Corporate Updates
Elon Musk’s wealth has surged past $800 billion after SpaceX acquired his AI company xAI.
The merged firm, valued at around $1.25 trillion, boosts Musk’s stake and strengthens SpaceX as his most valuable asset. The deal unites AI, space technology, satellite internet, and social platform X, with a potential SpaceX IPO later this year.
This landmark move makes Musk the richest person in history, setting a new benchmark in personal wealth.
Private equity firm ChrysCapital has acquired a minority stake in Nash Industries, a Bengaluru-based design and manufacturing solutions company, marking a significant investment in India’s fast-evolving manufacturing sector. While the financial details of the transaction were not officially disclosed, sources indicate the deal values Nash Industries at around ₹6,000 crore, with ChrysCapital picking up an estimated stake of about 30 per cent.
Founded more than five decades ago, Nash Industries has transformed from a sheet-metal components maker into a full-stack, design-led manufacturing platform. The company offers integrated mechanical, electrical, and electronics manufacturing services, including end-to-end “box-build” solutions. It caters to a wide range of industries such as data centres, banking hardware, clean energy, automotive, and industrial equipment.
Nash currently operates around 15 manufacturing facilities across South and West India and serves both domestic and international clients. Over the years, the company has focused on higher-value engineering and design capabilities, enabling it to move up the manufacturing value chain and become a preferred partner for global customers.
ChrysCapital’s investment comes at a time when Indian manufacturing is gaining momentum due to shifting global supply chains, increasing focus on China-plus-one strategies, and strong policy support through initiatives such as “Make in India.” The partnership is expected to help Nash accelerate capacity expansion, invest in advanced technologies, and strengthen its presence in export markets.
Commenting on the development, Nash Industries Chairman Sanjay Wadhwa said the investment validates the company’s long-term strategy and will support its next phase of growth. He added that the partnership would enhance Nash’s ability to deliver innovative, high-quality solutions to customers across sectors.
From ChrysCapital’s perspective, the firm sees Nash as well-positioned to benefit from growth in emerging areas such as data centres, artificial intelligence-led infrastructure, and energy transition-related manufacturing. The private equity firm has a strong track record of backing Indian companies in sectors with long-term structural tailwinds.
Also Read: Adani Defence and Leonardo join hands to build helicopters in India
Varun Beverages Ltd reported a 33% rise in consolidated net profit to ₹260 crore for the December quarter, compared with ₹196 crore a year ago.
Revenue from operations increased 14% to around ₹4,204 crore, supported by strong demand across markets. Total sales volumes grew 10.2% to 237.1 million cases, with India recording 10.5% growth and international operations rising 10%.
The company also posted improved operating performance during the quarter. Varun Beverages, a key PepsiCo bottler, said better product mix and wider distribution helped sustain growth momentum despite cost pressures.
Markets rallied sharply on Tuesday as optimism over the newly announced India-US trade deal lifted investor sentiment where the BSE Sensex jumped 2,073 points to close above 91,000, while the Nifty50 crossed 25,700.
The trade agreement, which eases tariffs and strengthens bilateral trade, spurred buying across key sectors, particularly banking, IT, and autos. Heavyweights like Reliance Industries, HDFC Bank, and Infosys led the gains, while mid-cap and export-oriented stocks also saw strong momentum.
Welspun Living, LT Foods, Aarti Industries, Ather Energy, and Trident saw significant gains, along with IT and auto stocks such as Infosys, HCL Tech, and TCS.
Some counters lagged amid profit booking, including Aegis Vopak, PB Fintech, Global Health, NALCO, MRPL, and Campus. Heavyweights like ONGC and Coal India also closed lower despite the broader rally.
This surge reflects renewed investor confidence, fueled by expectations that the trade deal will boost exports and attract foreign investments.
Also Read: India eyes higher 49% FDI in public banks
The Indian government is considering raising the foreign direct investment (FDI) limit in public sector banks (PSBs) from 20% to 49% to attract capital and strengthen state-owned banks.
Officials say the proposal is under discussion, and the government would still retain majority control. Currently, private banks allow up to 74% foreign ownership.
Raising the limit for PSBs is part of efforts to boost capital, support growth, and make public banks more competitive, while keeping government oversight intact.
Global oil prices declined sharply after fresh signals suggested a possible easing of tensions between the United States and Iran, calming fears of supply disruptions that had driven prices higher in recent weeks.
Brent crude futures slipped by nearly 5%, falling back to around $66 a barrel, while US West Texas Intermediate (WTI) crude also dropped by a similar margin. The decline marked one of the steepest daily falls this year, as traders rushed to lock in profits after a strong rally in January.
The sell-off followed comments from US President Donald Trump indicating that Washington and Tehran were “seriously negotiating” over Iran’s nuclear programme. These remarks raised hopes that diplomatic engagement could replace confrontation, lowering the risk of conflict in the Middle East, a region critical to global oil supplies.
Until now, oil prices had been supported by fears that escalating tensions could disrupt shipments through key routes such as the Strait of Hormuz. Those concerns eased after there were no new military developments over the weekend and no signs of immediate escalation from either side.
