Author: Sreelatha M

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Corporate

Alphabet Inc. sees strong growth as AI, cloud demand surges

Alphabet Inc., the company behind Google, has reported a strong start to 2026, with its latest earnings showing how quickly artificial intelligence (AI) and cloud computing are becoming central to its business.

The company’s revenue grew significantly in the first quarter, crossing the $100 billion mark, while profits jumped sharply compared to last year. This growth reflects the rising demand for AI-powered services across the world.

A big part of this success came from Google Cloud, which continues to expand rapidly. More businesses are turning to cloud platforms to run their operations, and many are now using AI tools built into these services. This has made cloud computing one of Alphabet’s fastest-growing segments.

CEO Sundar Pichai said AI is now deeply integrated across Google’s products, from search and YouTube to Gmail and enterprise tools. These AI features are helping users get faster results, better recommendations, and smarter tools for work and daily use.

Alphabet is also investing heavily to stay ahead in the AI race. The company is building more data centres and developing advanced chips to handle the growing demand for AI processing. These investments are expensive, but the company believes they are necessary for long-term growth.

Despite rising competition, Google’s core search business remains strong. Improved AI features are helping the company maintain user engagement and advertising revenue.

Another encouraging sign is the growing demand pipeline for cloud services. Alphabet has a strong order backlog, which means many customers have already committed to using its services in the future.

At the same time, the company recently introduced new tools, including AI-driven agents that can help developers automate tasks more efficiently. These innovations show how Google is trying to stay competitive in a fast-changing tech landscape.

Also Read: Vedanta Ltd demerger nears completion, shares to list by June

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Corporate

Sensex falls 1,100+ points, Nifty dips below 23,800

Indian stock markets witnessed a sharp decline on April 30, 2026, as global concerns triggered heavy selling across sectors. The Sensex fell over 1,100 points, while the Nifty slipped below the 23,800 mark during intraday trade, reflecting weak investor sentiment.

The main pressure on the market came from rising crude oil prices, which surged to multi-year highs due to escalating geopolitical tensions in the Middle East. The conflict has raised fears of supply disruptions through key global shipping routes, pushing inflation expectations higher.

Another key factor affecting sentiment was the cautious stance of the US Federal Reserve, which signaled continued uncertainty over interest rate cuts. This added to global market volatility and reduced risk appetite in emerging markets like India.

All major sectors were under pressure, with banking, IT, energy, and metals witnessing notable declines. Heavyweight stocks such as HDFC Bank, ICICI Bank, Reliance Industries, and Tata Motors were among the biggest drags on the indices.

Foreign institutional investors also continued selling, adding further pressure on domestic markets. Broader indices like midcaps and smallcaps also ended lower, showing widespread weakness across the market.

Despite the overall decline, stock-specific action remained active. Bajaj Finance stood out as one of the few gainers, supported by strong earnings performance and steady financial outlook. Select FMCG and defensive stocks also managed to hold ground amid the volatility.

Also Read: Anant Ambani offers to relocate Colombia hippos

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Corporate

Eternal profit jumps 346% in Q4 to ₹174 cr

Eternal, the parent company of Zomato and Blinkit, reported a sharp rise in profit for the January-March quarter, with net profit surging 346% year-on-year to ₹174 crore. The strong earnings were supported by rapid growth in its quick commerce arm Blinkit and steady performance in food delivery.

Revenue from operations also saw a major jump, rising 196% to ₹17,292 crore during the quarter compared with the same period last year. The results underline strong demand across Eternal’s businesses as more consumers continue to rely on app-based food, grocery and convenience services.

Blinkit remained the company’s biggest growth driver. The platform, which offers quick delivery of groceries and daily essentials, has expanded aggressively as demand for instant delivery services rises in urban markets. Analysts said Blinkit’s wider network, improving efficiency and growing order volumes played an important role in boosting the group’s overall performance.

Along with Blinkit, Eternal’s food delivery business also continued to provide stable growth. Zomato remains one of India’s largest food ordering platforms and continues to benefit from higher order frequency and a broader restaurant network.

Eternal, which recently changed its corporate identity from Zomato, now operates multiple consumer-focused businesses. These include food delivery, quick commerce, restaurant supplies through Hyperpure and lifestyle services under District. The broader portfolio is helping the company diversify beyond its original food delivery model.

The company’s shares remained in focus after the earnings announcement, with investors reacting positively to the stronger numbers. Analysts believe Blinkit’s continued growth and the mature food delivery business could support future earnings momentum.

Market experts said the latest quarter reflects a more balanced business strategy, where Eternal is focusing not only on expansion but also on profitability. This has been a key concern for investors in India’s highly competitive internet commerce sector.

