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Supreme Court Considers Extending SEBI Probe in Adani Case: Stock Manipulation Allegations

Adani Enterprises

New Delhi: The Supreme Court is considering granting three additional months to SEBI to conclude its investigation into allegations of stock price manipulation by the Adani group and regulatory disclosure lapses. On May 15, a batch of PILs and a plea by the market regulator will be listed for hearing.

The court registry has received the report of the Justice (retd) A M Sapre committee, appointed by the apex court, and the bench of Chief Justices DY Chandrachud and Justices P S Narasimha and J B Pardiwala expressed its intention to review the findings before proceeding with the matter on Monday.

In the meanwhile, we will review the report. The bench said that the subject will be discussed on May 15.

The bench issued a warning to petitioner Jaya Thakur’s attorney during the hearing, reminding them that the court has not made any declarations on any regulatory failure by SEBI.

The bench emphasized the need for cautious allegations since they might affect the mood of the stock market. Based on the petitioner’s assertions, the panel was established to look into the charges.

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ShareChat Secures Nearly $49 Million from Key Investors: Report

ShareChat

ShareChat Secures Nearly $49 Million from Key Investors: Report

SharingChat, a social media site, has secured $48.8 million from its current backers, Temasek and Lightspeed, through convertible debentures.

Citing ShareChat’s regulatory filings, startup news website Inc42 stated on Wednesday that the fundraising round will assist ShareChat in “navigating the path to profitability in the next 12 to 15 months.”

The report also stated that the company is supposedly in talks with investors for a larger equity investment round.

To date, ShareChat has raised more than $1 billion in investment.

It was reported in December of last year that ShareChat planned to raise as much as $65 million from current investors.

The investment round was expected to include participation from current investors like Temasek, Tiger Global, Google, Lightspeed Ventures, and others.

As part of a strategic reorganization, ShareChat let go of 200 workers in December, representing around 15% of its total employment.

Also Read: Sergey Brin Personally Urges Google Employee to Decline OpenAI Job Offer

The decision, according to Mohalla Tech, the parent company of ShareChat and the short video entertainment app Moj, indicates the firm’s commitment to attaining profitability within the next four to six quarters and simplifying its cost base.

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ShareChat’s sales increased by 62% to Rs 540.21 crore in FY23, but its net loss increased to Rs 4,064.3 crore from Rs 2,941.5 crore in FY22.

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Sergey Brin Personally Urges Google Employee to Decline OpenAI Job Offer

Sergey Brin

Sergey Brin Personally Urges Google Employee to Decline OpenAI Job Offer

According to reports, Sergey Brin, one of Google’s cofounders, personally called a worker who was contemplating switching to OpenAI. The Information said, claiming a “longtime AI researcher” as its source, that Sergey Brin offered more money on the call to persuade the worker to remain in the position. The anonymous source stated that they were friends with the Google employee and that Sergey Brin’s action, in competing with other Big Tech companies for AI expertise, is indicative of a wider trend. The poll, however, is still quite small. However, in the Big Tech, there is an unprecedented demand for superior AI expertise.

Mark Zuckerberg’s AI plan

Not only is Google trying to steal top personnel from each other with huge compensation, but so are other big tech businesses. CEO of Meta Mark Zuckerberg allegedly offered employment at Google’s DeepMind to AI researchers via personal correspondence, without requiring them to do an interview. Mark Zuckerberg revealed in January that Meta was holding a cache of Nvidia’s extremely desirable H100 chips. By the end of 2024, Meta will have over 340,000 Nvidia H100 GPUs, he told The Verge.

Also Read: Flipkart and IIT Delhi Collaborate to Enhance Personalized Recommendations Through Persona-Based Research

What Perplexity CEO said on AI jobs

Earlier, Aravind Srinivas, the founder and CEO of Perplexity, said that his company’s lack of GPUs was the reason he was unable to hire a Meta employee. “When I attempted to recruit a very experienced researcher from Meta, you know what they said? “Return to me once you’ve acquired 10,000 H100 GPUs,” he said.

Aravind Srinivas previously stated, “Don’t look at markets and decide, you know, don’t see, oh, the market wants a sales analyst product,” when discussing working in AI. I am going to construct it. Why design an AI for sales if you don’t even care about sales? The first person to use your product must be you, therefore create what you would use and what matters to you.”

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Flipkart and IIT Delhi Collaborate to Enhance Personalized Recommendations Through Persona-Based Research

IIT Delhi

Flipkart and IIT Delhi Collaborate to Enhance Personalized Recommendations Through Persona-Based Research

The Indian Institute of Technology, Delhi (IIT-D) industry interface organization, the Foundation for Innovation and Technology Transfer (FITT), and e-commerce giant Flipkart signed a Memorandum of Understanding (MoU) on Tuesday to collaborate on persona-based research aimed at improving personalized recommendations.

As part of the agreement, Flipkart will provide FITT with market intelligence and research funding so that the latter may create detailed user segments with data that are associated with various e-commerce categories based on factors like demographics and purchasing habits.

“We are hoping to find a data-driven solution through our collaboration with IIT Delhi that will enable us to better understand our customers’ requirements and preferences, enabling us to provide persona-based suggestions and enhance the buying experience,” Flipkart’s Chief Data Scientist, Mayur Datar, said in a statement.

The company states that the research attempts to learn from a user activity graph that includes details about the different personas connected with each user and to overcome the shortcomings of current persona development technologies.

“This partnership has the potential to impact many areas by developing machine learning models that can handle real-world data that is large-scale and efficient, as well as persona-based product recommendations,” stated Sayan Ranu from IIT Delhi’s Department of Computer Science and Engineering.

Also Read: Low-Light Revolution: Redefining Smartphone Cameras in a New Era of Photography

Together, Flipkart and FITT will also work on several other projects, like seminars, conference travel grants, and company-sponsored research to help an e-commerce major, and IIT Delhi researchers will work on a project that interests both parties.

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