Tech5: Quad leaders announce Cancer Moonshot, race begins to buy Intel

Forbes India's daily tech news bulletin with five headlines that caught our attention

By Harichandan Arakali Forbes India Staff

Published: Sep 23, 2024 10:28:55 AM IST

Updated: Sep 23, 2024 10:35:50 AM IST

US President Joe Biden (3R) participates in a Quadrilateral Summit family photo with Australian Prime Minister Anthony Albanese (L), Indian Prime Minister Narendra Modi (2L), and Japanese Prime Minister Fumio Kishida (R) at the Archmere Academy in Wilmington, Delaware, on September 21, 2024. Image: Brendan Smialowski / AFP

Quad Summit: Cancer Moonshot, science and tech initiatives announced

The leaders of the Quad nations, Prime Ministers Narendra Modi of India, Anthony Albanese of Australia, Kishida Fumio of Japan, and US President Joe Biden unveiled the Quad Cancer Moonshot, a collaborative effort aimed at combating cancer in the Indo-Pacific region, according to the statement released by the four leaders, called The Wilmington Declaration, on September 21. Building on its experience in responding to the Covid pandemic, this partnership will initially focus on cervical cancer, a preventable disease that continues to affect many lives.

Apollo Global Management offers to invest up to $5 billion in Intel

Apollo Global Management has proposed a potential multibillion-dollar investment in Intel, signaling support for the chipmaker's turnaround efforts, Bloomberg reported yesterday. The investment could reach up to $5 billion, although discussions are still in preliminary stages, according to the report. Meanwhile, Qualcomm CEO Cristiano Amon is personally involved in early negotiations to acquire Intel, Reuters reported on Sep. 20. Under CEO Pat Gelsinger, Intel is undergoing a difficult transformation to introduce new products and technologies, even as Nvidia’s GPUs have come to completely dominate the market for AI chips. Intel has lost about 60 percent of its market value from the beginning of this year.

Vodafone Idea strikes $3.6 billion network upgrade deal

Vodafone Idea has struck a $3.6 billion deal with Nokia, Ericsson, and Samsung to upgrade its network, the struggling Indian mobile services provider told the stock exchanges on September 22. This initiative aims to enhance 4G services and roll out 5G in key areas over the next three years, as part of a broader $6.6 billion capex plan. Nokia and Ericsson are existing partners, while Samsung joins as a new vendor. The contract will be financed through funds raised in a recent $2.2 billion share sale, and Vodafone Idea is also in advanced negotiations for Rs. 35,000 crore ($4.2 billion) in loans and bank guarantees. Equipment delivery is expected to commence in the upcoming quarter.

Princeton Digital Group to invest $1 billion in India data centre expansion

Princeton Digital Group (PDG) has announced a $1 billion expansion in India, increasing its total capacity to 230 MW across Mumbai and Chennai as part of a broader $5 billion investment to develop AI-ready data centers in Asia, the company said in a press release on Sep. 20. Key highlights include the expansion of the MU1 campus in Mumbai to 150 MW, making it one of the city’s largest data center campuses, and the launch of a new 72 MW AI-ready campus (CH1) in Chennai, strategically located in a major cloud hub. Both facilities will support high-density AI deployments and incorporate advanced cooling technologies to meet rising demand.

Physics Wallah raises $210 million in Series B funding

Physics Wallah has successfully closed its Series B funding round, raising $210 million at a post-money valuation of $2.8 billion, the edtech company said in a press release on September 20. The Indian startup unicorn was previously valued at $1.1 billion. The new investment was led by Hornbill Capital and saw participation from Lightspeed Venture Partners, along with existing investors GSV and WestBridge.

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