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Anthropic CEO says firm grew 80-fold with AI boom

Artificial intelligence company Anthropic has witnessed explosive growth in early 2026, with CEO Dario Amodei revealing that the company expanded nearly 80-fold in the first quarter compared to the same period last year.

Speaking at Anthropic’s developer event in San Francisco, Amodei said the surge in demand for the company’s AI tools far exceeded internal expectations. According to him, Anthropic had initially planned infrastructure and operations for around 10 times growth, but actual usage and revenue increased much faster than anticipated.

The rapid rise has been driven largely by growing adoption of Anthropic’s Claude AI models among businesses, software developers, and enterprise customers. Claude is increasingly being used for coding assistance, workflow automation, research, and customer support applications, helping Anthropic emerge as one of the strongest competitors in the global AI industry.

Amodei acknowledged that the company has faced challenges in handling such massive expansion, especially in securing enough computing power to support growing user demand. He joked during the event that the pace of growth had become difficult for the company to manage, highlighting one of the biggest issues facing AI firms today, access to large-scale computing infrastructure.

To address capacity constraints, Anthropic has reportedly expanded infrastructure partnerships and compute agreements in recent months. The company has been investing heavily in cloud and data centre access to support training and deployment of advanced AI models.

Founded in 2021 by former OpenAI executives, including siblings Dario and Daniela Amodei, Anthropic has quickly become a major player in the artificial intelligence sector. The company has attracted billions of dollars in investments from global technology firms and investors amid rising competition in generative AI.

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Anil Ambani files defamation case against NDTV

Reliance Group Chairman Anil Ambani has filed a defamation case in the Delhi High Court against NDTV over its reports on ongoing CBI and Enforcement Directorate investigations involving companies linked to his business group.

Ambani told the court that NDTV published around 72 reports in recent months that damaged his reputation and business image. His lawyers claimed the reports were unfair and presented allegations as facts.

During the hearing, Ambani’s legal team also alleged that the Adani Group, is interested in companies linked to the Reliance ADA Group. The lawyers argued that the NDTV reports were part of a targeted campaign against him.

The Delhi High Court issued notices to NDTV, its parent company AMG Media Networks, and NDTV CEO and Editor-in-Chief Rahul Kanwal, asking them to respond to the allegations. However, the court did not pass any immediate order and will hear the matter again in July.

Ambani’s lawyers said many reports directly used his name even though the investigations were against certain group companies and not him personally. They argued this created a negative public perception and harmed his image.

The suit seeks damages of more than ₹2 crore. Ambani has told the court that any compensation awarded in the case will be donated to charity.

The reports under dispute are linked to investigations by the CBI and ED into alleged financial irregularities involving Reliance Group companies.

The Delhi High Court is expected to hear the matter in detail during the next hearing scheduled for July 18.

NDTV has not yet publicly responded to the lawsuit.

Also Read: Julius Baer names Kunal Sumaya as interim India Head

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Julius Baer names Kunal Sumaya as interim India Head

Swiss wealth management firm Julius Baer has named Kunal Sumaya as its interim country head for India after the resignation of India CEO Umang Papneja.

The company said Papneja, who led the India business for nearly four years, is stepping down to explore new opportunities. However, he will continue with the firm until July next year to help ensure a smooth transition.

Sumaya has been with Julius Baer for 17 years and currently heads the bank’s global non-resident Indian (NRI) business. Along with his existing responsibilities, he will now oversee the company’s India operations during the transition period.

In his new role, Sumaya will manage both the domestic India business and Julius Baer’s global Indian client network spread across markets including the Middle East, Asia, Switzerland and the UK.

Senior executives at Julius Baer said Sumaya’s long experience with the company and strong understanding of Indian clients would help maintain continuity and support future growth plans.

During Papneja’s tenure, the bank widened its product offerings and expanded its leadership team in India. The company credited him with helping accelerate growth in one of its key markets.

The company said India remains an important growth market for the bank. Over the past few years, Julius Baer has expanded its presence across the country by opening new offices and strengthening its wealth management business.

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Kiran Mazumdar-Shaw names niece successor at Biocon

Biocon founder and chairperson Kiran Mazumdar-Shaw has announced a structured succession plan for the biotechnology major, naming her niece Claire Mazumdar as her eventual successor. The transition marks a significant leadership shift at one of India’s leading biopharmaceutical companies, while also ensuring continuity in its long-term vision.

According to reports, Mazumdar-Shaw has outlined a phased leadership transfer over the next five years. Under the plan, Claire Mazumdar will gradually move through key leadership positions—starting from a board-level role, progressing to vice-chair, and eventually taking over as chairperson of Biocon.

