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  • SEBI Proposes Major RPT Rule Changes for Big Corporates to Ease Compliance Burden

    With a renewed emphasis on making it easier for big businesses to conduct business, the Securities and Exchange Board of India (SEBI) on 7 August recommended significant modifications to its related party transaction (RPT) system.

    A substantial revision of materiality requirements is suggested in the capital markets regulator’s consultation paper, which could reduce compliance barriers for the country’s leading listed companies by about 60%.

    Why SEBI’s Proposed RPT Changes Matter for Big Firms?

    A “scale-based threshold mechanism” is outlined in the consultation document, which is open for public comment, to decide whether RPTs are deemed material and need to be presented to shareholders for approval. For any RPT above INR 1,000 crore, or 10% of their yearly consolidated turnover, whichever is less, listed businesses are currently required to obtain shareholder approval.

    SEBI pointed out that this was burdensome for listed organisations with high turnover because it made big businesses designate a lot of large transactions that weren’t really significant as material, which resulted in a lot of paperwork.

    How the New Scale-Based Threshold System Works

    SEBI has suggested using a scale-based method in place of the “one-size-fits-all” strategy in order to address this. 10% of yearly consolidated turnover is still the barrier for businesses with a turnover of up to INR 20,000 crore. The barrier, however, is INR 2,000 crore + 5% of turnover exceeding INR 20,000 crore for enterprises with a turnover of INR 20,001–40,000 crore.

    Additionally, a threshold of INR 3,000 crore + 2.5% of turnover beyond INR 40,000 crore, up to a maximum of INR 5,000 crore, applies to enterprises with a turnover of more than INR 40,000 crore.

    According to SEBI, the scale-based threshold approach would guarantee that the threshold for materiality rises in tandem with the company’s turnover, resulting in a suitable number of related party transactions being classified as material and lowering the burden of compliance for listed entities.

    Impact: 60% Reduction in Material RPT Approvals

    When SEBI tested the new limits using recent data, it discovered that there were almost 60% fewer substantial RPTs that needed shareholder approval. SEBI addressed subsidiary transactions as well, suggesting that transactions exceeding INR 1 crore need audit committee clearance if they surpass either the new scale-based threshold for the parent company or 10% of the subsidiary’s turnover, “whichever is lower”.

    What This Means for Listed Companies and Subsidiaries

    10% of net worth or the parent company’s criteria would be used as a comparator for subsidiaries without full-year financials.” Noting that the INR 1 crore exemption from full disclosure requirements is a “minuscule amount for listed entities having high turnover,” Sebi suggested that smaller RPTs only have to give the Audit Committee or shareholders the bare minimum of information, up to 1% of turnover or INR 10 crore, whichever is less.

    SEBI Consultation Paper: Key Dates and Deadlines

    The consultation document aims to formally state that omnibus RPTs passed at an AGM will remain in effect for a maximum of 15 months, until the next AGM. The approval is good for another year for other shareholder meetings. It was suggested that directors or other key management staff of a listed company or its subsidiary (or their family members) would be the only ones eligible for exemptions from retail purchases.

    Additionally, it made clear that listed holding companies are the only ones eligible for exemptions from transactions between holding companies and subsidiaries. SEBI has set a deadline of August 25, 2025, for public feedback on these suggestions. The difficulty, according to legal experts, will be striking a balance between efficiency and adequate rigour, making sure that the compliance reset doesn’t weaken minority rights or create new opportunities for related party dealings to be opaque.

  • Actor-Entrepreneur Ranbir Kapoor Invests in Prozo to Support Scalable Supply Chain Innovation

    Prozo, the tech-enabled full-stack supply chain platform powering India’s fastest-growing brands, has announced an investment from actor and entrepreneur Ranbir Kapoor. Known for his sharp business instincts and long-term involvement in ventures like ARKS and Mumbai City FC, Kapoor’s entry highlights the importance of scalable backend infrastructure in the consumer economy.

    Prozo integrates warehousing, freight, and fulfilment under a single tech platform, with proprietary tools like ProWMS, ProShip, and the Control Tower. These enable unified, SLA-driven operations across B2B, D2C, and marketplace channels with real-time visibility.

    “Every brand today needs speed, consistency and adaptability,” said Ranbir Kapoor. “Prozo’s systems give brands that edge. I’ve seen how great execution builds trust, and Prozo is enabling that behind the scenes.”

