Tata Steel sales increases marginally to 2.15 MT in April-June

July 27, 2016

Tata Steel has posted a marginal increase in its sales at 2.15 million tonnes (MT) for the first quarter ended June 30.

It has said in a regulatory filing that the company had clocked sales of 2.14 MT during the same period in 2015-16 fiscal.

However, the crude steel production of the company grew by 7 percent to 2.52 MT during April-June 2016-17 as compared to 2.35 MT of the same quarter in 2015-16.

Saleable steel output increased by 5 percent to 2.34 MT during the quarter under review as compared 2.23 MT in the same quarter of last fiscal.

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TECHNOLOGY

Perplexity in Early Funding Talks at $18 Billion Valuation

Dhruva KulkarniMarch 21, 2025March 21, 2025

March 21, 2025March 21, 2025

Perplexity AI Inc., an AI-powered search startup competing with Google, is in early talks to raise $500 million to $1 billion at an $18 billion valuation, though details may change.

The startup previously received funding offers at a $15 billion valuation but has not commented on the latest round.

Founded in 2022, Perplexity rapidly grew its valuation from $1 billion to $3 billion and now seeks another major increase.

It offers AI-powered search tools, internal file searches for organizations, and finance-related features like stock price lookups.

With nearly $100 million in annual recurring revenue and 15 million active users as of last March, Perplexity is expanding its market presence.

Facing competition from Google and OpenAI’s new search product, it is backed by SoftBank, Nvidia, and Jeff Bezos.

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TECHNOLOGY

Google to Acquire Cloud Security Firm Wiz for $32 Billion in Record Deal

Dhruva KulkarniMarch 20, 2025March 20, 2025

March 20, 2025March 20, 2025

Google is set to acquire cloud security startup Wiz for $32 billion in an all-cash deal, marking its largest acquisition ever and strengthening its cloud security and AI capabilities.

Wiz’s products will remain available on rival platforms like AWS and Microsoft Azure.

Founded in 2020 under Assaf Rappaport, Wiz rapidly grew to $100 million in annual recurring revenue within 18 months.

It specialises in cloud security tools for prevention, detection, and response, helping Google compete with Microsoft in the cybersecurity space.

In July, Wiz declined a $23 billion offer from Google, opting for an IPO and targeting $1 billion in annual revenue before later changing course.

The acquisition aligns with Google’s strategy to expand its cloud business and address rising cybersecurity challenges in the AI-driven digital era.

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TECHNOLOGY

Tencent Reports Strongest Growth in a Year, Driven by Hit Games

Dhruva KulkarniMarch 19, 2025March 19, 2025

March 19, 2025March 19, 2025

Tencent recorded its fastest revenue growth in over a year, driven by successful game releases despite economic challenges.

Q4 revenue rose to 172.5 billion yuan ($23.8 billion), surpassing estimates, while net income reached 51.3 billion yuan, beating projections.

The company plans to repurchase at least HK$80 billion in shares in 2025 and raise its annual dividend by 32%.

Hit games like Dungeon & Fighter Mobile and Delta Force boosted growth, offsetting slowdowns in advertising and payments.

President Xi Jinping’s meeting with tech leaders signals a softer stance on private firms, with AI, EVs, and chipmaking as key priorities.

WeChat remains a core asset, driving revenue through ads, mini-games, and e-commerce, while fintech struggles with stagnation.

Tencent’s market value jumped 30% ($140 billion) this year, benefiting from a Chinese tech rally, though it lags Alibaba’s 70% surge.

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TECHNOLOGY

WhatsApp and Telecom Department Team Up to Fight Online Fraud and Spam

Dhruva KulkarniMarch 18, 2025March 18, 2025

March 18, 2025March 18, 2025

The Department of Telecommunications (DoT) has teamed up with WhatsApp to launch a security campaign as part of Meta’s ‘Stay Safe from Scams’ initiative, aiming to tackle online fraud, spam, and raise awareness about digital threats.

Meta’s Global Policy Chief Joel Kaplan and Telecom Minister Jyotiraditya Scindia discussed efforts to combat online threats through this collaboration.

WhatsApp is using data from the Digital Intelligence Platform (DIP), a real-time intelligence-sharing system with over 550 stakeholders, including banks and law enforcement agencies.

India has seen a sharp rise in cybercrime, with scams leading to massive financial losses and a growing concern over ‘digital arrests’ via WhatsApp calls.

The partnership seeks to curb such crimes by strengthening digital security measures and detecting telecom resource misuse.

While the DoT and telecom operators have already taken steps against spam and fraud, this initiative adds another layer of protection for users.

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TECHNOLOGY

SpaceX Launches 21 Starlink Satellites from Florida

Dhruva KulkarniMarch 13, 2025March 13, 2025

March 13, 2025March 13, 2025

SpaceX successfully launched 21 Starlink satellites from Cape Canaveral, including 13 with Direct to Cell capabilities to enhance global mobile connectivity.

Originally planned alongside Crew-10, the Starlink 12-21 mission became the primary launch after Crew-10 was scrubbed earlier.

The first stage booster, B1069, completed its 22nd flight, having previously supported CRS-24 and multiple Starlink missions. It successfully landed on the A Shortfall of Gravitas droneship in the Atlantic Ocean.

This deployment brings the Starlink constellation to over 7,000 satellites, strengthening high-speed internet access worldwide. SpaceX had additional launch windows available in case of delays.

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