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Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve

<ul><li>Kolkata-based <keyword id="14376953" type="General" weightage="20" keywordseo="Annapurna-Swadisht" source="Orion">Annapurna Swadisht</keyword> has received bids for ₹3,835 crore as against issue size of ₹30.25 crore.</li><li>The IPO opened for subscription from September 15 to September 19.</li><li>Shares of the company will get listed on the SME NSE platform.</li></ul>Kolkata-based Annapurna Swadisht which recently closed its IPO on September 19 has been subscribed by 190.49 times by investors. The IPO opened for subscription from September 15 to September 19. The IPO is different from the rest of the lot as it will be listed on the NSE SME platform. NSE SME is the platform at the National Stock Exchange for small and medium enterprises to list their shares publicly. The companies can migrate to the mainboard of exchange after fulfilling certain conditions. The IPO received bids of ₹3,835 crore as against issue size of ₹30.25. The price band of the IPO was at ₹68-70 per share. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45.85 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">301.13 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">225.54 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">190.49 times </td></tr></tbody></table>The company will have to mandatorily be listed and traded on the SME Platform of BSE for a minimum period of two years from the date of listing and only after that it can migrate to the main board of the NSE as per the SEBI guidelines. The company is a manufacturer of snacks and food products under its brand ‘Annapurna’ where it sells -- fryums, cakes, candy, namkeen, chips and Gohona Bori. It sells products under brand names such as Jackpot, Chatpata Moon, Balloon, Finger, Rambo, Makeup Box, Dhamaka, Phoochka, Jungle Adventures, Ringa, Bachpan Ka Pyaar, Kurchure, Cream Filled Cake Vanilla, Cream Filled Cake Litchi, among others. The company has two manufacturing units in Asansol and Siliguri. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹13.74 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹20.29 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹61.04 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹34 lakh </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹51 lakh ₹ </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2.41 crore </td></tr></tbody></table> The company plans to utilise the net proceeds from the IPO for funding the capital expenditure requirements and general corporate purposes. The IPO will be listed on exchanges on September 27. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/travel-boom-aids-oyos-numbers-as-it-revives-its-ipo-plans/articleshow/94331671.cms">Travel boom aids OYO’s numbers as it revives its IPO plans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rally-in-banking-stocks-continue-as-credit-growth-picks-margins-get-a-boost/articleshow/94324519.cms">Rally in banking stocks continue as credit growth picks &amp; margins get a boost</a>