    Dr. Ashvini Jakhar, Prozo’s Founder & CEO and a former Naval doctor and McKinsey consultant, added: “Ranbir brings creative depth and strategic thinking. His belief in reliable operations mirrors our ethos, and we’re excited to build with his support.”

    Prozo offers an integrated supply chain platform that combines warehousing, freight and fulfilment with its proprietary technology stack. Its warehouse management system (WMS), transport management system (TMS), and real-time control tower give brands visibility and control across all sales channels, whether B2B, D2C or marketplace.

    Prozo currently powers over 150 brands—including The Minimalist, Neemans, Comet, Beardo, Snitch, Traya, Powerlook, and PhonePe—across 42 tech-enabled warehouses covering 2.2 million sq. ft. and reaching 24,000+ pin codes. The company has achieved an annual revenue run-rate of ₹250 crore and raised $20 million from Sixth Sense Ventures and JAFCO Asia.

    Looking ahead, Prozo aims to expand its warehousing network into new cities, double down on automation and predictive analytics, and provide fulfilment solutions tailored for MSMEs and quick commerce brands. The company is also enhancing its Same-Day and Next-Day Delivery (SDD & NDD) capabilities to meet the high-speed needs of modern consumers.

    About Prozo

    Prozo is a full-stack supply chain company that helps omnichannel brands achieve fast and reliable fulfilment. Backed by a pan-India warehousing and logistics network and its proprietary Control Tower tech stack, Prozo offers enterprise-grade capabilities on a flexible, pay-per-use model.

    Rohit Sharma Backs Prozo to Build India’s Integrated Supply Chain Operating System
    One of India’s best captains invests in a full-stack platform enabling seamless scale for over 150 brands
    StartupTalkyShubham Kumar

  • Bug Alert: Google’s AI ‘Big Sleep’ Wakes Up to 20 Open Source Security Flaws

    Google’s ‘Big Sleep’ is wide awake and hunting bugs. The AI-powered vulnerability researcher Big Sleep identified 20 issues across several open-source software. Heather Adkins, Google’s vice president of security, posts it on ‘X’ to announce the news to the world. You might wonder what’s so substantial about finding these bugs; every company does that. Well, it’s the AI that detected the problems, the same AI that we’ve always been skeptical about. And sure, the question will remain the same, plus some others too. Will this shift in relying on AI just be an aid, or another move to replace humans?

    What Did Big Sleep Find?

    Big Sleep is a collaborative effort between the company’s DeepMind (AI department) and Project Zero (Google’s well-known hacking team). The tool identified its first vulnerabilities in the FFmpeg audio and video library and the ImageMagick image-editing suite. That said, Google did not reveal many details about the issues found. Needless to say, they are working on the problems, and their policies keep them concealed from public scrutiny.

    Recently, XBOW was in the news for hitting number one at HackerOne (a bug bounty platform connecting organizations and hackers). Such big names, be it XBOW or Big Sleep, had human intervention where required. It goes without saying that having a human on the task is a must, and that idea is non-negotiable.

    What does Google say about replacing humans?

    A Google spokesperson argued against the notion of replacing humans and said,  “This is not about replacing human security researchers, but about augmenting their capabilities. Our AI bug hunter can perform thousands of tests in the time it takes a human to run a few. This allows our security teams to focus on the more intricate and strategic aspects of cybersecurity, while the AI handles the repetitive and time-consuming work.”

    Heather Adkins posted, “Today as part of our commitment to transparency in this space, we are proud to announce that we have reported the first 20 vulnerabilities discovered using our AI-based “Big Sleep” system powered by Gemini.”

    Conclusion:

    There is no replacing humans today or ever. AI technology like Big Sleep is meant to help companies work faster and protect users’ online security. Although there’s still a lot of work to improve the technology, humans will continue to interpret the data.

  • Nawgati Selected for Google for Startups Accelerator to Scale AI Fuel-Tech App

    The only mobility-tech startup in the cohort, Nawgati, gears up to refine its AI-driven app solutions with Google’s mentorship.

    Nawgati, India’s pioneering fuel-tech platform, has been selected to join the prestigious Google for Startups Accelerator: Apps program. As one of only 20 startups chosen from across India, Nawgati is proud to represent the mobility and fuel-tech sector in this exclusive cohort focused on AI-driven app innovations.

