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AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. The Global X Robotics & Artificial Intelligence ETF (BOTZ.O) received $35.5 million in net inflows in the week ending on Wednesday, its strongest since June earlier this year, according to Lipper data. "Improved inflation data and the likelihood of rate cuts in the second half of 2024 have maintained market optimism throughout November, contributing to investor interest," said Tejas Dessai, AVP, Research Analyst at Global X. So far this year, the Global X fund has gained 27.7% year-to-date, supported by the 233% rally in shares of its top holding Nvidia (NVDA.O), whose graphics processing units (GPUs) dominate the market for AI. The Global X fund, which has total net assets of $2.2 billion, has seen net inflows of $554.8 million so far this year.

Persons: Dado Ruvic, chipmaker, Aniket Ullal, Bansari Mayur, Shweta Agarwal Organizations: REUTERS, chipmaker Nvidia, Robotics, Intelligence, Federal Reserve, Tejas Dessai, Global, Nvidia, Wall, Thomson Locations: ., Bengaluru

☆ Amazon rallies on cloud optimism as it chases Microsoft for AI business
▼ + stars: | 2023-10-27 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

Smaller cloud rival Microsoft (MSFT.O) rose 1.5%, while Alphabet (GOOGL.O) was down about 1.3%. Amazon shares have rallied about 40% this year, but they have lost nearly 8% in the past two days after Alphabet (GOOGL.O) warned that cloud customers were curbing spending. In the July-September period, Amazon posted its first quarter-on-quarter increase in cloud growth in nearly two years. The 12.3% growth in AWS was slower than the 29% rise seen at Microsoft's (MSFT.O) Azure cloud business, which had topped market estimates. To be sure, Amazon's cloud business is larger than that of Microsoft and Google.

Persons: Pascal, Andy Jassy, Bernstein, brokerages, Morningstar, Dan Romanoff, Aditya Soni, Arun Koyyur Organizations: REUTERS, Microsoft, Amazon, Amazon Web Services, Reuters Graphics, Tech, Google, Tejas Dessai, Thomson Locations: Bengaluru

Microsoft's chief financial officer Amy Hood said on a conference call with analysts that higher-than-expected AI consumption was responsible for a 3 percentage point boost to its cloud business. Alphabet has prioritized snaring AI startups as customers for its cloud division, while Microsoft has relied on its existing relationships to secure larger customers. Azure revenue rose 29%, higher than a 26.2% growth estimate from market research firm Visible Alpha. RBC Capital Markets has previously estimated that Microsoft will clock over $3 billion in revenue from generative AI offerings this fiscal year. Quite surprising to see strong growth reacceleration in the Azure Cloud segment, which is clearly driven by AI-as-a-service related demand," said Global X analyst Tejas Dessai.

Persons: Microsoft's, Bob O'Donnell, Bing, Bard, Amy Hood, Krishna Chintalapalli, capex, Akash Sriram, Anna Tong, Max Cherney, Yuvraj Malik, Greg Bensinger, Stephen Nellis, Sayantani Ghosh, Sonali Paul Organizations: Microsoft, Wall, Microsoft's, TECHnalysis, Parnassus Investments, DAZZLES, Alpha, RBC Capital Markets, Reuters Graphics Microsoft, Tejas Dessai, AWS, Thomson Locations: Bengaluru, Anna, San Francisco

☆ Weight-loss drugs fuel boom for firms that fill syringes
▼ + stars: | 2023-10-09 | by ( Maggie Fick | ) www.reuters.com time to read: +6 min

[1/5] Catalent's automated visual inspection systems that check every pre-filled syringe to ensure product integrity are seen, in Brussels, Belgium, 2023. Eli Lilly's (LLY.N) Mounjaro is expected to be approved for weight-loss in the United States this year. The U.S. Inflation Reduction Act is also boosting development of biologic drugs, some of which are injected. Injectables are increasingly used in elderly care settings, and some new Alzheimer's and generic arthritis drugs are administered by injection. One healthcare investor said CDMOs' ability to boost capacity will determine how fast the obesity drug market grows.

