innovation Driving Future Growth

TCS is experiencing ongoing momentum in the deployment of Artificial Intelligence (AI) and Generative AI (GenAI) solutions. With over 600 AI/GenAI engagements either fully deployed or in various stages of development, the company is committed to leveraging these advanced technologies to enhance client offerings and drive business growth. The rapid maturation of AI technologies is positioning TCS to further strengthen its leadership in digital transformation and innovation across industries.

The company’s focus on innovation is further evidenced by its patent portfolio. As of September 30, TCS had applied for 8,354 patents, including 160 applied during the quarter, and had been granted 4,369 patents, including 223 granted during the quarter. This robust intellectual property portfolio underscores TCS’s commitment to research and development and its ability to deliver innovative solutions to its clients.

In addition to its financial performance, TCS has also been making strategic moves to strengthen its market position. The company recently secured a Rs 15,000 crore deal with BSNL to set up data centers and 4G sites across India, laying the foundation for future 5G infrastructure. This deal is expected to provide a significant boost to the company’s revenues in the coming quarters.

‘Peak Benglauru Moment’ When Virtual Receptionist Greets Guest From Delhi

Bengaluru, often celebrated as India’s technology capital, is once again proving why it leads the charge in innovation. In a recent social media post, Ananya Narang, CEO of Entourage and a prominent business influencer, shared her firsthand experience of staying at a hotel managed almost entirely by virtual staff.

During her stay, Narang was surprised to find no traditional front desk employees. Instead, the hotel relied on a futuristic approach—guests were welcomed and assisted via remote hospitality professionals through video conferencing. On-site, only two security guards and a few technicians were present to handle the physical aspects of operations. All other guest interactions, from check-in to concierge services, were managed by staff seated at the hotel’s headquarters, remotely overseeing multiple properties at once.

In her LinkedIn and X (formerly Twitter) post, Narang dubbed the experience a “Peak Bengaluru moment,” capturing the spirit of the city’s tech-forward innovation. “You’ll see this nowhere in India yet, except the Silicon Valley,” she noted, highlighting Bengaluru’s unique embrace of technology.

Her post ignited discussions across social media platforms, with many users marveling at the seamless integration of technology into hospitality. However, it also sparked debate about whether such innovations could truly replace the personal touch that has long been a hallmark of the hotel experience.

As virtual receptionists begin to emerge in Bengaluru’s hotels, the city offers a glimpse into the future of hospitality—a future where efficiency, automation, and digital convenience redefine the guest experience. Whether this model will gain traction across India and beyond remains to be seen, but Bengaluru, once again, is setting the pace for what’s possible.