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Reliance silent after Trump’s $300bn refinery claim

Donald Trump has announced a proposed $300-billion oil refinery project in Texas, saying India’s Reliance Industries would support the investment. The refinery is planned at the Port of Brownsville and would be built by America First Refining. Trump described it as a major energy project that could boost US oil refining capacity.

However, Reliance has remained silent about the announcement and has not confirmed any involvement in the project. The company has not responded to media queries, creating uncertainty about the deal. Analysts say the lack of official confirmation has raised questions about the scale and details of the proposed investment.

 

 

 

 

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Corporate

Mind Robotics raises $500mn at $2bn valuation

Mind Robotics, a robotics startup created from electric vehicle maker Rivian, has raised $500 million in a new funding round. The investment values the company at about $2 billion and shows growing interest in artificial intelligence-based robotics.

Mind Robotics develops advanced robots powered by artificial intelligence that can help industries automate physical tasks. The company focuses on using AI and robotics to improve work in factories, warehouses and supply chains.

The startup was originally developed as a project inside Rivian before becoming an independent company. Even after the spin-off, Rivian continues to support the venture and is expected to remain an important partner as the technology grows.

Mind Robotics plans to use the new funding to expand its research, hire more engineers and speed up the development of its robotics systems. The company aims to build machines that can perform complex tasks more efficiently in industrial environments.

Earlier, the company had raised about $115 million in seed funding from investors led by Eclipse Ventures. That early investment helped the startup begin developing its AI and robotics technology.

The company is working on what it calls “industrial AI”. This technology combines artificial intelligence, robotics and real-world data from manufacturing environments. By studying data from Rivian’s production facilities, Mind Robotics hopes to train its robots to handle tasks such as assembly work, warehouse operations and logistics management.

Experts say interest in robotics and automation is increasing as companies look for ways to improve efficiency and reduce labour-intensive work in factories. Many technology and manufacturing firms are now investing heavily in AI-driven automation systems.

For Rivian, launching Mind Robotics also reflects a broader strategy to expand beyond electric vehicles and explore new technology sectors.

Also Read: PM Modi unveils ₹10,800 cr projects in Kerala

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Beyond

Gold rises to ₹1,63,320, silver slips to ₹2,89,900

Gold prices in the domestic market edged up slightly on Thursday, while silver declined, as global currency movements and geopolitical concerns influenced bullion trading.

The price of 24-carat gold increased by ₹10 to ₹1,63,320 per 10 grams, whereas silver fell by ₹100 to ₹2,89,900 per kilogram in early trade.

Market analysts said the strengthening of the US dollar has put pressure on precious metals globally. A stronger dollar typically makes commodities priced in the currency more expensive for international buyers, which can limit demand and cap price gains.

At the same time, ongoing geopolitical tensions in the Middle East have continued to support gold’s appeal as a safe-haven asset. Investors often turn to gold during periods of global uncertainty, helping keep prices relatively firm despite currency pressures.

In international markets, gold prices have shown limited movement as traders remain cautious ahead of key global economic signals and interest-rate expectations. Higher interest rates tend to reduce the attractiveness of gold because the metal does not generate interest or yield.

Silver prices, which are more closely linked to industrial demand, witnessed a decline during the session. Market participants attributed the fall to profit-booking and softer demand outlook in some industrial sectors.

Despite the slight decline in silver, both precious metals are trading near historically elevated levels in India. Gold has been hovering around the ₹1.63 lakh mark per 10 grams in recent sessions, reflecting sustained investor interest amid global financial volatility.

Currency fluctuations have also played a role in domestic bullion prices. A stronger dollar and movements in the Indian rupee often influence the landed cost of precious metals in the country.

Any further escalation in international tensions could increase safe-haven demand for gold, while continued dollar strength may restrict significant upward movement in prices.

Also Read: Sensex falls 975 points, Nifty drops to 23,500

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Corporate

Sensex falls 975 points, Nifty drops to 23,500

Indian equity benchmarks declined sharply on Thursday, the BSE Sensex dropped nesarly 975 points to 75,890.72, while the Nifty50 fell 299.45 points to 23,567.15 in early trade, reflecting broad-based selling across sectors.