Also Read: Ex-Twitter CEO Parag Agrawal’s startup hits $2 bn

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Leaders

Ex-Twitter CEO Parag Agrawal’s startup hits $2 bn

Former Twitter CEO Parag Agrawal has secured $100 million in fresh funding for his AI startup, Parallel Web Systems, taking the company’s valuation to $2 billion. The latest round highlights growing investor confidence in Agrawal’s new venture and in the broader artificial intelligence sector.

Agrawal, who led Twitter before Elon Musk’s takeover in 2022, has kept a relatively low profile since leaving the social media company. He is now building a business focused on the next generation of AI tools and internet infrastructure.

Parallel Web Systems develops technology that helps AI systems search, understand and interact with the internet more efficiently. Its products are aimed at AI agents, software tools that can perform tasks with limited human involvement. These systems are expected to become increasingly important for businesses using automation.

The startup plans to use the fresh capital to hire talent, expand research and strengthen its position in the enterprise market. It is also expected to scale products that allow companies to use AI for complex and data-heavy tasks.

Industry experts say demand is rising for tools that give AI systems access to real-time web information and help them complete tasks more accurately. This includes applications in legal work, financial research, customer support and workflow automation.

The funding also reflects a wider trend in the AI market. While consumer-facing chatbots have gained public attention, investors are increasingly backing companies building the core infrastructure behind AI products. Startups focused on data access, automation and intelligent systems are attracting major capital.

Agrawal joined Twitter in 2011 and rose through the engineering ranks before becoming chief executive in 2021. After his departure the following year, many in the tech industry closely watched his next move.

The rapid rise of Parallel Web Systems to a $2 billion valuation suggests strong confidence in both Agrawal’s leadership and the company’s business model. As AI adoption expands across industries, startups helping machines interact with live online information are seen as key players in the next stage of growth.

With this funding milestone, Agrawal has positioned himself once again at the centre of an important technology shift.

Also Read: Australia plans 2% big tech news levy

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Beyond

RBI brings new rules for bank loan losses

The Reserve Bank of India (RBI) has introduced a new framework that will require banks to prepare earlier for possible loan defaults. The new rules, which will come into effect from April 1, 2027, are aimed at making the banking system stronger and more resilient.

Under the revised system, banks will move to the Expected Credit Loss (ECL) model for provisioning. This means lenders must estimate the chances of loans turning bad in the future and set aside money in advance. At present, banks usually make provisions after stress begins to show or when repayments are missed.

The RBI believes the shift will help banks recognise risks sooner and improve financial stability. It also brings India’s banking practices closer to international standards followed in several major markets.

The new framework will classify loans into three categories depending on the level of risk. Standard loans with no major warning signs will need lower provisions. Loans showing signs of weakness will require higher reserves, while credit-impaired or troubled loans will need the highest level of provisioning.

Importantly, the RBI has kept the current 90-day overdue rule for identifying non-performing assets (NPAs). This means a loan will still be treated as bad if repayments remain overdue for more than 90 days.

Banks had sought more time to prepare for the transition, as the new model may increase the amount of money they need to keep aside. However, the central bank has retained the April 2027 deadline. To ease the shift, lenders will be allowed to spread any additional provisioning burden over four years.

Also Read: WhatsApp blocks 9,400 scam accounts in India

 

 

 

Categories
Technology

WhatsApp blocks 9,400 scam accounts in India

WhatsApp has blocked 9,400 accounts linked to “digital arrest” scams in India since January 2026, according to information shared by the Central government with the Supreme Court. The disclosure came during ongoing proceedings related to the growing threat of cyber fraud in the country.

Digital arrest scams have emerged as one of the most common forms of online fraud in recent months. In these cases, scammers contact victims through calls or messages while pretending to be police officers, CBI officials, customs officers or other government authorities. They often accuse people of crimes such as money laundering or illegal parcels and then threaten arrest unless money is transferred immediately.

According to the government’s status report, WhatsApp launched a focused investigation earlier this year after concerns were raised by Indian enforcement agencies. Instead of removing only accounts reported by users, the platform reportedly used internal systems to detect suspicious activity, identify linked numbers and track organised scam networks. This wider crackdown led to the blocking of 9,400 accounts.

Officials also told the court that earlier takedown requests had identified around 3,800 suspicious accounts, but only a small number were directly linked to digital arrest frauds. However, deeper investigation later revealed a much larger network operating through multiple accounts.

The Centre informed the court that several agencies are now working together to curb such crimes. Telecom companies, financial institutions, regulators and digital platforms have been asked to coordinate more closely to detect fraud quickly and prevent money transfers. Authorities are also focusing on faster blocking of suspicious SIM cards and stronger identity verification measures.

