Category: Corporate

Categories
Corporate

Anthropic plans $60 billion IPO amid AI boom

Anthropic, the artificial intelligence firm behind the Claude chatbot, is preparing for a potential initial public offering (IPO) that could value the company at over $60 billion. The listing is reportedly being targeted for October 2026, though plans are still in the early stages.

Founded in 2021 by former researchers from OpenAI, Anthropic has quickly positioned itself as a major player in the rapidly expanding AI industry. Its flagship product, Claude, is widely used for a range of applications, from enterprise solutions to everyday digital tasks, helping the company gain strong traction in a competitive market.

The proposed IPO reflects growing investor interest in artificial intelligence companies, as demand for advanced AI systems continues to surge globally. Industry experts believe that Anthropic’s listing could become one of the most significant tech IPOs in recent years, highlighting the increasing value placed on AI-driven innovation.

Reports suggest the company has begun preliminary discussions with leading investment banks to manage the offering. While details are yet to be finalised, the funds raised through the IPO are expected to support large-scale investments in computing infrastructure, including data centres and high-performance hardware. These investments are essential for training and deploying more advanced AI models.

Anthropic is often seen as a key competitor to OpenAI, with both companies racing to develop more powerful and efficient AI technologies. The rivalry underscores the broader competition within the tech industry, where companies are investing heavily to gain an edge in generative AI.

Despite the strong interest, the IPO timeline and valuation remain subject to change depending on market conditions and regulatory approvals. However, the move signals confidence in the long-term growth of the AI sector.

Also Read: India approves ₹2.38 lakh cr defence boost

Categories
Corporate

Nayara Energy hikes fuel prices by up to ₹5 per litre

Nayara Energy, one of India’s leading private fuel retailers, has increased the prices of petrol and diesel by up to ₹5 per litre. This marks the first price hike by the company following the recent rise in global crude oil prices triggered by tensions in the Middle East.

According to reports, petrol prices have been raised by about ₹5 to ₹5.30 per litre, while diesel has seen an increase of around ₹3 per litre. The revised prices have come into effect immediately across Nayara’s network of fuel stations. However, the exact increase may differ slightly from state to state due to varying local taxes.

The price hike comes at a time when international crude oil prices have surged sharply, nearing $119 per barrel. The increase is largely attributed to geopolitical instability in West Asia, which has disrupted supply expectations and pushed global energy prices upward. As India imports a large portion of its crude oil, any rise in global prices directly impacts domestic fuel rates.

Unlike public sector oil marketing companies, private players such as Nayara Energy do not receive financial support from the government to cushion the impact of rising crude costs. As a result, they are more exposed to market fluctuations and often pass on the increased costs to consumers. Industry sources suggest that the company had been under pressure due to rising input costs and could no longer sustain the earlier pricing levels.

Meanwhile, state-owned oil companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum have not yet changed their retail fuel prices, continuing to absorb the higher costs for now. This has led to a noticeable gap between the pricing strategies of private and public sector retailers.

Also Read: Coca-Cola, Walmart CEOs exit amid AI shift

Categories
Corporate

Sensex plunges 1,700 points, Nifty slips below 22,850

Indian stock markets faced a sharp sell-off on Friday, with the BSE Sensex dropping nearly 1,700 points and the NSE Nifty 50 falling below 22,850. Investors grew cautious amid rising geopolitical tensions, soaring crude prices, and continued foreign fund outflows.

The day’s decline erased nearly ₹9 lakh crore of market wealth, highlighting the intensity of the session. While markets had started the week on a positive note, global uncertainties quickly reversed investor sentiment.

The sell-off was driven by escalating tensions in the Middle East, particularly involving the United States and Iran, which pushed crude oil prices above $100 per barrel. Rising oil prices raised concerns about inflation and higher fuel import costs for India, adding to market pressure. Meanwhile, the Indian rupee slipped to a record low against the US dollar, further weakening investor confidence.

Among sectors, banking, IT, and metals were the hardest hit. Key losers included HDFC Bank, ICICI Bank, Axis Bank, Infosys, TCS, Tata Steel, and JSW Steel, which faced heavy selling amid a risk-off mood among domestic and foreign investors.

Conversely, energy and oil-related stocks emerged as the main gainers, supported by rising crude prices. Reliance Industries, GAIL India, and ONGC managed to post modest gains, providing some relief amid the broader market decline.