    This recognition marks a significant milestone in Nawgati’s journey to transform the refuelling experience for millions of everyday commuters. As the only mobility-focused app in the cohort, Nawgati’s inclusion signals the growing importance of consumer-first, real-time digital solutions in India’s transportation ecosystem.

    Over the next three months, Nawgati will receive dedicated mentorship and support from Google’s global teams specialising in AI, product development, user experience (UX), business growth, and leadership strategy. This collaboration will help Nawgati refine and scale its app, which is already being used by thousands of drivers and two-wheeler riders across the country.

    “We’re honoured to be part of the Google for Startups Accelerator: Apps program. This opportunity will not only accelerate our technological evolution but also sharpen our ability to create value for fuel station owners, fleet operators, and everyday consumers. As India continues to push toward a smarter and more connected mobility infrastructure, this recognition comes at a perfect time,” said Mr. Vaibhav Kaushik, CEO and Co-founder of Nawgati.

    Nawgati’s app empowers users with real-time data for fuel stations, discovery, and route-based recommendations, making fueling more predictable and efficient. By integrating AI into its core, the app helps users make better decisions on the go, reducing wait times and eliminating the guesswork from daily commutes.

    Backed by marquee institutions such as GAIL (India) Ltd., MeitY Startup Hub (MSH), Department of Science and Technology (DST), All in Capital, Ajay Upadhyaya, and Deepak Bhagnani Family office, Nawgati has continually demonstrated its commitment to innovation in India’s mobility landscape. The selection by Google further reinforces Nawgati’s growing relevance and impact in the fuel-tech domain.

    About Nawgati

    Nawgati is India’s first fuel-tech platform, providing technology-driven solutions to optimise fuel station operations, improve fleet management, and enhance the refuelling experience with India’s largest fuelling app. Collaborating with major fuel companies and fleet operators, Nawgati enables smart, seamless, and efficient refuelling across the country and beyond.

  • Swiggy Launches DeskEats to Serve Office-Goers Across 30 Indian Cities

    The foodtech giant Swiggy has launched DeskEats, a new product created especially to serve Indian working people. According to a statement from the company, the offering is currently accessible in over 7,000 tech parks, business centres, and corporate complexes spread across 30 cities, including Delhi, Mumbai, Bengaluru, Chennai, Gurugram, Pune, and Kolkata.

    DeskEats: Swiggy’s New Offering for Office-Goers

    According to Swiggy, DeskEats offers about 7 lakh menu options from over 2 lakh establishments. Entering “office” or “work” in the Swiggy app will activate the feature. Value combos, stress munchies, deadline desserts, sip-tastic fuel, one-handed grabbies, healthy nibbles, and teamwork bites are just a few of the carefully curated collections that make up DeskEats.

    How DeskEats Works: Smart Menus for the Workday

    Each category is made to cater to a particular workday situation, such as a quick snack in between meetings or a solo desk lunch. According to the company’s statement, DeskEats is designed to satisfy the changing demands of customers looking for a convenient meal delivery service that they can enjoy at their desks throughout the workday.

    Corporate Rewards Program Gains Momentum

    Three months have passed since Swiggy’s Corporate Rewards program was introduced, which enables businesses to provide carefully chosen Swiggy perks to their staff as part of wellness campaigns or workplace incentives. According to Swiggy, the initiative has received excellent feedback from 14,000 businesses and 1.5 lakh workers.

    According to Deepak Maloo, vice president of Swiggy’s food strategy, customer experience, and new projects, corporate professionals today are more time-constrained and have more options than ever before. Swiggy has rethought how meal delivery fits into a hectic, high-achieving workplace with the introduction of DeskEats.

    Zomato for Enterprise: The Rival Response

    Zomato, Swiggy’s rival, introduced Zomato for Enterprise (ZFE) last year to accommodate business-related orders from corporate staff in response to the needs of working professionals. The goal of Zomato’s service is to make managing food expenses easier for businesses and their staff.

    Swiggy Expands Beyond Food with New Apps Like Crew and Pyng

    Swiggy is now launching a lot of new products, and they’re not just food delivery services. In June, the foodtech major introduced a concierge service for travel and lifestyle via a brand-new app named “Crew.” Crew is a customised concierge app made to help customers with a variety of routine and unique chores.