Market analysts said the fall was driven by a sharp unwinding of the geopolitical risk premium that had been built into crude prices. Brent and WTI had climbed more than 10% last month amid worries over potential supply shocks.
A stronger US dollar also weighed on oil prices, making commodities more expensive for buyers using other currencies. In addition, broader commodity markets softened, with gold and silver giving up recent gains as investors moved away from safe-haven assets.
Supply-side factors added to the pressure. OPEC and its allies, including Russia, have signalled no immediate change to production plans, reducing concerns about tighter supply in the near term. Meanwhile, expectations of steady global demand growth have kept traders cautious about pushing prices higher.
Despite the decline, analysts warned that oil markets remain highly sensitive to geopolitical headlines. Any setback in talks or renewed tensions could quickly reverse the current trend.
Also Read: Capgemini to exit US unit linked to migrant tracking
Snowflake has entered into a $200 million multi-year partnership with OpenAI to bring advanced generative AI capabilities directly to its enterprise data platform, marking a major push to capture the fast-growing corporate data intelligence market.
Under the agreement, OpenAI’s latest models, including GPT-5.2, will be embedded into Snowflake’s AI Data Cloud. This will allow businesses to analyse, query and act on their own data using natural language, without moving sensitive information outside Snowflake’s secure environment.
The integration will enable companies to build AI-powered applications and automated “AI agents” that can reason over enterprise data, generate insights, and support tasks such as reporting, forecasting and operational decision-making. Snowflake says the move is aimed at making advanced AI accessible to business users, not just data scientists.
A key aspect of the partnership is that OpenAI models will be available natively within Snowflake’s ecosystem, including its Cortex AI and Snowflake Intelligence products. This reduces reliance on third-party platforms and allows customers to deploy AI tools across major cloud providers such as Amazon Web Services, Microsoft Azure and Google Cloud.
Executives from both companies stressed that data security, governance and compliance remain central to the offering. Enterprise data will stay within Snowflake’s controlled environment, addressing concerns around privacy and regulatory requirements as companies scale AI adoption.
Several early users, including design platform Canva and fitness technology company WHOOP, have already begun using the integrated tools to speed up data analysis and automate internal workflows.
The announcement was welcomed by investors, with Snowflake shares rising after the deal was made public. Analysts view the partnership as a strategic move that strengthens Snowflake’s position against rivals in the enterprise data and AI space, as companies increasingly seek ways to combine trusted data platforms with powerful generative AI.
The Supreme Court has sharply criticized WhatsApp and Meta over their privacy policies, warning that foreign tech firms must follow Indian laws or exit the country. Chief Justice Surya Kant said: “If you can’t follow our Constitution, then leave India.”
The case relates to WhatsApp’s 2021 privacy update, which required users to share data with Meta. The Competition Commission of India (CCI) fined WhatsApp ₹213 crore for abusing its market dominance, and this decision was partially upheld by the NCLAT. Meta has challenged the penalty in the Supreme Court.
The court raised concerns about informed consent, noting that millions of users may not fully understand complex privacy terms. It stressed that private user data cannot be exploited commercially for targeted ads.
As an interim measure, WhatsApp has been ordered not to share user information with Meta until the case is resolved. The government, through the Ministry of Electronics and IT, has been made a party to the case to ensure compliance with India’s Digital Personal Data Protection Act.
The bench emphasised that fundamental privacy rights cannot be compromised for business gains, and the matter will be heard further in the coming weeks.
Also Read: Palantir Q4 revenue $1.41bn, stock jumps 8%
Palantir Technologies Inc. reported a strong fourth-quarter performance, beating Wall Street expectations and pushing its shares higher in after-hours trading. The company posted Q4 revenue of $1.41 billion, up 70% year-on-year, with adjusted earnings per share of $0.25, above analyst estimates of $0.23.
CEO Alex Karp called the results exceptional, highlighting Palantir’s focus on scaling AI-driven operations to meet growing demand.
Following the earnings release, shares rose 8% in after-hours trading, reflecting investor confidence in Palantir’s growth trajectory. The US market was a key driver, with total revenue up 93% year-on-year to roughly $1.08 billion. US commercial sales climbed 137% to $507 million, while US government revenue increased 66% to $570 million.
The company closed 180 deals worth $1 million or more in the quarter, bringing total contract value to $4.26 billion, up 138% year-on-year. These figures highlight Palantir’s expanding presence across enterprise and government sectors.
Looking ahead, Palantir expects full-year 2026 revenue of $7.18–$7.20 billion, a 61% increase from 2025, surpassing analyst projections. For Q1 2026, revenue is projected at $1.53–$1.54 billion, also above expectations.
Also Read: Bitcoin faces sharp fall during market chaos
Bitcoin has fallen to its lowest level since the 2025 tariff shock, dropping roughly 7% to $76,500 before slightly recovering to $78,000, about 11% below early-year levels.
The decline highlights growing caution among investors as geopolitical tensions and expectations of tighter monetary policy weigh on markets.
Long seen as “digital gold,” Bitcoin is increasingly behaving like a risk-sensitive asset. The downturn has also affected major altcoins, prompting corporate and institutional investors to carefully reassess exposure and balance potential opportunities against market volatility.