Snack maker Annapurna Swadisht’s SME IPO is subscribed by 190 times

<ul><li>Apple launched its new game subscription service, Apple Arcade, during the September Special Event. </li><li>Apple’s claims that is the first gaming service to sync games across mobile, TV, and desktop. </li><li>But that might not be enough to give an edge over Google since its user pool is much smaller and Apple Arcade is restricted to iOS users. </li></ul>Apple’s September launch took off with Apple CEO, Tim Cook, announcing <a href="https://www.businessinsider.in/apples-new-subscription-gaming-service-launches-september-19-and-costs-5-per-month/articleshow/71071209.cms">Apple Arcade</a> — the company’s gaming subscription service. Apple claims that this is the world’s first gaming service to sync games across mobile, TV and desktop. In Apple’s case, that means that you will be able to play the same games through a common subscription on your <a href="https://www.businessinsider.in/this-is-the-iphone-11/articleshow/71071731.cms">iPhone</a>, <a href="https://www.businessinsider.in/apple-just-unveiled-a-new-10-inch-ipad-launching-later-this-month-for-329/articleshow/71071358.cms">iPad</a>, Mac and <a href="https://www.businessinsider.in/the-apple-tvs-best-feature-is-these-incredible-4k-screensavers-filmed-by-drones-and-helicopters-heres-how-to-get-them-on-your-computer/articleshow/70999374.cms">Apple TV</a>. Apple Arcade will be live immediately across 150 countries. And, in India, the subscription will cost only ₹99 per month whereas, in the US, the cost for Apple Arcade is $4.99 (₹358.57). <div type="image" title="applearcadesub_edited" msid="71074977" hostid="261" caption="&amp;lt;p&amp;gt;A subscription to Apple Arcade will cost $4.99 in the US&amp;lt;/p&amp;gt;"></div>
 The company is also offering a month free trial for users who would like the test the service before officially subscribing. Google also plans to launch their own gaming subscription service, <a href="https://www.businessinsider.in/I-tried-Stadia-Googles-big-play-to-conquer-video-games-Its-really-promising-but-theres-still-too-much-we-dont-know-/articleshow/68490221.cms">Google Stadia</a>, sometime next year. Even though Apple has launched ahead of the Alphabet-owned company, it might not be enough to give an edge. <keyword id="8086269" type="UNKNOWN" weightage="20" keywordseo="apple-arcade-vs-google-stadia">Apple Arcade vs Google Stadia</keyword> The games being released on the platform are exclusive to Apple. They have a 100 games ready to go live with the promise of adding new games in the months to come. The company demoed games by Konami, Capcom and Annapurna Interactive at the launch to showcase their catalogue. <div type="image" title="applearcade_edited" msid="71074996" hostid="261" caption="&amp;lt;p&amp;gt;Capcom demo-ing their game at Apple&amp;#39;s September event&amp;lt;/p&amp;gt;"></div>

 Google Stadia, on the other hand, will offer casual gaming as well as heavy gaming titles like Assassin’s Creed Odyssey and Doom (2016). The draw here is that Apple Arcade will not be able to offer graphic intensive games. The explanation is simple. Apple wants you to be able to play games online and offline where the speed of your internet connection is not a determinant so graphic heavy games would take up too much space. It’s based on how you normally play games by downloading them onto your device first. <div type="image" title="applearcade3_edited" msid="71075015" hostid="261" caption="&amp;lt;p&amp;gt;Apple Arcade&amp;#39;s games will be available to download from within the App Store&amp;lt;/p&amp;gt;"></div>

 Stadia doesn’t need you to download the game. It is a cloud based gaming service. The aim is to allow users to play games online that would normally require expensive hardware within Google Chrome, provided they have a good internet connection. According to the company, users will need at least 25 mbps of speed to play a game at 60 frames per second in Full HD resolution. Google’s edge Google Stadia may require a better internet connection in order for you to play its games but it can be accessed by anyone who has access to a Chrome browser. As of August 2019, Google Chrome dominates in the web browser market share with over 50% market share, according to <a href="https://www.w3counter.com/globalstats.php">W3Counter</a>. Apple Arcade will be available to smaller pool of users since its restricted to users with Apple devices. So, even though Apple Arcade has launched ahead of Google Stadia, it’s unlikely to accumulate the same level of interest. According to <a href="https://gs.statcounter.com/os-market-share/mobile/worldwide">StatCounter</a>, Android has 76.23% market share whereas iOS only has 22.17% market share worldwide. In India, that disparity is even <a href="https://gs.statcounter.com/os-market-share/mobile/india">more pronounced</a> with Android dominating with 93.02% market share and iOS limited to 2.65%. See also: <a href="https://www.businessinsider.in/These-are-Apples-new-iPhones-the-iPhone-11-iPhone-11-Pro-and-iPhone-11-Pro-Max/articleshow/71071793.cms">These are Apple's new iPhones: the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max</a> <a href="https://www.businessinsider.in/Heres-everything-that-happened-at-Apples-huge-iPhone-11-launch-event/articleshow/71072017.cms">Here's everything that happened at Apple's huge iPhone 11 launch event</a> <a href="https://www.businessinsider.in/After-announcing-the-iPhone-11-Apple-has-already-stopped-selling-3-older-models-of-the-iPhone-Heres-the-list-of-discontinued-devices/articleshow/71072645.cms">After announcing the iPhone 11, Apple has already stopped selling 3 older models of the iPhone - Here's the list of discontinued devices</a>