    Pyng, Swiggy’s professional services marketplace app, was also released earlier this year. Swiggy Genie, the company’s delivery service, has been paused while it aggressively tests out new offerings. Swiggy released its financial results for the first quarter of the fiscal year 2025–2026 (Q1 FY26) last week. As it kept making investments to grow its rapid commerce activities, the company’s deficit increased in the first quarter. In the June quarter, the company’s net loss increased by 96% to INR 1,197 Cr from INR 611 Cr in the same period last year.

    Q1 FY26 Financial Snapshot: Losses Grow, Revenue Surges

    The company’s loss increased by 11% from INR 1,081 Cr on a sequential basis. On the other hand, Swiggy’s top line grew significantly. In Q1 FY26, operating revenue increased 54% to INR 4,961 Cr from INR 3,222 Cr in the same quarter last year. This represented a 12% rise over INR 4,410 Cr on a QoQ basis. Although Instamart’s loss during the reviewed quarter nearly tripled to INR 797 Cr from INR 280 Cr a year earlier, the rise was only 3.3% sequentially from INR 771 Cr.

  • Daily Indian Funding Roundup & Key News – 4 August 2025: Mitigata Raises $5.9M, Dhruva Space Plans First SpaceX Launch, & More

    On 4th August, cyber resilience startup Mitigata raised $5.9 million in Series A funding led by Nexus Venture Partners. Dhruva Space announced its first commercial satellite mission with SpaceX, and Swiggy launched DeskEats to serve office-goers across 30 Indian cities. Here’s a quick look at the key funding deals and top business news highlights in India from the day.

    Company Sector Funding Round Amount (USD) Lead Investor(s) Other Investors
    Mitigata Cyber resilience / InsurTech Series A $5.9 million Nexus Venture Partners Titan Capital, WEH Ventures

    Mitigata secures $5.9 million in Series A funding

    Bengaluru‑based startup Mitigata, which operates a full‑stack cyber resilience platform integrating cybersecurity, risk management, compliance and cyber insurance, has raised USD 5.9 million in its Series A round. The funding was led by Nexus Venture Partners, with continued support from Titan Capital and WEH Ventures.

    Mitigata serves over 500 enterprises across 25 sectors, and is the first IRDAI‑regulated broker solely focused on cyber insurance in India. The fresh capital will support the development of its AI‑driven platform (featuring tools like RELIQ for cyber risk quantification), expansion of its services, and growth into global markets. The company plans to establish three Global Security Operations Centres (SOCs) in Bengaluru, Mumbai and Delhi, while scaling its team in security, insurance and compliance domains.

    Key News Highlights for 4 August 2025

    Dhruva Space to Launch First Commercial Satellite via SpaceX Falcon 9

    Hyderabad‑based space tech firm Dhruva Space has confirmed that its LEAP‑1 mission — the startup’s first commercial satellite deployment — is scheduled to launch aboard a SpaceX Falcon 9 rocket in the third quarter of 2025. The mission will carry two payloads: Akula Tech’s Nexus‑01, an AI module, and Esper Satellites’ OTR‑2, a hyperspectral imager, both mounted on Dhruva’s indigenously developed P‑30 satellite platform — a system that was space‑qualified during ISRO’s PSLV‑C58 POEM‑3 mission in January 2024. The initiative marks a significant Indo‑Australian collaboration with growing US support.

    Delhivery Shares Surge to Fresh 52‑Week High on Strong Q1 Performance

    Shares of leading logistics firm Delhivery climbed approximately 5–6%, touching a 52‑week high at around ₹456–₹457 on both the BSE and NSE. The stock rally followed a robust 68.5% year‑on‑year net profit rise to ₹91 crore in the June quarter. In light of the solid performance, brokerage firm Motilal Oswal raised its target price for the stock, boosting investor sentiment.

    VinFast Launches EV Production in India and Eyes Local Sourcing

    Vietnamese EV maker VinFast officially commenced production at its first overseas manufacturing facility in Thoothukudi, Tamil Nadu, as part of a $500 million investment (with potential to scale to $2 billion). The plant has an initial capacity of 50,000 vehicles per annum, scalable to 150,000 units, and will manufacture two premium SUV models: the VF 6 and VF 7. VinFast is in talks with several component suppliers — including existing partners and local manufacturers — to localise sourcing and potentially shift production to India, positioning itself as a future export hub for the South Asia region.