Also Read: Coca-Cola, Walmart CEOs exit amid AI shift

Categories
Corporate

Jio financial services, Allianz start reinsurance JV

Jio Financial Services and Allianz have launched a joint venture in India to enter the reinsurance business, strengthening their presence in the country’s fast-growing insurance sector.

The new company, Allianz Jio Reinsurance Limited, is a 50:50 partnership between the two firms and has officially begun operations after receiving approval from the Insurance Regulatory and Development Authority of India (IRDAI). This marks a key milestone in their collaboration, which was first announced last year.

Reinsurance plays a crucial role in the insurance ecosystem. It allows insurance companies to share and manage risks by passing on a portion of their liabilities to another firm. This helps insurers stay financially stable, especially during large-scale events such as natural disasters or major health emergencies.

Through this partnership, Jio Financial Services brings its strong digital network and deep reach in the Indian market, while Allianz contributes its global experience in risk assessment and underwriting. Together, the companies aim to offer more efficient and flexible risk solutions to insurers operating in India.

The launch of this joint venture is expected to increase competition in India’s reinsurance space, which has traditionally been dominated by a limited number of players. Industry experts believe that more competition could improve pricing, innovation, and overall service quality in the sector.

The move also aligns with the broader growth of India’s insurance industry, where demand is rising due to increasing awareness, economic growth, and regulatory support. By improving the availability of reinsurance, the new venture could help insurers expand their coverage and take on larger risks.

Also Read: Health insurance platform Plum secures $20 million funding

Categories
Corporate

Health insurance platform Plum secures $20 million funding

Plum, a Bengaluru-based health insurance platform, has raised $20 million (around ₹193 crore) in a new funding round led by Peak XV Partners. The latest investment reflects growing confidence in digital health and insurance solutions in India.

The round also saw participation from existing investor Tanglin Venture Partners and new investor GMO Venture Partners. With this funding, Plum plans to scale its services and strengthen its technology platform.

Founded in 2019, Plum helps companies offer health insurance and wellness benefits to their employees through a simple digital interface. Today, it works with thousands of businesses across India, from startups to large firms, making it easier for employees to access healthcare services.

The company says a major part of the new funds will go into improving its technology, especially its claims process. By using artificial intelligence, Plum aims to make insurance claims faster and smoother, reducing waiting time and paperwork for users. The goal is to create a more hassle-free experience during what is often a stressful time for customers.

Beyond insurance, Plum is also expanding into a wider range of healthcare services. It plans to strengthen offerings in areas like preventive care, mental health support, primary care, and telehealth. This shift shows the company’s ambition to move beyond being just an insurance provider and become a more complete healthcare platform.

Plum has already started automating a large portion of its claims, helping improve efficiency and turnaround times. With additional investment, it hopes to build on this progress and further enhance customer experience.

The startup is also focusing on steady and sustainable growth. It has achieved operating profitability and now aims to expand while maintaining financial discipline.

Also Read: Samsung brings its browser to Windows PCs

 

Categories
Corporate

Sensex falls over 1,050 points drops below 23,000

Indian equity markets tumbled sharply on Friday,  with the BSE Sensex falling 1,053 points to 59,182 and the Nifty50 slipping 325 points to 22,965. The decline came amid rising crude oil prices, a weakening rupee, and global geopolitical concerns, leaving investors cautious.

Key sectors such as oil & gas, infrastructure, and energy bore the brunt of the sell-off. Among notable losers, Chennai Petroleum, Sadbhav Engineering, Brigade Enterprises, and DCX Systems saw significant declines. On the brighter side, a few stocks bucked the trend, with LIC, Aequs, and Fino Payments Bank posting gains, supported by positive investor sentiment in select pockets.

Global cues played a major role in the market’s negative trend. Crude oil prices hit multi-week highs, stoking concerns about input costs and inflationary pressures. The Indian rupee weakened past ₹94 against the US dollar, amplifying concerns for import-dependent sectors. Meanwhile, foreign institutional investors continued to book profits, adding to the bearish momentum.

Trading opened on a weak note, with GIFT Nifty futures signaling a negative start. Analysts noted that despite recent rallies in banking, automobile, and consumer stocks, current market conditions favored caution.

Also Read: OpenAI shuts Sora, drops $1 bn Disney deal

Categories
Corporate

Meta cuts hundreds of jobs to focus on AI

Meta Platforms has laid off hundreds of employees as part of a plan to focus more on artificial intelligence (AI). The job cuts have affected several teams, including recruiting, sales, operations, and its Reality Labs division, which works on virtual reality and metaverse projects.