Among the top gainers on the Nifty were HCLTech, Infosys, and Tata Consultancy Services, as IT stocks showed resilience amid the broader market sell-off.

On the other hand, top losers included InterGlobe Aviation, Tata Motors, Larsen & Toubro, and Adani Enterprises, which came under selling pressure during the session.

Sector-wise, auto, capital goods and consumer stocks led the decline, while IT shares limited the fall in the benchmarks.

The market downturn was largely driven by a surge in global oil prices, with Brent crude oil rising to around $101 per barrel amid geopolitical tensions in the Middle East. Higher crude prices raised concerns over inflation and increased costs for businesses.

The spike in oil prices, along with cautious global sentiment, prompted investors to reduce exposure to equities, leading to losses across most sectors in the domestic market.

Also Read: Elon Musk tops Forbes Billionaires list

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Leaders

Elon Musk tops Forbes Billionaires list

The 2026 Forbes World’s Billionaires list shows a record number of wealthy people around the world. There are now 3,428 billionaires, the most in the list’s 40-year history. Together, they are worth $20.1 trillion, up from $16.1 trillion last year.

Elon Musk is at the top, becoming the richest person ever with an estimated net worth of $839 billion. His wealth has grown by about $500 billion in one year, thanks to the rising value of Tesla and SpaceX. Musk is the first person to reach more than $800 billion and could become the world’s first trillionaire if this continues.

The next richest are tech leaders Larry Page ($257 billion) and Sergey Brin ($237 billion), co-founders of Google. Jeff Bezos ($224 billion) and Mark Zuckerberg ($222 billion) follow them.

This year’s list also includes 390 newcomers, like musician and entrepreneur Dr. Dre, singer Beyoncé, tennis star Roger Federer, and Kimbal Musk, Elon Musk’s brother. Many of them joined the list because they now own large shares in successful companies.

The United States has the most billionaires with 989 people, followed by China (539) and India (229). Celebrity billionaires are also increasing. There are now 22 athletes and entertainers worth over $48 billion in total, up from 18 last year.

Forbes’ ranking is based on the value of stocks, companies, and other assets as of March 1, 2026. The list shows that most of the world’s wealth is still concentrated in technology and media, with new gains coming from AI and other fast-growing industries.

Also Read: Yann LeCun’s AMI labs nets $1bn to build real-world AI

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Corporate

Yann LeCun’s AMI labs nets $1bn to build real-world AI

AI pioneer Yann LeCun, former chief AI scientist at Meta and co-recipient of the Turing Award, has launched AMI Labs, a new startup focused on building “world models”, AI systems that learn from and reason about the physical world. The company announced a $1.03 billion seed funding round, one of the largest early-stage raises globally and the biggest ever for a European AI startup.

Investors in the round include Bezos Expeditions, Nvidia, Samsung, Toyota Ventures, Temasek, Mark Cuban, and more, reflecting strong confidence in AMI’s vision. The funding will support research teams in Paris (headquarters), New York, Montreal, and Singapore, and will allow the company to focus on foundational AI research rather than immediate product launches.

Unlike traditional AI systems that rely mainly on text and pattern recognition, AMI’s world models aim to understand cause and effect, remember past experiences, plan actions, and interact with real-world environments. The startup sees applications across robotics, healthcare, autonomous systems, and industrial operations, where accurate, reliable decision-making is crucial.

LeCun will serve as executive chair, with Alexandre LeBrun as CEO, Laurent Solly as COO, and Saining Xie as chief science officer. AMI plans to publish research and open-source much of its code to encourage collaboration and accelerate progress in the AI community.

The startup’s first commercial partner is Nabla, a healthcare AI firm, which plans to integrate AMI’s technology to improve decision-making in critical applications. AMI’s founders emphasize that the company will focus on long-term research and practical AI capabilities, rather than chasing quick revenue or replicating large language models.