    Swiggy Rolls Out DeskEats Courting Office‑goers Across 30 Cities

    Food delivery giant Swiggy has introduced DeskEats, a new service tailored to working professionals in over 7,000 tech parks, corporate hubs and business complexes across 30 cities, including Delhi, Mumbai, Bengaluru, Chennai, Gurugram, Pune and Kolkata. Accessible via typing “Office” or “Work” in the Swiggy app, DeskEats offers curated meal collections such as Stress Munchies, Deadline Desserts, Value Combos, Healthy Nibbles, One‑handed Grabbies and Teamwork Bites, with over 700,000 menu items from more than 200,000 restaurants. The service builds on Swiggy’s broader corporate strategy, already enrolling over 14,000 companies and 1.5 lakh employees in its workspace rewards programmes.

    Indian Startup Funding Updates for 2025 (Updated Weekly)
    Get weekly updates on Indian startup funding for 2025! StartupTalky is here to provide you with a clear and simple overview of the latest funding news.
    StartupTalkyApoorva Bajj

  • Apple’s Next Big Move: Building Its Own ChatGPT-Style Answer Engine

    Apple is soon to come up with its own AI-powered ‘answer engine,’ sparking curiosity among users. Interestingly, AI never interested Apple; in fact, it downplayed the necessity of a Chatbot for a long time. And irony catches it soon enough; AI has not been that lucky for Apple. The Siri revamp has been delayed for months, and its AI features have faced controversies. Despite its fair share of struggles with AI, Tim Cook is more than willing to push the team toward the finish line. Now the real question looms: will it be a hit or a miss this time? 

    Apple to Roll Out its Own ChatGPT-Style AI Tool

    Some say the move has come to light as Apple’s deal with Google is nearing its end. Well, Siri turns to ChatGPT to handle any complicated queries from its users, but that is about to change. According to the latest report from Bloomberg’s Mark Gurman, Apple is all set to create its own look-alike version of ChatGPT with search features.

    This gen AI app will aid users in several ways. It scans through websites on the subject matter and provides the most relevant information to the user quickly. 

    Additionally, navigating the complex settings, enabling or disabling a function with this technology, becomes much easier. Apple aims to personalize and humanize the entire experience on all its devices. Once the AI becomes operational, it will eventually integrate with other Apple services like Siri, Spotlight Search, and Safari.

    Apple is Talent Hunting for its New AKI Team

    Reportedly, a new team called Answers, Knowledge, and Information, or simply AKI, will lead this AI development. Robby Walker, a senior director, will head the team’s operations. The team is also looking for talented professionals who have a passion and skill in search algorithms and engine development.

    The career site states, “Our work fuels intuitive information experiences across some of Apple’s most iconic products, including Siri, Spotlight, Safari, Messages, Lookup, and more. Join us in shaping the future of how the world connects with information!”

    Conclusion 

    Anything that saves time interests tech enthusiasts. Do you agree? AI-powered Answer Engines are quite a popular topic in the tech world today. ChatGPT, Perplexity, and now Apple. Although it’s only baby steps for Apple, it still appears to be backing its plans in the race. The world is waiting to see the final result, with many users hoping it turns out well. We’ll bring you more updates on the same.

    Apple Supply Chain Expands in Tamil Nadu
    Apple suppliers are investing INR 30,000 Cr in TN as the state rolls out incentives, boosting electronics exports and creating 60,000+ jobs.
    StartupTalkyNitin Konde

  • EV Sales Surge in Q1 FY26: Premium Cars and Scooters Drive India’s Auto Evolution

    India’s auto industry is clearly changing due to trends in urban consumption, fiscal consolidation, and unequal rural recovery. With trends shifting every quarter, the third-largest auto market in the world is also one of the most volatile.

    According to a recent study, the first quarter of FY 2025–2026 also points to a variety of tendencies. In the previous quarter, demand for entry-level cars and in rural areas stayed relatively low, according to new Deloitte research called Wheelwatch.

