Author: Staff Writer

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Leaders

Amazon CEO says chip business crosses $20 bn

Amazon is seeing rapid growth in its technology business, with CEO Andy Jassy revealing that its chip division has now crossed an annual revenue run rate of $20 billion.

The milestone reflects how quickly demand for artificial intelligence (AI) is rising. Companies across industries are increasingly relying on cloud services and advanced computing power, which has boosted Amazon’s custom chip and infrastructure business.

A major part of this growth is being driven by Amazon Web Services, the company’s cloud arm. Its AI-related offerings are gaining traction as businesses look to build and run AI models more efficiently.

Amazon is also focusing on developing its own chips to reduce costs and improve performance. These in-house chips are designed to handle complex AI workloads and are becoming a key part of the company’s long-term strategy.

To support this expansion, Amazon plans to continue investing heavily in data centres and technology infrastructure. While the scale of spending is significant, the company maintains that it is necessary to keep up with growing demand and stay competitive in the AI space.

The announcement signals Amazon’s intent to strengthen its position against other global tech companies investing in similar technologies. It also highlights a shift in the company’s business model, with AI and cloud services playing a bigger role than ever before.

Also Read: Anand Rathi Wealth announces bonus shares, ₹7 dividend

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Beyond

Rupee rises to 92.41, gains 10 paise vs dollar

The Indian rupee strengthened slightly on April 10, rising by 10 paise to trade at 92.41 against the US dollar in early market hours.

The currency had closed at 92.51 in the previous session and opened on a firmer note, supported by some positive domestic factors. Market participants said recent steps taken by the Reserve Bank of India (RBI), along with improved liquidity conditions, helped the rupee gain ground at the start of the day.

However, despite this early rise, experts remain cautious about the rupee’s outlook. Global factors continue to weigh on the currency, especially rising geopolitical tensions and uncertainty in international markets. These issues are making investors more careful and limiting strong movements in the rupee.

Another key factor affecting the rupee is crude oil prices. Since India imports a large portion of its oil needs, higher crude prices can increase demand for dollars, putting pressure on the rupee. This continues to remain a concern for traders.

In addition, recent regulatory measures by the RBI, including steps related to banks’ dollar positions, have influenced short-term movements in the currency.

Also Read: Anand Rathi Wealth announces bonus shares, ₹7 dividend

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Beyond

Gold slips ₹10 to ₹1.51 lakh, silver falls ₹2,000

Gold and silver prices fell on Friday, April 10, 2026, due to weak global signals and cautious mood in the market.

Gold prices saw a small drop of about ₹10, trading near ₹1,51,470 per 10 grams in India. Silver prices, however, fell more sharply by around ₹2,000 per kilogram, trading close to ₹2.54–2.55 lakh per kg.

The fall in prices is mainly due to uncertainty in global markets. Ongoing geopolitical tensions and mixed economic signals have made investors cautious. This has reduced demand for precious metals in the short term.

On the Multi Commodity Exchange (MCX), both gold and silver opened lower, reflecting weak sentiment. Experts say that while gold is usually considered a safe investment during uncertain times, its price can still move up or down based on global factors like the US dollar, crude oil prices, and overall investor mood.

In Indian cities, prices of 24K, 22K, and 18K gold also saw slight declines. Silver prices followed the same trend across markets, giving some relief to buyers.

Analysts believe that the recent fall is also due to profit booking, as prices had risen earlier. Investors are now booking gains, which is adding pressure on prices.

Even though prices have fallen, experts say gold may remain strong in the long term because global risks and inflation concerns still exist. However, in the short term, prices may continue to fluctuate depending on international developments.

Also Read: Sensex jumps 820 points, Nifty above 24,050

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Corporate

Sensex jumps 820 points, Nifty above 24,050

Indian equity markets surged on Friday, with benchmark indices opening strong and sustaining gains through early trade. The Sensex rose around 820 points, while the Nifty 50 moved firmly above the 24,050 mark, supported by broad-based buying across key cyclical sectors.

The rally was led by strong performances in banking, financial services, and auto stocks. Eicher Motors, Axis Bank, Shriram Finance, Asian Paints, and Wipro were among the top gainers, drawing solid investor interest on expectations of steady domestic demand and continued credit growth. Infrastructure-linked stocks also contributed to the upward momentum, adding strength to the broader market rally.

On the losing side, IT and pharmaceutical heavyweights weighed on the indices. TCS, Infosys, HCL Technologies, Tech Mahindra, and Sun Pharma were among the major laggards, as selling pressure persisted in export-oriented sectors amid concerns over global demand trends and margin pressures.

Market breadth remained strongly positive, with advancing stocks significantly outnumbering decliners, highlighting widespread participation across segments. Midcap and smallcap indices also outperformed large caps, each gaining close to 1%, reflecting strong risk appetite among investors.

Sector-wise, autos, banking, financial services, FMCG, and infrastructure indices traded firmly in the green, while IT and pharma were the only notable sectors in the red. This divergence underscored a clear shift in momentum towards domestic cyclicals.

Also Read: IndiGo rises 11% on ceasefire, lower oil

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Beyond

Vietnam joins emerging market ranks

Vietnam is set for a major milestone in its financial journey. Starting September 21, 2026, the country’s stock market will be upgraded from a frontier to a secondary emerging market by FTSE Russell, a leading global index provider. The decision follows recent reforms that make it easier for foreign investors to buy and sell Vietnamese stocks.