Persons: Wegovy, it's, Savant, Morgan Stanley, Eli Lilly's, Mounjaro, Chris Chen, Cornell Stamoran, Fujifilm Diosynth, Germany's Vetter, Lilly, Marc Casper, CDMOs, Luke Sergott, Catalent, Catalent's Stamoran, Maggie Fick, Patrick Wingrove, Josephine Mason, Catherine Evans Organizations: REUTERS Acquire, Pfizer, HK, Fujifilm, Fujifilm Corp, Novo, Reuters, Research, Insight Partners, Barclays, Thomson Locations: Brussels, Belgium, Handout, United States, WuXi, Europe, GLP, Anagni, Italy, Bloomington , Indiana, U.S, New York

☆ India is a growing defense powerhouse, and now it's looking to cash in on it
▼ + stars: | 2023-10-01 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

But it has been investing heavily in its domestic arms industry with the goal of equipping its own forces and increasing its arms sales around the world. Recent arms sales and exercises illustrate how India seeks to turn that domestic arms production into foreign sales and perhaps even take some of that market away from its biggest supplier. The leaders discussed "defense platforms" and "equipment-related linkages" and deepening cooperation between their militaries and defense industries. (Egypt and India collaborated on development of the Helwan HA-300 light supersonic interceptor in the 1960s, but that project was ultimately canceled.) After all, Indian defense exports in recent years were negligible compared to heavyweights like the US and France, and New Delhi remains heavily reliant on imports.

Persons: —, JEWEL SAMAD, Swathi, Modi, Abdel Fattah al, Egypt's, Abdel Fattah el, Sisi, Narendra Modi, MANJUNATH KIRAN, Paul Iddon Organizations: Service, Getty, Armenia —, Armenia, Indian Press, Anadolu Agency, Indian, Indian Air Force, Tejas, Hindustan Aeronautics Limited Locations: India, New Delhi, Russia, Ukraine, Moscow, Armenia, East, Egypt, France, Cairo, Brahmos, Bangalore, China

☆ Nvidia's blowout results are exciting analysts so much, one of them even said the AI chipmaker will be 'most important company to civilization'
▼ + stars: | 2023-08-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

AI chipmaker Nvidia posted record second-quarter revenues of $13.51 billion. One jubilant analyst made a bold call: He thinks Nvidia will be the "most important company to civilization" in the next decade. Even Daniel Ives, an analyst at Wedbush Securities, gushed in a tweet: "It's all about AI demand and use cases. "AI needs specialized chips to run on, and trillions worth of processing chips will be up for replacement through this decade." Dessai added there are other opportunities for AI chips as they eventually make their way into other products including smartphones, laptops, cars, and medical devices.

Persons: Angelo Zino, Daniel Ives, Dessai Organizations: Nvidia, Service, Yahoo Finance, Wedbush Securities, gushed, Tejas, Global Locations: Wall, Silicon

The male cheetah, named Tejas, was one of 12 that were relocated from South Africa earlier this year, CNN News18 said. The relocation was part of a historic project to reintroduce cheetahs to India after they went extinct in the country 70 years ago. In March, Namibian cheetah Sasha died of kidney disease, and in April, South African cheetah Uday died due to cardiac failure. Just weeks later, South African cheetah Daksha died after a violent encounter with male cheetahs during a mating attempt. One Namibian cheetah relocated to India as part of a reintroduction program died from kidney infection.

