Microsoft & Amazon's $1 Bn Deal🤝, Foxconn-Nvidia AI Partnership💼
X's Anti-Bot Initiative, Swiggy's Skyrocketing Valuation, Big Banks Dive into Large Language Models, Funding Deals and more.
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Tech Updates
Microsoft and Amazon Forge Historic $1 Billion Cloud Deal💼
In a groundbreaking move, Microsoft is set to welcome Amazon.com as a major client for its cloud-based 365 productivity suite in a deal valued at over $1 billion, as reported by Business Insider. This landmark collaboration between the longtime competitors signals a significant shift in the tech landscape. 💻
Foxconn and Nvidia Collaborate on AI Factories🤝
Foxconn, the world's leading contract manufacturer based in Taiwan, is partnering with Nvidia to build artificial intelligence data factories. These facilities, utilizing Nvidia chips and software, will be instrumental in producing products like self-driving cars.🏭🚗
X Introduces "Not a Bot" Program to Combat Bots and Spammers🤖
In a bid to combat bots and spammers, X (formerly Twitter) is launching the "Not a Bot" program. Under this initiative, new users in New Zealand and the Philippines will be charged an annual subscription fee of $1 for unverified accounts. This move aims to enhance the platform's user experience by reducing the presence of malicious bots and improving overall interactions. 💸
Swiggy's Valuation Soars to $7.8 Billion According to Invesco🍔
US asset manager Invesco has significantly raised its valuation of Swiggy, the popular food and grocery delivery platform, marking it at $7.8 billion as of July 31. This valuation represents a substantial increase of 42% from the previous assessment made on April 30, which valued Swiggy at $5.5 billion. 🚀
Big Banks Harness Large Language Models for Enhanced User Experience🏦
Major banks like HDFC Bank and Axis Bank are making strides in implementing private Large Language Models (LLMs) trained on their internal data. By leveraging these advanced models, these financial institutions aim to enhance user experience interfaces significantly. This move not only drives efficiencies but also fosters more responsive and intuitive interactions. 🌐
Funding Deals
Business-to-business e-commerce unicorn Zetwerk for custom manufacturing has raised $120 million led by Avenir Growth Capital but its valuation remained flat in Series F financing round.
Tech sports brand Game Theory has raised $2 million in a pre-Series A funding round from a bunch of investors like Nitin Kamath’s Rainmatter, Rohan Bopanna, WEH Ventures, Prequate Advisory and Balakrishna Adiga.
Omnivio, an e-commerce and omni-logistics platform for enterprises, has raised $1.02 million in its seed round led by Caret Capital, formerly known as Supply Chain Labs. The round also saw participation from investors including Blume Ventures, Eximius VC, SuniconVenture Fund, Misfits, and several angel syndicates and individual investors from India, Middle East, and SouthEast Asia.
Done Deal, a data-driven platform, has raised $800,000 in its pre-seed round led by Gruhas, a VC fund launched by Nikhil Kamath and Abhijeet Pai. The round also saw participation of several strategic early-stage venture capital firms, such as The BarberShop with Shantanu – Raisers Edge, WFC, Capital-A, Dezerv Innovation Fund, ICE.VC, and prominent angel investors.
Tweet of the day🐥
“Life may not always be the party you hoped for, but while you’re here you can still choose to dance.”
Thanks for reading till the end!