Forbes India's daily tech news bulletin with five headlines that caught our attention
Other big contributions came from Microsoft, which is said to have reported a little less than $1 billion, according to reports citing the Wall Street Journal, and SoftBank, which has invested $500 million.
Additional notable investors included Khosla Ventures, Fidelity Management, Tiger Global Management, Ark Investment Management and Nvidia. Reuters reports that the company is on track to generate $3.6 billion in revenue this year while losses rise to over $5 billion. OpenAI is projecting revenue of $11.6 billion next year.
The South Korean tech giant had 267,800 employees at the end of 2023, and 147,000 were based overseas, according to its latest sustainability report, Reuters noted on September 11. Manufacturing and development accounted for most of them, sales and marketing staff was around 25,100, and 27,800 people worked in other areas.
The job cuts were already underway and Samsung's Indian unit was already offering severance packages to some mid-level employees who had left in recent weeks. Of the 25,000 or so employees in India, about 1,000 will be given the pink slip, according to Reuters.
Recent court documents revealed that the US Justice Department has issued a demand for documents related to 94 civilian agencies that procured over $2 billion in SAP products since 2014, suggesting a significant escalation from prior inquiries that primarily examined military overcharges, according to Bloomberg.
A SAP spokesperson confirmed that both SAP and its US unit have been cooperating since receiving document requests in August 2022, although the company claims the information provided has been narrowly focussed, according to Bloomberg.
Microsoft will “continue to invest in mixed reality opportunities with first-party software solutions and services, partnering the broader mobile phone and mixed reality hardware ecosystem”, according to the email, as cited by The Verge.
Microsoft has a US defence contract to develop an Integrated Visual Augmented System. Last month, the company teamed up with Anduril, a defence deeptech startup, to collaborate on that project.
BSV, along with its subsidiaries, specialises in research, manufacturing and distribution of pharmaceuticals, biotech formulations, and medical devices, focusing on therapeutic areas such as gynaecology and critical care. A detailed order from the Commission is expected to follow.