Persons: CNN — India’s, CNN News18, Sasha, Uday, Daksha, Bhupender Yadav, ”, It’s, ” Yadav, Eli Walker Organizations: CNN, CNN News18, Tejas, India’s, Times, Cheetah Conservation, Cheetahs, Cheetah Conservation Fund Locations: Madhya Pradesh, South Africa, India, Namibia, Namibian, East, Saharan Africa, Africa

☆ Leaked email shows Microsoft's VP in charge of data center energy is leaving a month after his promotion, joining an executive exodus
▼ + stars: | 2023-06-29 | by ( Eugene Kim | ) www.businessinsider.com time to read: +2 min

Microsoft's VP of Energy Brian Janous is leaving. Brian Janous, Microsoft's VP in charge of data center energy strategy, is leaving just a month after being promoted to his current position, Insider has learned. Janous spent more than 11 years at Microsoft, primarily overseeing the company's cloud infrastructure energy and sustainability efforts. He was the first employee on Microsoft's energy team and was promoted to VP of Energy in June 2023, according to his Linkedin page. Janous is the latest executive to leave Microsoft's broader Cloud Operations and Innovations team, which manages the company's all-important cloud infrastructure.

Persons: Energy Brian Janous, Janous, Brian Janous, Microsoft's, Aditya Dalmia, Brian, Noelle Walsh, Scott Guthrie, Jennifer Weitzel, Osvaldo Morales, Michael Czamara, Dan Madrigal, Jeffrey Cox, Eugene Kim Organizations: Energy, Microsoft, Microsoft's CVP, Cloud Infrastructure, Planning, Industry, Operations, Innovations, Cloud Infrastructure Lease, Data, GM, Tejas Sukhadia, Innovation Locations: Microsoft's

☆ Why GE plan to make fighter jet engines in India is a big deal
▼ + stars: | 2023-06-22 | by ( Yp Rajesh | ) www.reuters.com time to read: +4 min

GE says it has delivered more than 1,600 F414 engines and they have clocked more than 5 million flight hours. So far, 75 F404 engines have been delivered and another 99 worth $716 million are on order for Tejas Mark 1. Tejas Mark 2, still under development, is a more powerful jet and needs a bigger engine. The GE-HAL deal to co-produce F414 engines in India requires U.S. government and legislative approvals. Full scale production of F414 in India and Tejas Mark 2 is expected only early in the next decade.

Persons: Narendra, INDIA’S, Conor Humphries Organizations: General Electric, Hindustan Aeronautics, Indian Air Force, Indian, GE, U.S . Navy, HAL, Tejas, Aircraft, India's Air Force, New, YP Rajesh, Thomson Locations: DELHI, India, United States, U.S, Sweden, Australia, Kuwait, Brazil, South Korea, Indonesia, New Delhi, Washington, China, Pakistan, Russia, France, Israel

☆ Factbox: Flurry of US-India deals on AI, defense as Biden, Modi meet
▼ + stars: | 2023-06-22 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

The following is a roundup of the major announcements:VISASThe Biden administration will make it easier for Indians to live and work in the United States. The United States intends to open new consulates in Bengaluru and Ahmedabad. India is opening a new consulate in Seattle this year and will soon announce two new consulates in the United States. The MQ-9Bs will be assembled in India, a joint statement said, and U.S. manufacturer General Atomics will also establish new facility in India. ADVANCED COMPUTINGIndia and the United States established a Joint Indo-U.S. Quantum Coordination Mechanism to facilitate joint research between the public and private sectors across both countries.

Persons: Narendra Modi, Joe Biden, Biden, Katherine Tai, Vikram Solar, Electric's, General Atomics, Atomics, Jarrett Renshaw, Heather Timmons, Grant McCool Organizations: Indian, U.S, The State Department, United, INDIA, Micron Technology, Micron, United States Trade, World Trade Organization, Minerals Security Partnership, European Union, India’s Epsilon Carbon, VSK Energy, JETS, Hindustan Aeronautics Ltd, Indian Air Force, GE Aerospace's, Tejas, GE, Reuters, SPACE, Artemis Accords, NASA, International Space Station, Thomson Locations: Washington, United States, U.S, Bengaluru, Ahmedabad, India, Seattle, Gujarat, US, Colorado, China, SPACE India