The upgrade will gradually include Vietnamese companies in FTSE’s global equity indices over the next year, ensuring the market can absorb new capital without sudden shocks. Analysts expect this change to bring billions of dollars in investment, boosting liquidity and strengthening the overall market.

Key reforms behind the upgrade include a global broker model allowing international investors to trade without local accounts, and the removal of a prefunding requirement, which previously made foreign investment cumbersome. About 32 large companies are likely to be included first, offering global investors exposure to Vietnam’s top industrial and financial firms.

Vietnam’s elevation puts it alongside larger Asian markets like India, China, and Indonesia, increasing its visibility and credibility on the global stage.

Also Read: Google AI overviews face accuracy concerns

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Corporate

Sensex drops 931 points, Nifty slips below 23,800

India’s stock markets paused after a strong five-day rally, with the BSE Sensex falling 931 points (1.2%) to close at 76,632, and the Nifty 50 slipping 223 points (0.9%) to 23,775 on Thursday, 9 April 2026. The decline came amid profit-taking, rising crude oil prices, and renewed geopolitical uncertainty.

Among the top losers, HDFC Bank, ICICI Bank, Axis Bank, Reliance Industries, and State Bank of India saw sharp declines, reflecting concerns over higher fuel costs and global market volatility. Conversely, TCS, Infosys, Larsen & Toubro (L&T), and ONGC managed modest gains, offering some support to the indices.

Markets had surged earlier this week on optimism over a temporary ceasefire between the US and Iran and a fall in crude prices. However, oil prices rose again on Thursday, prompting investors to book profits. Foreign institutional investors also trimmed positions, adding to the selling pressure.

Sector-wise, banking and financial stocks were the biggest drag, while IT and energy stocks helped limit losses.

Also Read: Adam Back denies claims of being Bitcoin creator

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1 Minute-Read

Adam Back denies claims of being Bitcoin creator

British cryptographer Adam Back has firmly denied claims that he is Satoshi Nakamoto, the mysterious creator of Bitcoin. Speculation arose because of Back’s early cryptography work and his development of Hashcash, a system seen as a precursor to Bitcoin.

Back clarified he communicated with Nakamoto but had no role in creating Bitcoin. The mystery of Nakamoto’s identity remains unsolved, despite numerous theories.

Back’s denial adds to the list of rejected claims, keeping curiosity alive as Bitcoin continues to influence global finance and digital innovation.

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1 Minute-Read

Google AI overviews face accuracy concerns

Google’s AI Overviews feature, designed to provide quick answers in search results, shows around 90% accuracy in recent studies. However, analysts warn that the remaining error rate could still produce millions of incorrect responses daily due to the platform’s huge search volume.

Reports highlight issues such as unreliable sources and occasional misleading information in AI-generated summaries. Experts say even a small percentage of errors can have large-scale impact. Google maintains that improvements are ongoing, but concerns persist over user trust and the potential spread of inaccurate information through automated search responses.

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Corporate

Musk moves to oust OpenAI CEO Altman

Elon Musk has stepped up his legal battle with OpenAI, now asking the court to remove CEO Sam Altman from his position. He is also seeking the removal of OpenAI president Greg Brockman as part of the case.

Musk, who helped start OpenAI in 2015, has been critical of how the company has changed over time. In his lawsuit, he claims OpenAI has moved away from its original goal of working as a non-profit focused on public benefit and has instead become more profit-driven.

According to Musk, he supported the organisation in its early days based on the idea that it would remain non-commercial. He now argues that the company’s current structure and partnerships go against that vision.

As part of the updated lawsuit, Musk is also seeking huge financial damages, reportedly over $100 billion. However, he has said that any money awarded should go to OpenAI’s non-profit arm, not to him personally.

OpenAI has strongly denied these claims. The company says Musk’s accusations are unfounded and has pushed back against his demands, calling them disruptive. It has also suggested that Musk’s actions may be influenced by competition, as he now runs his own AI company, xAI.

The dispute highlights the growing tension between Musk and OpenAI, especially as both are now competing in the fast-moving artificial intelligence space.

Also Read: Policybazaar CEO Tarun Mathur resigns

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Corporate

LIC eyes first bonus share issue

Life Insurance Corporation of India (LIC) is likely to announce its first-ever bonus share issue, with its board scheduled to meet on April 13, 2026, to review the proposal. This could be a key milestone for the insurer since it was listed on the stock market.

In an official update, LIC said its board of directors will discuss the possibility of issuing bonus shares to existing shareholders. If the plan is approved, it will still need shareholder approval before it is implemented.

A bonus share issue means investors receive additional shares at no extra cost, based on how many shares they already own. While this increases the number of shares held, the overall value of the investment stays the same, as the share price adjusts accordingly.

This would be the first time LIC is offering bonus shares. Until now, the company has mainly rewarded its investors through dividends. Market experts believe a bonus issue could help improve trading activity in the stock and make it more attractive to retail investors.

The news has already lifted investor sentiment. LIC’s share price saw a noticeable rise after reports of the possible bonus issue, reflecting optimism in the market.

The company has also temporarily closed its trading window, following standard rules, until a couple of days after it announces its financial results for the year ending March 2026.

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