WhatsApp is said to be developing additional tools to detect misuse of police or government logos in profile photos and identify impersonation attempts more effectively.

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Leaders

Customers Bank CEO lets AI clone handle earnings call

In an unusual move that highlights how quickly artificial intelligence is entering corporate life, Customers Bank CEO Sam Sidhu used an AI-generated version of his own voice during a recent earnings call.

Instead of speaking every part of the briefing himself, parts of Sidhu’s prepared remarks were delivered by an AI voice clone designed to sound like him. He was still present on the call, but the digital version handled sections of the presentation.

The US-based bank said the experiment was meant to show how deeply AI is being integrated into its operations. The bank has been investing in automation tools and working closely with AI technology providers to streamline internal processes.

According to executives, the goal is to use AI across areas like loan processing, customer onboarding and routine banking operations, reducing the time and effort needed for everyday tasks.

Sidhu has been positioning AI as a key part of the bank’s future strategy, saying it could help improve efficiency and speed up services while lowering operational costs.

The use of an AI voice in an official earnings call stood out because such events are usually seen as formal and fully human-led. The move has drawn attention in the financial sector as a sign of how quickly technology is evolving.

The bank said the AI experiment reflects its broader shift toward “digital workers” that can support or even replace certain repetitive roles, allowing staff to focus more on complex decision-making and customer relationships.

Also Read: Amazon Now expands ultra-fast delivery to 100 cities

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1 Minute-Read

Amazon Now expands ultra-fast delivery to 100 cities

Amazon has expanded its ultra-fast delivery service, Amazon Now, to 100 cities in India, marking a major push into the quick commerce segment.

The service will deliver daily essentials like groceries, personal care products, baby items and small electronics in minutes in select areas. To support the rollout, Amazon is setting up over 1,000 micro-fulfilment centres across the country.

The move aims to boost convenience and compete with growing quick-commerce rivals in India’s fast-changing retail delivery market.

The expansion covers metros and smaller cities including Pune, Chennai, Jaipur and Lucknow.

Categories
Beyond

Tech gains drive Axis Bank to cut 3,000 jobs

Axis Bank has reduced its workforce by around 3,000 employees in FY26, as its growing use of technology and automation has improved efficiency across operations.

The total employee count fell to about 1.01 lakh, down from roughly 1.04 lakh in the previous year. The bank said the change happened gradually over time rather than through a sudden layoff drive.

According to the bank, the reduction reflects productivity gains from its ongoing digital transformation. With better systems, automation and upgraded technology platforms, fewer employees are now needed to handle the same volume of work.

At the same time, Axis Bank continued to expand its physical presence. It added around 400 new branches during the year, showing that it is still investing in traditional banking channels alongside digital services.

The bank clarified that the workforce drop is not linked to any large-scale restructuring but is part of a broader shift towards efficiency and technology-led operations.

In recent years, Axis Bank has been heavily investing in digital banking, automation tools and customer service platforms. These investments are now beginning to show results in the form of improved productivity.

The trend also reflects what is happening across the banking sector, where technology is changing how work is done. Many routine tasks are being automated, allowing banks to operate with leaner teams while improving speed and service quality.

Even with fewer employees overall, banks like Axis continue to hire selectively in areas such as digital services, risk management and customer experience roles.

Also Read: OpenAI, Microsoft reset partnership terms

Categories
Corporate

OpenAI, Microsoft reset partnership terms

OpenAI and Microsoft have updated the terms of their high-profile partnership, signalling a new chapter in one of the most influential relationships in the artificial intelligence industry.

The revised agreement gives both companies greater flexibility at a time when the global AI race is accelerating and demand for computing power is rising sharply.

Microsoft will continue as a major cloud partner for OpenAI, but it will no longer be the exclusive provider of infrastructure. That means OpenAI can now work with other cloud companies when needed, helping it secure more capacity to train and run advanced AI systems.

For OpenAI, this is an important shift. Since the success of ChatGPT, the company has grown rapidly and needs huge amounts of computing resources to support users, developers and businesses around the world.

The new structure may help OpenAI expand faster while reducing dependence on a single partner.

For Microsoft, the reset allows it to maintain close ties with OpenAI while also creating more room to develop its own AI strategy.

Microsoft has already integrated OpenAI technology into products such as Copilot, Azure services and workplace software, making the partnership central to its recent AI push.

The companies have also reportedly adjusted financial arrangements and removed earlier clauses tied to future advanced AI scenarios, simplifying what had become a complex long-term relationship.

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