☆ GE to jointly produce fighter jet engines in India
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Indian Air Force (IAF) LCA Tejas performs an aerobatic display during the Aero India 2023 air show at Yelahanka air base in Bengaluru, India, February 13, 2023. REUTERS/Samuel Rajkumar/File PhotoJune 22 (Reuters) - General Electric's (GE.N) aerospace unit said on Thursday it has signed an agreement with India's state-owned Hindustan Aeronautics Ltd (HIAE.NS) to make fighter jet engines for the Indian Air Force. The agreement includes the potential joint production of GE Aerospace's F414 engines in India and the engines will be used to power Tejas fighter jets, GE said. Reuters reported in May the Biden administration was poised to sign off on a deal that would allow GE to produce jet engines powering Indian military aircraft. GE first began working with Hindustan Aeronautics and the Aeronautical Development Agency in 1986 to support the development of India's light combat aircraft with F404 engines.

Persons: Samuel Rajkumar, Electric's, Narendra Modi, Biden, Aishwarya Nair, Varun, Shounak Organizations: Indian Air Force, IAF, LCA Tejas, Aero, REUTERS, Hindustan Aeronautics Ltd, Indian, GE Aerospace's, Tejas, GE, Hindustan Aeronautics, Reuters, Aeronautical Development Agency, Thomson Locations: Aero India, Bengaluru, India, United States, Washington

☆ 5 stocks that are best-positioned over the next 10 years to capitalize on the AI boom promising to transform the economy, according to Global X's lead AI researcher
▼ + stars: | 2023-06-14 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Tejas Dessai says AI is still in its early stages, and he's taking a long-term investing outlook. Dessai is the lead AI researcher at Global X. The firm's AI ETF is up 38% this year. According to Dessai, the lead AI research analyst at ETF issuer Global X, AI adoption throughout the economy will be a slow process and likely span the next decade. Dessai's research helps inform the holdings in the Global X Artificial Intelligence & Technology ETF (AIQ), which is up 38.6% this year.

Persons: Dessai Organizations: Tejas, Global, Nvidia, Meta, Tejas Dessai, Intelligence, Technology, TrueMark Technology, Learning, Facebook, Google

☆ GE nears deal with India's Hindustan Aeronautics to co-manufacture fighter jet engines
▼ + stars: | 2023-06-09 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

General Electric is in final discussions to cement a partnership with India's Hindustan Aeronautics Ltd. to co-manufacture jet engines in the country, CNBC has learned. Earlier this week, U.S. Defense Secretary Lloyd Austin visited India and discussed the jet engine deal with Indian officials, sources told CNBC. The nature of the agreement — whether it will be labeled a partnership, joint venture or co-assembly — still remains to be seen. The potential GE deal comes as India's economy has grown exponentially, drawing more interest from corporate giants like Apple , Google and Amazon . "We certainly see a lot of activity brewing in India," GE CEO Larry Culp told CNBC in late April, weeks after Air India placed a massive order for more than 800 GE LEAP engines.

Persons: Cope, Narendra Modi, Lloyd Austin, Richard Rossow, India —, Daniel Silverberg, Tim Cook, Modi, Silverberg, Larry Culp Organizations: Indian Air Force, IAF, Tejas, The United States Air Force, USAF, General, India's Hindustan Aeronautics Ltd, CNBC, Indian, Washington , D.C, . Defense, GE, U.S . State Department, Capitol, State Department, Pentagon, Center for Strategic, International Studies, Washington, Capstone, Apple, Google, GE Aerospace, Air India Locations: Kalaikunda, India's West Bengal, Washington ,, India, U.S, Russia, Asia, China

☆ 94.5% of creators use AI to help them make content, according to a new survey of 660 influencers
▼ + stars: | 2023-05-10 | by ( Marta Biino | ) www.businessinsider.com time to read: +3 min

The firm surveyed 660 creators based in the US on how they use AI, among other topics. 94.5% of them said they use AI, with editing content and image generation being top ways. And for those who are in the business of creating content, AI that can help streamline creative work can be especially enticing. The top three ways chosen were editing content, generating images and videos, and creating text and captions for accessibility. "If you're a content creator, people follow you for your storytelling, your unique point of view.

