Tech5: xAI raises $6 billion, OpenAI offers $200 subscription, Myntra joins Q-Commerce, and more

Meanwhile, OpenAI, which closed a $6.6 billion funding round in October, has launched a version of ChatGPT at $200 per month, which can be used in engineering fields and for research, according to a separate Reuters report.

The new tier, called ChatGPT Pro, will be in addition to OpenAI's existing subscriptions of ChatGPT Plus, Team and Enterprise.

GCCs evolving to become strategic centres for innovation - ISG

Global Capability Centres (GCCs) are evolving from cost-saving tools to strategic assets for multinational firms, ISG, an influential outsourcing advisory and consultancy, notes in a recent paper. These centres now drive innovation in IT support, research and development, and process optimization, according to ISG.

The rise of AI technologies, especially generative and agentic AI, will further boost their potential. Important drivers for the growth of GCCs – India, with already some 1700 of them, is seeing a new wave – include globalization, digitalization, and advancements in specialized fields like finance, IT, and data analytics.

GCCs offer enterprises access to global talent, enhance operational efficiency, and provide strategic flexibility to adapt to market changes. As organizations look to optimize their GCCs, key focus areas include leveraging AI for productivity and exploring new ways to monetize these hubs for greater value.

Myntra enters Q-Commerce with 30 minute apparel delivery

Myntra, India’s leading fashion e-commerce platform, has launched “M-Now,” a quick-commerce service delivering apparel and lifestyle products within 30 minutes. Initially available in Bengaluru, M-Now will expand to major cities like Mumbai, Delhi, and Pune.

The service offers 10,000 styles from popular brands such as Tommy Hilfiger, Vero Moda, MAC, and Fossil, with plans to expand to 100,000 styles in the next few months. Myntra’s move comes as quick commerce gains traction in India, where the market is projected to reach $42 billion by 2030.

Myntra aims to cater to evolving consumer expectations for faster deliveries, marking it as one of the first major e-commerce players to offer quick fashion delivery at scale. 

ADB funds $50 million climate-adaptive water project in Meghalaya

The Government of India and the Asian Development Bank (ADB) have signed a $50 million loan agreement to enhance water security in Meghalaya, according to a government press release. The funds will support the Climate-Adaptative Community-Based Water-Harvesting Project, aiming to construct 532 small water storage facilities across 12 districts.

These climate-resilient systems will help manage monsoon rainfall and provide water during dry seasons. The project will improve agricultural productivity and livelihoods, particularly for women, and establish 50 weather stations for climate monitoring.

It will also develop 3,000 hectares of irrigation and pilot renewable micro-hydropower systems. ADB will assist in implementing Meghalaya’s State Water Policy, strengthening local water management capacities, and supporting community-driven water security plans.