Also Read: Apple now produces 25% of iPhones in India

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Corporate

Sensex drops 1,300 points, Nifty falls to 23,900

Indian stock markets ended sharply lower on Wednesday, with the BSE Sensex falling about 1,300 points to close near 77,000, and the Nifty 50 slipping 400 points to around 23,900.

Investors were rattled by escalating tensions in the Middle East, particularly concerns over a potential Iran-US conflict, which raised fears of higher oil prices and global instability. Foreign funds also sold equities, while domestic investors sought safer assets, adding to the pressure.

Most sectors were in the red, with banking, autos, and energy stocks leading the losses. Top losers included HDFC Bank, Reliance Industries, and Maruti Suzuki, while defensive and metal stocks such as Tata Steel and Hindalco managed modest gains. Mid-cap and small-cap shares also fell sharply, reflecting broad risk aversion across the market.

Also Read: Moltbook joins Meta, AI Agents take lead

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1 Minute-Read

Apple now produces 25% of iPhones in India

Apple has ramped up iPhone production in India, assembling around 55 million units in 2025, a 53 % increase from the previous year. This means one in four iPhones worldwide now comes from India.

The company is producing all versions of the latest iPhones, including Pro models, as part of a broader strategy to reduce dependence on China amid trade tensions.

Government incentives and a growing local supplier network have made India a major hub for Apple, strengthening its global supply chain.

 

Categories
Technology

Moltbook joins Meta, AI Agents take lead

Meta Platforms has acquired Moltbook, a social network built solely for AI agents to post, comment, and interact without human involvement. The founders, Matt Schlicht and Ben Parr, will join Meta’s Superintelligence Labs, the company’s unit focused on advanced AI research. The price of the deal has not been disclosed.

Unlike Facebook, Instagram, or X, Moltbook is designed exclusively for machines. Its AI agents behave like social participants, sharing content, engaging with each other, and even creating trending posts. The platform gained attention because of its seemingly intelligent behavior, though some early viral content was influenced by humans.

Meta says the acquisition will allow AI agents to help people and businesses in new ways. Existing users can continue using Moltbook, but the company has not explained long-term plans or potential feature integration with other Meta products.

Analysts see Moltbook as part of a broader movement toward autonomous AI systems that can act independently online. Companies like Meta and OpenAI are racing to build networks and tools that allow these AI agents to perform tasks without constant human oversight.

The platform also faced early security concerns, including vulnerabilities that let humans manipulate bot accounts. These issues illustrate the challenges of operating open AI ecosystems safely while maintaining creativity and engagement.

This acquisition strengthens Meta’s position in AI research and practical applications. By bringing in Moltbook’s technology and team, the company gains experience in managing large-scale AI agent networks and understanding social dynamics among autonomous systems.

Also Read: Qualcomm, NEURA Robotics team up for smart humanoid robots

 

 

 

 

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Corporate

Qualcomm, NEURA Robotics team up for smart humanoid robots

Qualcomm and German startup NEURA Robotics have teamed up to develop the next generation of intelligent robots that can work safely alongside humans. The collaboration focuses on humanoid and general-purpose robots for homes, factories, healthcare, and other real-world settings.

NEURA will integrate Qualcomm’s Dragonwing Robotics IQ10 processors, designed for advanced AI and real-time decision-making,  into its robotic hardware. These chips act like the robot’s “brain,” allowing it to sense its surroundings, make decisions, and respond quickly without needing constant cloud support.

The companies are also working on a standard “Brain + Nervous System” architecture, which could become a reference for future robots. NEURA’s Neuraverse platform, a cloud-based simulation system, lets robots practice and learn new tasks virtually before applying them in the real world. This speeds up training and improves performance across multiple robots.

The partnership will also create a developer ecosystem to encourage third-party applications, making it easier for innovators to build tools for physical AI. By combining Qualcomm’s expertise in AI and connectivity with NEURA’s robotics experience, the collaboration aims to move advanced robots from labs into practical, everyday use.

Also Read: Pieter Elbers resigns as IndiGo CEO