The company has not shared the exact number of employees affected, but the layoffs are said to be a small part of its total workforce. Meta had around 79,000 employees globally by the end of 2025.

These layoffs show a clear change in the company’s strategy. Meta is reducing its focus on the metaverse and putting more attention on AI, which it sees as a major area for future growth. The Reality Labs division, which leads metaverse efforts, has already faced cuts earlier as well.

Meta plans to spend heavily on AI in the coming years. This includes building data centres and improving technology needed for AI development. The company believes that investing in AI will help it grow faster and stay competitive in the tech industry.

The layoffs are also part of efforts to make the company more efficient. By cutting some roles, Meta is trying to reduce costs and redirect resources to more important areas like AI.

Earlier, there were reports that Meta could cut a much larger number of jobs, but no such decision has been confirmed. For now, the company has only carried out limited layoffs.

Also Read: Highness Microelectronics IPO subscribed over 8x on Day 2

Categories
Corporate

Highness Microelectronics IPO subscribed over 8x on Day 2

The SME IPO of Highness Microelectronics saw strong traction on its second day, with overall subscription exceeding eight times. Retail investors showed the highest interest, bidding aggressively, while non-institutional investors also contributed significantly to demand.

Institutional participation remained relatively subdued. The ₹21.67 crore issue, priced between ₹114 and ₹120 per share, will close on March 27. Market signals remain positive, with a grey market premium suggesting potential listing gains.

Proceeds from the issue will be used for capital expenditure, working capital requirements, and partial debt repayment. The company is set to list on the BSE SME platform.

Categories
Corporate

Salesforce freezes senior executives’ pay, boosts bonuses

Salesforce has decided not to increase salaries for its senior-most employees this year, choosing instead to reward them through bonuses and stock-based incentives. The move applies to director-level staff and above, according to an internal memo shared with employees.

Under the new approach, only employees at the senior manager level and below will be eligible for salary hikes during the current performance cycle. For higher-ranking employees, base pay will remain unchanged, marking a shift in how the company structures compensation at the top.

Rather than focusing on fixed salary increases, Salesforce is putting more weight on variable pay. The company has increased its bonus pool and stock grants, aiming to reward strong performance while maintaining tighter control over fixed costs.

Senior employees who perform well are expected to benefit from this shift. Many director-level staff will receive larger stock awards this year, with a significant portion of top performers likely to see increases in their equity grants. This means their overall compensation could still grow, even without a rise in base salary.

Bonuses are also being enhanced. Most eligible senior employees are expected to receive at least their target bonus, while top performers could earn payouts well above that level. The company says this model better aligns rewards with individual and company performance over time.

The decision comes as many technology companies rethink how they pay their workforce. Instead of steadily increasing fixed salaries, firms are increasingly tying compensation to performance metrics and long-term business outcomes. This approach helps companies stay flexible during uncertain economic conditions while still rewarding key talent.

Also Read: OpenAI hires former JioStar CEO for Asia-Pacific

Categories
Corporate

Infosys to buy Optimum Healthcare IT for $465 mn

Infosys is making a big move to expand its footprint in the US healthcare sector, announcing that it will acquire Optimum Healthcare IT for up to $465 million.

The deal is part of Infosys’ strategy to grow in high-demand areas like healthcare technology, where hospitals and providers are increasingly turning to digital solutions to improve services. Optimum Healthcare IT specialises in helping healthcare organisations upgrade their systems, manage data, and adopt modern technologies like cloud computing.

By bringing Optimum into its fold, Infosys aims to combine its own strengths in artificial intelligence and digital platforms with Optimum’s deep understanding of the healthcare industry. The goal is to offer more complete, end-to-end solutions, helping hospitals run more efficiently while also improving patient care.

Company leaders believe the acquisition will also open doors to new clients in the US, one of the world’s largest healthcare markets. It gives Infosys access to established relationships with healthcare providers, which could lead to more long-term projects and partnerships.

Alongside this, Infosys is also acquiring another US-based firm, Stratus, in a separate deal. Together, the two acquisitions are valued at around $560 million, showing the company’s strong push to build expertise in specialised sectors rather than just general IT services.

The deals are expected to close by early next financial year, subject to approvals. Once completed, Infosys plans to integrate both companies into its operations to scale up its healthcare and insurance offerings.

Also Read: Iran keeps Strait of Hormuz open for India