Apple Arcade is launching before Google Stadia and is competitively priced — but it has a huge disadvantage

<ul class="summary-list"><li>AWS's Graviton CPU chips are used by over 90% of its 1,000 largest data center customers.</li><li>Graviton chips, launched in 2018, are becoming an important part of AWS's overall business.</li></ul>In 2018, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">Amazon</a> Web Services launched Graviton, its own line of homegrown central processing unit chips for <a target="_blank" class="" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">data center</a> servers. Just six years later, the vast majority of AWS's largest server customers have become Graviton users.Rahul Kulkarni, AWS's director of compute and AI/ML, told Business Insider that more than 90% of the 1,000 largest elastic compute cloud (EC2) customers are running Graviton chips. Customers can only access Graviton chips through AWS's EC2 servers."It just continues to show how Graviton is gaining traction," Kulkarni said.The new data point is the latest indication of Graviton's growing success. AWS previously said that over 50,000 customers, including the 100 largest EC2 users, run Graviton-based servers.Graviton is a key part of AWS's data center business. Designing its own chips allows AWS to reduce data center operating costs because it no longer has to buy CPUs solely from other vendors, like Intel or AMD. Graviton also uses Arm-based designs, which are more cost and energy-efficient than conventional x86-powered chips.Amazon doesn't disclose the size of revenue from its custom silicon business. The company is scheduled to announce its third-quarter earnings on Thursday.Kulkarni said Graviton's price value, energy efficiency, and general performance drive more customer adoption. Big enterprises, such as Epic Games, Databricks, and Pinterest, are all major Graviton customers, he said."We have a lot of engagement going on in custom silicon, and that's an area that we will continue to invest in at a very aggressive pace going forward," Kulkarni said.<h2 id="7b568770-d1b9-4b81-ba12-d502621d504a">AI inference</h2>AWS started considering designing its own custom chips after its SVP and distinguished engineer, James Hamilton, wrote an internal 6-page strategy document in 2013. In 2015, AWS doubled down on this plan by acquiring Israel-based chip designer Annapurna Labs.Bernstein Research wrote last year that Amazon is the "most successful" Arm-based server chip designer, supplying over 50% of the Arm server chips worldwide. It estimated Graviton accounted for roughly 20% of AWS's CPU usage as of mid-2022. AWS offers access to other processors, including Intel or AMD chips.AWS's Kulkarni said Graviton is still mostly used for general computing purposes, but a growing number of customers are using it for CPU-based AI inference and machine learning frameworks. He said that Graviton, now in its fourth generation, has added new features and capabilities that enable unique use cases, like AI inference, that don't necessarily need dedicated machine learning processors."It's a new revenue channel that goes beyond what AWS had anticipated Graviton to be used for," Kulkarni said.In the past couple of years, Amazon has been <a target="_blank" class="" href="https://www.businessinsider.com/amazon-layoffs-10000-employees-grand-challenge-team-dramatic-changes-2022-11">cutting costs</a> across the company, shuttering dozens of projects or scaling down unprofitable units. AWS's chip-designing business appears safe from those cutbacks.During an analyst call in August, Jassy said Graviton has been "very successful" for AWS. He added that <a target="_blank" class="" href="https://www.businessinsider.com/aws-ai-chips-wider-regional-availability-microsoft-google-2024-9">AWS's custom AI chips</a>, Inferentia and Trainium, are expected to follow a similar growth trajectory, even though they are seeing mixed results due to Nvidia's early head start, as <a target="_blank" href="https://www.businessinsider.com/amazon-nvidia-aws-ai-chip-dominance-gpu-trainium-inferentia-2024-5">BI previously reported</a>."It's one of the most strategic areas for us," Kulkarni said. "We will absolutely continue to drive innovation in custom silicon as we have been doing for the past 10-plus years."Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a>) or email (<a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a>). Reach out using a nonwork device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide</a> for other tips on sharing information securely.