Mazumdar-Shaw clarified that she is not stepping down immediately and will continue to remain actively involved in the company’s operations during the transition period. She emphasized that the succession is designed to be gradual and structured to maintain stability within the organisation.

Claire Mazumdar currently serves as the founder and chief executive officer of Bicara Therapeutics, a cancer-focused biotechnology company that was incubated with early support from Biocon. The firm is also listed in the United States. She is expected to bring her global biotech and oncology expertise into Biocon’s next phase of growth.

Claire’s academic and professional background has also been highlighted in reports. She holds advanced degrees in cancer biology and has experience working in biotech venture creation and strategic leadership roles. Her appointment is being seen as a continuation of Biocon’s science-driven leadership approach.

Biocon, founded by Kiran Mazumdar-Shaw in 1978, has grown into a global biosimilars leader with a strong presence in international markets. The company operates in complex biologics and biosimilars used in treatments for diseases such as cancer, diabetes, and autoimmune disorders.

The succession plan reflects Mazumdar-Shaw’s intent to preserve the company’s legacy while preparing for future growth in biotechnology and life sciences. It also signals a carefully managed generational transition within one of India’s most prominent biotech firms.

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Tata Trust rift deepens as two trustees exit

A disagreement within Tata Trusts has led to two senior trustees, Venu Srinivasan and Vijay Singh, stepping down from the Tata Education and Development Trust (TEDT). Their exit follows a vote against their reappointment by fellow trustee Mehli Mistry, which prevented their continuation.

Both Srinivasan, who is chairman emeritus of TVS Motor, and Singh, a former bureaucrat, were due for reappointment. However, under trust rules, all trustees must agree unanimously for such decisions. With one vote against them, their renewal did not go through, leading to their exit from May 11.

TEDT is part of the broader Tata Trusts structure, which oversees major philanthropic and educational initiatives and also plays an important role in the governance of Tata Sons. The development highlights internal differences within the group’s top decision-making circle.

The vote by Mehli Mistry proved to be the deciding factor. While the reasons for disagreement have not been made public, the outcome reflects differing views among trustees on appointments and governance matters.

The timing of the exits is also important, coming just ahead of a scheduled Tata Trusts board meeting. The meeting is expected to focus on governance issues and board structure, and the recent developments are likely to be part of those discussions.

Venu Srinivasan has been a long-standing figure in the Tata ecosystem and also serves as vice-chairman of Tata Trusts. His departure from TEDT raises questions about whether there will be any impact on his other roles within the group.

The situation points to growing differences within the Trusts, which have traditionally operated with a strong sense of unity. In recent months, however, internal discussions around decision-making and appointments have become more visible.

Also Read: Apple settles $250mn case over Siri AI delays

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Kumar Mangalam Birla is Vi’s non-executive Chairman

Vodafone Idea (Vi) has brought back Kumar Mangalam Birla as its Non-Executive Chairman, in a move seen as a fresh push to revive the struggling telecom company. The appointment came into effect on May 5, with Ravinder Takkar stepping down from the chairman role and taking up a new position as Non-Executive Vice Chairman.

Birla’s return comes at a time when Vodafone Idea is trying to stabilise its business after years of financial pressure. The company has been dealing with high debt, stiff competition, and the need to raise funds to keep operations strong. His comeback is being viewed as a sign that the promoters are stepping in more actively to guide the company forward.

The market reacted positively to the announcement. Vodafone Idea’s shares rose around 5% soon after the news, showing that investors are hopeful about the company’s direction under Birla’s leadership.

Birla had earlier stepped down as chairman in 2021 during a difficult phase for the company. His return now suggests renewed focus on long-term planning and improving the company’s financial health.

Ravinder Takkar, who led Vodafone Idea through some of its toughest years, will continue to remain involved in the company. His shift to a vice chairman role is expected to ensure continuity while allowing Birla to take charge of overall strategy.

Vodafone Idea has been losing subscribers and facing strong competition from larger telecom players. However, recent developments, including government support and plans to raise funds, have given some hope that the company can recover.

With Birla back in a key position, the company is expected to focus on strengthening its network, improving services, and rebuilding trust among customers and investors.

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Epigamia appoints Ritesh Gauba CEO, elevates Goel

Epigamia has announced a major leadership change, appointing Ritesh Gauba as its new Chief Executive Officer while elevating Ankur Goel to co-founder and Chief Operating Officer. The move comes as the company looks to strengthen its leadership and build on its recent growth.

The transition follows a strong year for the dairy and healthy foods brand, which recorded over 50% growth in FY26. This performance was driven by better execution, product innovation, and expansion across markets. The company is now aiming to maintain this momentum with a more defined leadership structure.