    Urban Aspirations Fuel Premium Auto Segment

    However, the demand for luxury, hybrid, and electric automobiles is rising due to sustainability choices and urban aspirations. Along with the future of EVs, the research analyses important developments from the passenger car and two-wheeler categories.

    State Policies Accelerate EV Adoption in Q1 FY26

    Few state governments updated or introduced new EV policies in Q1 of FY2026. For example, Madhya Pradesh introduced a new five-year EV strategy (2025–2030), while Maharashtra extended its EV policy until 2030 with a target of 30% EV penetration.

    In the meantime, the central government implemented further incentives like a 100% exemption from road tax and registration and a 15% concessional import tariff on premium EVs. Although unequal, EV adoption is speeding up and is focused in states with supportive policies and infrastructure.

    Luxury Bikes and Scooters Gain, Entry-Level Market Falters

    In the first quarter of FY2026, domestic two-wheeler sales fell by 6.2%. When looking closely at the two-wheeler market, motorcycles had a 9.2% decline, while commuter bikes saw a 10.4% decline. The challenges on affordability among lower-income households are reflected in this.

    Conversely, sales of luxury motorbikes increased by 0.9%, indicating strong premium demand, while sales of sports or performance bikes increased by 10.7%. Scooter sales stayed the same, while mass scooters’ market share increased by 2.2% points, indicating a change in urban transportation. EV penetration rose from 4.9% to 6.2% last year due to a 34% increase in electric two-wheeler registrations.

    Kerala Leads EV Penetration Across Two- and Four-Wheelers

    With a 14.9% penetration rate—more than twice the national average—Kerala leads the nation in the adoption of electric two-wheelers. Tamil Nadu and Karnataka come next. In the first quarter of FY2026, passenger automobile sales fell 1.4% year over year.

    Passenger Cars See Mixed Performance Amid Rural Slowdown

    A negative sentiment in rural areas has been blamed for the 7.7% decline in small car sales during this time. Mid-sized cars, on the other hand, increased by 14.6%, indicating that urban purchasers are upgrading for more affordable models.

    The EV segment of passenger cars saw a huge year-over-year increase of 75%, increasing its penetration from 2% in Q1 FY2025 to 3.5%. With an EV penetration rate of 7.9%, Kerala once again took the lead, followed by Tamil Nadu, Delhi, Karnataka, and Maharashtra.

  • Atlassian Lays Off 150 Staff, CEO Cannon-Brookes Faces Backlash

    According to various media reports, Atlassian co-founder and billionaire CEO Mike Cannon-Brookes told employees via pre-recorded video message last week that the firm would eliminate 150 employees from its workforce. According to a Sky News story, the message was delivered early on July 30 and showed the 45-year-old software tycoon speaking from what looked to be his home office while casually wearing a faded green hoodie.

    Cannon-Brookes’ Video Message Raises Eyebrows

    According to the story, Cannon-Brookes clarified in the video that the corporation was moving towards a new innovative business strategy, which included the elimination of some roles. However, other employees found the impersonal delivery to be more startling.

    According to Sky News, affected employees were only notified via email of their fate and were apparently forced to wait an additional fifteen minutes after the video to find out if they were among those being let go. According to the report, impacted staff members were locked out of their laptops in the hours that followed.

    Response from Atlassian

    In an exclusive email interaction with Startuptalky, Atlassian spokesperson stated, “We have made the hard decision to let a small cohort of customer service and support (CSS) employees go. We made this decision after implementing improvements to the customer experience across our platform and tools, resulting in a significant reduction in support needs. While we’re proud of this momentum, it leaves us with more capacity than needed to deliver strong customer support. These improvements include reducing the time spent on support tickets with more efficient ways to route work to the right experts who can resolve issues more quickly, better identification and resolution of error codes and more.”

    Further clearing the romours on replacing human workforce with AI, spkoesperson added, “The aforementioned roles are not being replaced by AI. For each impacted employee, we’re providing a generous severance package, healthcare benefits for them and their families, six months access to our EAP and mental health services, visa support if needed, internal mobility and outplacement services.”

    Jet Purchase, Billionaire Status Draw Criticism

    Reaction to Atlassian’s layoffs has come from both inside and outside the organisation, especially in light of Cannon-Brookes’ questionable investments and substantial personal wealth—estimated at $13.9 billion. The CEO has been actively investing in renewable energy projects, such as an underwater cable project connecting Darwin to Singapore to export solar energy, at the same time that the decision to eliminate jobs in favour of AI was made.