Over 90% of AWS's biggest data center customers are now using its homegrown Graviton chips, executive says

<ul><li>47-year-old Geeta Patil runs a homemade snacks business in Mumbai in partnership with her son, Vinit, and his friend, Darshil Savla. </li><li><keyword id="15957848" type="General" weightage="100" keywordseo="patil-kaki" source="Orion">Patil Kaki</keyword> received offers from four of the five sharks on <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2 - <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword>, Anupam Mittal, and Aman Gupta. </li><li>Patil Kaki accepted the offer by Bansal and Mittal who invested ₹40 lakh for 4% equity. </li></ul>In its second season, Shark Tank India has seen all kinds of pitches but that of Patil Kaki, a homemade snacks business, sent four of the five judges into a bidding war. This six-year-old business that started in a 200 square feet kitchen in Mumbai is run by 47-year-old Geeta Patil with two 21-year-old partners – her son Vinit Patil, and his friend Darshil Savla. While Geeta Patil, who runs the eponymous business, has been making and selling snacks ever since her husband lost his job in 2016, it’s the younger partners who gave it a digital spin. Vineet Patil and Savla are college dropouts, who at one point, set up and ran a small IT services business. They set up <a href="https://patilkaki.com/">a website for Patil Kaki </a>helping scale up the business from 15-20 orders a day to around 3,000 orders monthly, as per <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports</a>. Her chaklis, modaks, chivdas, puran poli, and even healthy snacks like makhanas which are now well-packaged well, branded, and available online – generated sales to the tune of ₹1 crore in the first five months of FY23 – as of August 2022 when the Shark Tank episodes were recorded. They hope to end the financial year with sales to the tune of ₹3 crore. “They are the emerging faces of New India. Even two years haven’t passed (since the young partners joined the business), they’ve helped you to make a business worth ₹3 crore,” commented shark and Shaadi.com’s founder Anupam Mittal after hearing their pitch on the show. <cmsannotation type="cmsannotation" annotationid="The bidding begins" comment="subhead2" text="The bidding begins">The bidding begins</cmsannotation> Patil Kaki’s products and business impressed the judges so much that the sharks were fighting for a piece of its pie. It culminated in a bidding war that saw the startup’s valuations more than double within a matter of minutes. Sugar Cosmetics CEO Vineeta Singh was the first to offer ₹40 lakh for 10% equity that valued Patil Kaki at ₹4 crore. Soon after, Aman Gupta, the co-founder of boAt, trumped it by doubling his offer — ₹40 lakh for 5% equity, valuing it at ₹8 crore. Lenskart’s co-founder Peyush Bansal and Shaadi.com’s founder Anupam Mittal then made an offer that Kaki couldn’t refuse — ₹40 lakh for 4% equity that valued it at ₹10 crore. Gupta too matched their offer and wanted to be a solo investor in the company but the Patil Kaki founders accepted the Bansal and Mittal’s joint offer. <cmsannotation type="cmsannotation" annotationid="Inspired