Ankur Goel, who has been with Epigamia for several years, played a crucial role during a challenging phase for the company. He stepped in to lead operations after the passing of co-founder Rohan Mirchandani in late 2024. Under his leadership, the company not only stabilised but also delivered one of its best-performing years. His elevation to co-founder reflects his contribution and continued importance to the business.

Ritesh Gauba brings extensive experience in the FMCG sector. Before joining Epigamia, he served as General Manager for India at Pladis and has held senior roles at companies such as Mars and Britannia. His expertise in building consumer brands and driving growth is expected to help Epigamia scale its business further.

The leadership change has the backing of the company’s investors, who view it as a step towards long-term growth. With Gauba focusing on overall strategy and expansion, and Goel continuing to drive operations, the company aims to strengthen its position in the competitive packaged foods market.

Epigamia has built a strong presence in categories like yogurt, smoothies, and protein-based snacks, catering to health-conscious consumers. With a sharper leadership focus, the company plans to expand its product portfolio and deepen its reach across India.

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Rohit Jain camed RBI Deputy Governor

The government has appointed Rohit Jain as Deputy Governor of the Reserve Bank of India for a period of three years, marking an important leadership change at the central bank.

The appointment was cleared by the Appointments Committee of the Cabinet and will take effect from May 3, 2026. Jain replaces T Rabi Sankar, whose tenure recently concluded.

A career central banker, Jain brings close to three decades of experience within the RBI. He is currently serving as an Executive Director and has handled several key responsibilities during his tenure. His work has largely focused on banking supervision, risk management, and financial system oversight, areas that are critical to maintaining stability in the sector.

In his most recent role, Jain was associated with the Department of Supervision, where he dealt with risk assessment, analytics, and monitoring vulnerabilities in banks. His deep understanding of the financial system is expected to help the RBI navigate ongoing challenges.

The appointment comes at a time when the central bank is dealing with a rapidly evolving financial landscape. Issues such as digital banking, cybersecurity risks, and global economic uncertainties are increasingly shaping policy decisions. Jain’s experience in supervision and risk is likely to play a key role in addressing these concerns.

While his specific responsibilities as Deputy Governor are yet to be announced, the RBI is expected to assign him a portfolio soon after he formally takes charge. Deputy Governors typically oversee major areas such as banking regulation, financial markets, payment systems, and aspects of monetary policy.

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Share.Market CEO Ujjwal Jain exits PhonePe

PhonePe’s stockbroking platform Share.Market is undergoing a leadership change, with its CEO Ujjwal Jain stepping down after spending about four years with the company.

Jain shared the news through a public post, where he described his exit as the close of one chapter and the start of another. Rather than calling it a farewell, he hinted that he is preparing to begin something new, possibly another venture in the financial technology space.

He joined PhonePe in 2022 after the company acquired his startups, WealthDesk and OpenQ. These platforms were focused on helping users invest using research-backed strategies and simplified tools. Following the acquisition, Jain took charge of building PhonePe’s presence in the investment and stockbroking segment.

Under his leadership, Share.Market was launched in 2023 as part of PhonePe’s effort to expand beyond digital payments into a broader financial services platform. The idea was to tap into India’s growing base of retail investors and offer them an integrated investing experience.

However, the online broking space in India is highly competitive. Established players like Zerodha, Groww, and Angel One already have a strong foothold, making it challenging for new entrants to scale quickly. Share.Market has so far remained a relatively smaller player in this crowded market.

In his message, Jain looked back on his journey of building investment-focused products, starting from his early ventures to leading Share.Market. He also expressed optimism about what lies ahead, suggesting that he wants to take on new and bigger challenges.

Jain’s departure comes at a time when PhonePe is continuing to diversify its offerings and strengthen its position in the fintech ecosystem. The company, backed by Walmart, has been expanding into areas such as lending, insurance, and wealth management as it prepares for its next phase of growth.

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Adobe CEO sells $18.2 mn in company shares

Shantanu Narayen, the chief executive of Adobe Inc., has sold shares worth about $18.2 million, according to a recent regulatory filing.

The sale involved around 75,000 shares and was carried out on April 28. Such transactions by top executives are not unusual and are often part of personal financial planning or pre-scheduled trading plans.

However, stock sales by senior leaders are closely watched by investors, as they can sometimes offer clues about how insiders view the company’s future.

The development comes at a time when Adobe is going through a leadership transition. Narayen, who has led the company for nearly two decades, is expected to step down as CEO once a successor is named, though he will continue in the role of chairman.

During his time at the helm, he played a major role in transforming Adobe into a leading global software company, especially by shifting its business to a subscription-based, cloud-driven model.

The company is now adapting to rapid changes in the tech industry, particularly with the growing influence of artificial intelligence in creative tools and digital services.

While the share sale has attracted attention, there is no indication that it reflects any immediate concerns about the company’s performance.

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