☆ Indian shares set to open higher as strong earnings lift mood
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, April 24 (Reuters) - Indian shares were set to open higher on Monday as improved quarterly results from heavyweights Reliance Industries Ltd (RELI.NS) and ICICI Bank Ltd(ICBK.NS) eased some concerns over a lacklustre start to the earnings season. India's most valuable company, Reliance Industries reported 19% growth in fourth-quarter profit, aided by the strong performance in oil-to-chemicals (O2C) segment, post market hours on Friday. Private lender ICICI Bank posted a 30% jump in net profit in the March quarter, helped by improved net interest income and loan growth. The strong earnings of the two companies, which account for nearly 20% of the total weightage in Nifty 50, could improve the sentiment soured by the weak earnings and outlook of top information technology companies, analysts added. Stocks to Watch:** Yes Bank Ltd (YESB.NS): Lender's net profit slumps 45% in the March quarter on higher provisions.

☆ TikTok went big at SXSW and creators discussed building lasting businesses. Here are 3 takeaways that I left Austin with.
▼ + stars: | 2023-03-15 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +8 min

Creators gathered at Meta's Austin, TX offices for a series of talks hosted by the Asian Creator House. Whether creators were talking about pay transparency, or startups were pitching their products as solutions, creator monetization was an ongoing conversation at SXSW. "More and more creators are being transparent as to how much they're making," said Monica Ravichandran, creator and Collective Voice staffer. At the Asian Creator House, led by Always Be Creating cofounders Justin Nguyen and Jerry Won, creator pay and business building were also top of mind. But on the brand and marketing side of SXSW, AI wasn't a potent topic, according to Influencer's Penchin.

☆ Why AI stocks could return outsized performance in the next 18 months, and 7 leading names with direct exposure, according to an ETFs analyst
▼ + stars: | 2023-02-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

There are mature, large-cap companies that investors could stick to for exposure to the sector. A sudden interest in artificial intelligence has brought the more than decade-old technology to the forefront of investors' minds. It has additional ETFs focused on sectors that will be heavily impacted by AI including the Cloud Computing ETF (CLOU) and Cybersecurity ETF (BUG). They are broken down into innovators, early adopters, early majority, late majority, and finally, the laggards. Mature companies like Microsoft that are developing AI use cases could move AI into a mature stage rapidly.

☆ A first-of-its-kind fighter jet landing shows India's big ambitions for its growing aircraft carrier fleet
▼ + stars: | 2023-02-23 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +7 min

Two fighter jets landed on and took off from India's new aircraft carrier, INS Vikrant, this month. The continued growth of India's carrier fleet reflects New Delhi's ambitions in the region. Indian carriersA naval variant of India's Tejas fighter jet lands on INS Vikrant on February 6. Indian navyThough Vikrant is India's first domestically built carrier, it is actually the fourth to enter service with the Indian Navy. The third carrier, INS Vikramaditya, is a modified Kiev-class carrier India purchased from Russia in 2004.

☆ YouTubers and creator-economy insiders react to the sudden CEO shake-up, and describe the challenges that will define the future of the platform
▼ + stars: | 2023-02-18 | by ( Amanda Perelli | Marta Biino | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

YouTube CEO Susan Wojcicki is stepping down, and being replaced by chief product officer Neal Mohan. YouTube chief Susan Wojcicki's sudden announcement on Thursday that she is stepping down has sent shockwaves through the creator community. Wojcicki has been YouTube's CEO since 2014, and joined parent company Google in 1999 as its first marketing manager. Chief product officer Neal Mohan will be taking over her role, having previously been in charge of key products like the short-video platform YouTube Shorts and launched subscription services YouTube Premium and YouTube TV. "Susan understood from the beginning the importance of content creators on YouTube," said Alessandro Bogliari, CEO and cofounder of The Influencer Marketing Factory.