by her ‘aai’" comment="subhead2" text="Inspired by her ‘aai’">Inspired by her ‘aai’</cmsannotation> Geeta Patil started selling homemade food after she was inspired by her own aai or mother who whipped up tiffins for 20 people every day, <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports </a>The Better India. She had been making and selling food out of passion before 2016. But afterwards, she converted it into a proper business as she had to shoulder the responsibility of running the household. “I couldn’t afford to take it easy any longer. The first order came from a family in Khar. The best part is that even today, we get orders from them regularly,” shared Geeta with The Better India. Slowly, she started getting orders from offices too. However, it was the pandemic that pushed her to prepare and sell dry snacks too. “We started by serving breakfast at the BMC office. Impressed by our cooking, the employees got a letter from the ward office, allowing us to serve them at the office. However, when the lockdown started, the problems started again. That’s when I started with snacks like chakli, chivda, etc,” said Patil on the show. To cater to the growing business, the team took up a 1,200 sq ft space in Santacruz. Patil Kaki hired its first employee in 2019 and now has a team of <a href="https://patilkaki.com/about-us/">25 people</a>. It claims that 75% of its workforce consists of women who’re working for the first time. <cmsannotation type="cmsannotation" annotationid="Investors bite into snacks businesses" comment="subhead2" text="Investors bite into snacks businesses">Investors bite into snacks businesses</cmsannotation> Foodtech industry has been one of the fastest-growing businesses amongst startups. Even public market investors have taken a shine to two snacks companies that listed on the stock markets late last year. Both the companies – <a href="https://www.businessinsider.in/stock-market/news/bikaji-stocks-why-investors-continue-to-snack-on-this-stock/articleshow/95757704.cms">Bikaji Foods</a> and Annapurna Swadisht raised ₹881 crore and ₹30 crore respectively via public offers. They also received strong investor response for the offers in the form of subscriptions, and also provided listing gains to their investors. Uniquely both these snack companies are skewed heavily towards Indian snacks. Bikaji, that’s endorsed by Amitabh Bacchan, is known for its namkeens like Bhujiya, Jalmuri and sweets like Kaju Katli and more. Kolkata-based Annapurna Swadisht is known for sweets like Gohona Bori in addition to chivdas, chips, and more. SEE MORE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/glass-free-3d-oled-laptop-to-portable-laser-tv-heres-a-look-at-all-futuristic-imaging-and-display-tech-at-ces-2023/articleshow/96789252.cms">Glass-free 3D OLED laptop to portable laser TV: Here’s a look at all futuristic imaging and display tech at CES 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/shark-tank-india-gear-head-motor-rides-high-secures-funding-from-aman-gupta-and-peyush-bansal/articleshow/96785906.cms">Shark Tank India: Gear Head Motor rides high, secures funding from Aman Gupta and Peyush Bansal</a>