    However, his recent purchase of a gas-guzzling private jet in March has drawn harsh criticism, according to a Sky News report. As per the report, Cannon-Brookes justified his contentious purchase of a $75 million long-range jet, the Bombardier 7500, back in March by claiming on LinkedIn that it enables him to be a “present dad” while managing a multinational company.

    According to the report, he acknowledged that the action presented ethical concerns, saying, “I’m not denying I have a deep internal conflict on this.”

    The CEO provided justification by stating, “I bought a jet for a few reasons. According to the Sky News story, “Personal security is the main reason (an unfortunate reality of my world), but I also want to be able to run a global business from Australia and still be a constantly present dad.”

    Farquhar: AI is ‘Essential for the Future’

    According to the media reports, the layoffs occurred right after Scott Farquhar, Atlassian’s other co-founder, spoke at the National Press Club of Australia and hailed artificial intelligence as crucial for the future.

    First, according to Farquhar, most people don’t consider the source of their power or water, nor do they consider the origin of artificial intelligence (AI) or the AI they use on a daily basis on their phones. He went on to say that the construction of data centres for the area is booming, and that the use of AI in daily life is also booming.

    He emphasised that everyone should use AI on a regular basis for as many purposes as possible. He stated that, similar to any new technology, it will be uncomfortable to use at first, but every businessperson, business leader, government leader, and bureaucrat should be utilising it.

  • Inside Google’s AI Revolution: $85B Bet, Productivity Drive, and a $4 Trillion Milestone

    In what he described as a period of “extraordinary investment,” Google CEO Sundar Pichai has challenged staff to increase productivity and efficiency as the company doubles down on artificial intelligence. Pichai stated that the corporation must adjust to the AI transition without a corresponding increase in staff during an internal meeting, the audio recording of which CNBC was able to acquire. Pichai informed staff members that employing a large number of personnel is the appropriate response to any period of exceptional investment.

    Pichai Pushes for Productivity in the Age of AI

    However, Pichai believes his team must do more in this AI era by utilising this shift to promote increased productivity. He underlined that we must be “frugal with our resources” and that he is still “very optimistic” about Google’s present state of affairs. Google is actively creating tools for software engineers to speed up development cycles and promote wider AI usage across teams, according to Brian Saluzzo, a top executive at the business.

    New Internal Tools: AI Savvy Google & Building with Gemini

    Saluzzo unveiled AI Savvy Google, a new internal platform that provides staff members with product-specific training, toolkits, and carefully selected learning resources to hone their AI abilities. He also revealed Building with Gemini, a joint training initiative with DeepMind that aims to give engineers cutting-edge skills by utilising Google’s Gemini AI model.

    Google Surpasses $4 Trillion: AI and Cloud Demand Soar

    Last week, Google became the second firm after Nvidia to reach the historic $4 trillion market cap milestone. Following an impressive earnings report in the AI sector, the market capitalisation experienced a significant spike.

    Thanks to new AI features and a stable digital advertising market, Google exceeded Wall Street’s quarterly revenue and profit projections. Additionally, due to the strong demand for cloud computing services, Google raised its capital spending estimate to $85 billion.

    Chief Financial Officer Anat Ashkenazi stated during the call that demand and expansion prospects are anticipated to drive significant increases in capital spending in 2026. Although the rate of server deployment has sped up, Ashkenazi continued, Alphabet still has more customers requesting its cloud services than it can provide.

    Windsurf Acquisition: Supercharging Code Generation

    Last month, Google revealed that it has hired a number of senior employees from AI code generation start-up Windsurf. According to a person familiar with the agreement, Google is paying $2.4 billion in license fees as part of the agreement to use parts of Windsurf’s technology on non-exclusive terms. According to a media report, Google will not acquire a stock or any kind of controlling position in Windsurf.

    Co-founder Douglas Chen, Windsurf CEO Varun Mohan, and a few members of the coding tool’s R&D team will join Google’s DeepMind AI group.

    According to media reports from June, the deal came after months of talks between Windsurf and OpenAI to sell the company for a price that may reach $3 billion. This deal demonstrated the interest in the code-generation field, which has become one of the fastest-growing AI applications.