☆ India's HAL in talks on Tejas fighter jet exports, faces Malaysia setback
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

He said in Malaysia there had been a "slight setback" amid stiff competition with a Korean rival. "We have not received anything in black and white, but we are hearing that Koreans will get the order," Ananthakrishnan said. HAL is also in talks with the Philippines to sell its light-combat helicopters, he added. HAL is targeting export sales of 25 billion Indian rupees ($302.15 million) over the next few years, its director of operations Jayadeva EP told Reuters. The Tejas has been beset by design and other challenges, and was once rejected by the Indian Navy as too heavy.

☆ Marc Lore co-founded Jet.com and ran e-commerce at Walmart. Now he's out to prove he can make the delivery of 'fast fine' restaurant food work in NYC.
▼ + stars: | 2023-02-14 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

Instead of using kitchen vans, Wonder is preparing chef-driven meals from a storefront. Lore, who cofounded the e-commerce site Jet.com and sold it to Walmart, had plans to expand Wonder to a fleet of 1,000 kitchen vans. Storefronts can offer consumers up to 30 food brands for delivery from one location, while the van model was limited to two menus per van. ClusterTruck, a Midwest ghost kitchen that controls everything from the food recipes to delivery, is another model similar to Wonder. Still, Lore sees the value of marketing Wonder's food brands on delivery apps.

BENGALURU, Feb 13 (Reuters) - India wants to more than triple annual defence exports to $5 billion by 2024/25 from $1.5 billion currently as it looks to ramp up domestic manufacturing, Prime Minister Narendra Modi said on Monday while inaugurating the Aero India show. "Today, India is not just a market for defence companies, it is also a potential defence partner," Modi said in his speech at the show. "I call on India's private sector to invest more and more in the country's defence sector." India, for decades one of the world's biggest importers of defence equipment, now exports to 75 countries, he added. India's airlines are also expanding, with Tata Group's Air India expected to announce a potentially record deal to buy nearly 500 jets from Airbus and Boeing, worth more than $100 billion at list prices.

[1/4] An Indian Air Force (IAF) light combat aircraft "Tejas" flies during the "Aero India 2021" air show at Yelahanka air base in Bengaluru, India, February 3, 2021. Indian carriers may buy 1,500 to 1,700 aircraft in coming years, CAPA said, including Air India and IndiGo. MILITARY, COMMERCIAL COMPETITION"The days of foreign companies selling directly to India are over," a defence industry source told Reuters. At the same time, airlines like Air India are seeking to go head-on with rivals like Emirates Airline (EMIRA.UL) for a bigger share of international passenger flow. India's pressing military air need is to shore up its fighter squadrons, which have fallen to 31 from the approved 42 as political and bureaucratic hurdles and lack of funds delay purchases.

☆ Lyft says lower prices to hit profit, shares drop 30%
▼ + stars: | 2023-02-10 | by ( Nivedita Balu | ) www.reuters.com time to read: +3 min

President John Zimmer said in an interview with Reuters that the company planned "lower prices" and fewer hours of peak pricing, which he called "less prime time." Lyft had room to lower prices because the market was strong, he added. Uber shares were down 2.5%, a day after Uber reported a surprise fourth-quarter profit and forecast a current-quarter profit well above the average analyst estimate. Lyft forecast first-quarter revenue of about $975 million, below analyst estimates of $1.09 billion, according to Refinitiv data. Chief Financial Officer Elaine Paul blamed the forecast on seasonality and lower prices, including fewer Prime Time hours.

☆ Lyft shares plunge as lower pricing plan weighs on revenue forecast
▼ + stars: | 2023-02-09 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

"Which means lower prices and less prime time." Lyft forecast first-quarter revenue of about $975 million, which fell below analyst estimates of $1.09 billion, according to Refinitiv data. Lyft forecast first-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a key measure of profitability that strips out some costs, of between $5 million and $15 million. For the fourth quarter, Lyft reported an adjusted EBITDA of $126.7 million, excluding the $375 million it had set aside for increasing insurance reserves. Active riders rose 8.7% to 20.36 million for the fourth quarter, Lyft said, above the FactSet estimate of 20.30 million.

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