An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war

This Tata group stock doubled investors money in just six months

<a href="https://en.wikipedia.org/wiki/Ren%C3%A9e_James#/media/File:Renee-james_2.jpg">Wikimedia Commons</a><ul class="summary-list"><li>Ampere, the company founded by former Intel exec Renee James two years ago, this week stunned the chip industry by releasing a record-breaking new ARM chip for data centers.</li><li>It is the largest most powerful ARM chip to date for cloud computing that matches the performances of traditional x86 chips by Intel and AMD while using far less power, James tells Business Insider.</li><li>Microsoft and Oracle, two companies close with James, have already signed on to use the chip in their clouds.</li><li>This could help them compete with Amazon's cloud. Amazon bought its own ARM chip maker and is using that chip in its own AWS cloud.</li><li>Today "Intel has 98% + share" in the data center server market but ARM chips is the next big thing, James tells Business Insider.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Earlier this week, Ampere, the chip startup founded two years ago by former top Intel exec Renee James, stunned the industry by releasing a powerful new ARM processor for cloud computing data centers.It's the first time a chip based on the energy-efficient ARM technology has been able to go toe-to-toe in terms of raw computing performance with the top-of-the line x86 chips made by Intel and AMD, the chips which currently dominate the data center market. "We started this company two years ago and in two short years, we've come out with a product in cloud that's a breakthrough," James told Business Insider. The Ampere Altra chip has 80 "cores" yet only consumes as much energy (about 210 watts) as much smaller chips, the company says. The chip is being made by contract chip manufacturer TSMC on its tiny 7mm, N7 manufacturing process, the most advanced technology for etching transistors into silicon that are many times tinier than a human hair. A core is the brains of a CPU. Each core is like a mini-computer on the chip, able to process its own tasks. The more cores, the more powerful the server is, able to do more tasks simultaneously.The chip raises the pressure on Intel, which is banking on the data center market as one of its crucial markets for growth under the <a href="https://www.businessinsider.com/intel-robert-swan-ceo-2019-1">leadership of new CEO Bob Swan</a>.The new era of powerful ARM server processors is still in its early days probably isn't an immediate threat to Intel's business today, but it's a clear sign that a market Intel once had virtually all to itself is about to become much more competitive. "The data center markets is growing so much, there's room for more than one winner. Intel has 98% + share. There's room for other players. There's always something that comes next," James says.<h2>From phones to data centers</h2>ARM chips were originally designed for smartphones and tablets with a goal of using less battery life. For years the ARM industry has been eyeing the big, lucrative server and data center market, trying to take those humble, low-power chips and make them formidable enough to handle the most demanding applications like cloud computing.Ampere says that its 80-core chip also performs better than comparable chips built on the legacy x86 architecture, the chips and legacy James helped to create during her years at Intel. James left Intel in 2016."It has features and capabilities unique for the cloud, on top of this higher performance and data throughput," she says. Alan BrandtThere's been some controversy surrounding how Ampere came up with its benchmark comparisons. Each chip company, Intel and AMD included, tends to use its own custom compiler software for such tests (software that converts the code from the language humans used to write the app, into the machine-code instructions that the chip reads).As you might imagine, when doing comparison testing, companies tend to set up the tests to make their own wares perform at the best. Ampere didn't use Intel or AMD's compiler but chose to a popular open source one called GCC. They argue that its a more real-world test, because that compiler is more widely used, especially in the ARM server world.The point is, while the benchmark performance claims - i.e. faster or better- should be taken with a grain of salt when they come from any vendor, the underlying result for Ampere is still impressive: this new ARM chip is proven ready for the data center."We are bringing the highest core count, the highest throughput, the lowest power for the data center. That's an accomplishment in two years, a hard thing to do. We've never seen an alternative platform seen this level of performance," James who is understandably proud said. Ampere has also already <a href="https://amperecomputing.com/ampere-altra-industrys-first-80-core-server-processor-unveiled/">publicly announced</a> two big cloud customers, Microsoft (who James worked closely with during her long years at Intel) and Oracle (where James is a board member). Ampere also has a number of other big name partners who are working to make their tech perform well with the new chip including VMware, Linux-maker Canonical, Lenovo and Micron.Ampere isn't the only ARM data center vendor hoping to turn this into the next big chip market. Marvell offers one. And a group of former Google and Apple chip designers came out of stealth late last year with a ARM startup called Nuvia, backed Dell and Mayfield among others.Perhaps the biggest proving point of all is Amazon, who bought Annapurna Labs and which is making an ARM chip for use in the AWS cloud. That's not a chip for sale to the world, but it means that the world's biggest clouds are all running ARM.Are you an insider with insight to share? Contact Julie Bort via email at <a href="mailto:jbort@businessinsider.com">jbort@businessinsider.com</a> or on encrypted chat app Signal at (970) 430-6112 (no PR inquiries, please). Open DMs on Twitter <a href="https://twitter.com/Julie188">@Julie188.</a> Get the latest Intel stock price<a href="http://markets.businessinsider.com/stock/intc-Quote"> here.</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/coronavirus-myths-debunked-wuhan-china-2020-2">Pathologists debunk 13 myths about the coronavirus, including why masks won't help</a></h3>

Renee James has wowed the chip industry with a new ARM chip for data centers that has put Intel, her former company, on notice

