Category: Business

Wipro’s Profit Jumps 11% in Q1, But Revenue Stays Flat

by educatekaroin News, Business, TechLeave a Comment on Wipro’s Profit Jumps 11% in Q1, But Revenue Stays Flat

Wipro started FY26 on a steady note, posting a ₹3,330 crore profit in Q1 — up 11% from last year. The boost came mainly from trimming expenses and benefiting from favorable currency movements. However, revenue didn’t move much, staying around ₹22,135 crore. The company booked big deals worth $5 billion, but its outlook for the next quarter feels cautious. CEO Srini Pallia is still hopeful about a stronger second half. AI is now a key focus, and Wipro plans to hire 10,000 freshers this year. They also declared a ₹5 dividend, keeping up with their promise of regular payouts.

Credit: YourStory

UAE’s Nvidia AI Chip Deal Hits Pause Over U.S. Security Concerns

by educatekaroin News, AI, Business, TechLeave a Comment on UAE’s Nvidia AI Chip Deal Hits Pause Over U.S. Security Concerns

A high-stakes deal allowing the UAE to buy billions in AI chips from Nvidia and other U.S. chipmakers has reportedly been put on hold over national security concerns. U.S. officials fear the chips might be smuggled to China, despite earlier assurances from the UAE and Saudi Arabia about strict controls. As tensions around tech exports rise, the U.S. is also eyeing restrictions on Malaysia and Thailand, while Malaysia just introduced a new permit rule for chip exports. Honestly, this pause shows how deeply AI hardware has become a geopolitical battleground — and how even allies are facing tighter scrutiny now.

Credit: TechCrunch

Uber Bets Big on Robotaxis with Massive Deal Involving Lucid and Nuro

by educatekaroin News, AI, Business, EV, TechLeave a Comment on Uber Bets Big on Robotaxis with Massive Deal Involving Lucid and Nuro

Uber is making a bold move into the robotaxi space by investing hundreds of millions in Lucid and Nuro, planning to launch 20,000+ autonomous SUVs starting in 2026. Lucid’s luxury Gravity SUV will be fitted with Nuro’s Level 4 self-driving tech, available exclusively through the Uber app. Honestly, this is a huge gamble, especially when both Lucid and Nuro have faced financial trouble lately. Still, Uber’s aggressive bet shows it’s serious about leading the autonomous ride market. If they pull this off, it could finally push robotaxis out of test mode and into reality — something the industry has long overpromised.

Credit: The Verge

Scale AI Lays Off 200 Staff, Shifts Focus After Meta Deal Shakeup

by educatekaroin News, AI, Business, TechLeave a Comment on Scale AI Lays Off 200 Staff, Shifts Focus After Meta Deal Shakeup

The data-labeling startup just laid off 200 employees and dropped 500 global contractors, about a month after Meta hired its CEO in a $14.3 billion deal. According to a memo, interim CEO Jason Droege admitted the company scaled too fast in its original data-labeling business. Now, Scale plans to refocus on enterprise and government sales. The timing’s tough — with major clients pulling back after Meta’s investment, Scale seems to be paying the price of rapid growth. Like other AI firms that peaked too soon, it’s now scrambling for a second act.

Credit: Bloomberg

Cognition Acquires Windsurf to Boost AI Engineering Future

by educatekaroin News, AI, Business, Funding, TechLeave a Comment on Cognition Acquires Windsurf to Boost AI Engineering Future

Cognition has officially acquired Windsurf, the agentic IDE, bringing in its product, IP, brand, and talented team. With $82M ARR, 350+ enterprise clients, and a rapidly growing user base, Windsurf strengthens Cognition’s mission to revolutionize software engineering. The Windsurf team will continue operations for now, while their tools and IP will soon integrate into Cognition’s offerings like Devin. Notably, all Windsurf employees will benefit financially and receive full equity vesting. This move signals a major leap toward the future of autonomous software development, positioning Cognition as a powerful force in the evolving AI engineering landscape.

Credit: TechCrunch

Windsurf Deal Slips From OpenAI’s Grasp, Google Wins in the AI Talent War!

by educatekaroin News, AI, Business, Funding, TechLeave a Comment on Windsurf Deal Slips From OpenAI’s Grasp, Google Wins in the AI Talent War!

In a surprise twist, OpenAI’s $3B deal to acquire AI coding startup Windsurf has collapsed — and Google swooped in smartly. Instead of buying the company, Google acqui-hired key Windsurf talent, including CEO Varun Mohan, for $2.4B. They also secured a non-exclusive license to Windsurf’s tech. The rest of Windsurf stays independent under a new interim CEO. This clever move gives Google DeepMind top AI coding brains without full acquisition hassles. Meanwhile, OpenAI is left empty-handed. The race for elite AI talent is heating up, and Google just played a masterstroke.

Credit: CNBC

Grok AI Is Coming to Tesla Cars Next Week, Says Elon Musk

by educatekaroin News, AI, Business, TechLeave a Comment on Grok AI Is Coming to Tesla Cars Next Week, Says Elon Musk

Elon Musk just confirmed that Grok, the AI chatbot built by his company xAI, is coming to Tesla cars “very soon”—possibly by next week. This update came hours after the launch of Grok 4, xAI’s latest AI model. Musk says Tesla drivers will be able to talk to their cars and ask Grok to do tasks. Firmware leaks also reveal Grok comes with wild personality modes like “therapist,” “conspiracy,” and even “NSFW.” However, it’ll only work in newer Teslas with Hardware 3. Grok will also power Tesla’s humanoid robot, Optimus.

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