Clodagh Kilcoyne/ReutersAmazon CEO Jeff Bezos<ul class="summary-list"><li>In its protest over the lucrative <a href="https://www.businessinsider.com/category/jedi">JEDI contract,</a> Amazon claims that its cloud is better than Microsoft's cloud.</li><li>While <a href="https://www.businessinsider.com/category/amazon">Amazon</a> has basically argued that the main reason it lost this contract is because of President Trump, it lists several areas where it thinks its cloud technology and experience are superior to <a href="https://www.businessinsider.com/category/microsoft">Microsoft's</a>.</li><li>The document gives a rare view into how Amazon views its competitive strengths compared to its biggest cloud rival.</li><li>But Microsoft also has game in those areas and at least one Wall Street analyst doesn't think the DoD is going to change its mind.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary" target="_blank" rel="noopener">Click here for more BI Prime stories</a>.</li></ul>When Amazon executives are asked to compare their offerings with their competitors they typically dodge the question by saying the company is focused on customers, not competitors. But in its <a href="https://www.businessinsider.com/jedi-amazon-donald-trump-jeff-bezos-pentagon-billion-contract-complaint-2019-12">formal protest over competitor Microsoft</a> winning the $10 billion winner-take-all JEDI cloud contract, Amazon was forced to do exactly that.In the redacted protest documents that <a href="https://sqoop.com/details/pacer/cofc/1:19-cv-01796">became public on Monday,</a> Amazon makes the following assertion: that Amazon's cloud technology is "objectively superior" to Microsoft's and therefore the only reason the DoD awarded the contract to Microsoft was to please Donald Trump.Amazon then gave the enterprise world a rare glimpse at the ways Amazon's believes its cloud to be superior. The top way is a technology called Amazon Nitro. The document repeatedly mentions it, for instance:"AWS offered advanced cloud capabilities that Microsoft could not match. These capabilities included AWS's leading Nitro architecture - AWS's purpose-built, hardware-based virtualization tool that provides exceptional security and performance for DoD users."Nitro is a custom computer chip, computer card and software. It originally came from Amazon's $350 million acquisition of a secretive Israeli company called Annapurna Labs back in 2015. Nitro is a hardware method that essentially lets each computer program running in AWS think that it has got the underlying computer server all to itself when in fact, it's sharing that server with lots of other programs. That kind of technology is known as virtualization and it isn't new. Microsoft has had its own virtualization software for decades. In the document, Amazon compares its Nitro to Microsoft's software and, as you might expect, finds Microsoft's software lacking. While Nitro is proprietary to Amazon's cloud, the industry considers Nitro a member of a cloud computing trend known as "smart cards." Microsoft also uses smart cards in its cloud, albeit in a different form. Microsoft's form is known as Microsoft Azure's FPGA, <a href="https://www.datacenterknowledge.com/networks/do-smart-network-cards-have-future-outside-hyperscale-data-center">reports Data Center Knowledge.</a>Amazon also feels that the people who awarded the contract failed to give AWS enough credit for its work with another secretive government agency. The name of that contract and the organization is redacted but the industry knows that Amazon <a href="https://www.businessinsider.com/cia-600-million-deal-for-amazons-cloud-2013-3">is famously running the CIA's cloud</a>, a contract it won in 2013.<h2>Amazon wants credit for working with the Agency</h2>"DoD could not have reasonably concluded that Microsoft, which lacks experience operating classified cloud environments and hosting classified data, proposed a more effective performance approach than AWS," the document says.However, in 2018, as both companies were crafting their bids for the JEDI contract, Microsoft did win a smaller cloud contract from the CIA and other intelligent agencies. <a href="https://www.geekwire.com/2018/microsoft-inks-cloud-deal-intelligence-community-ahead-decision-huge-pentagon-cloud-contract/">As Geekwire reported</a> at the time, while this smaller contract might not rival what Amazon is doing for the CIA, it did mean that Microsoft's cloud met government security standards.Thomson ReutersAmazon also argues that the DoD made errors in evaluating the technical merits of its clouds and that it changed the original list of requirements in ways that harmed Amazon's chances and increased Microsoft's.That's an interesting take because, during the two years from 2017-2019 that the enormous cloud contract was out to bid, Amazon's competitors bitterly complained that Amazon had found ways to stack the deck in its own favor.Oracle even sued over it <a href="https://www.federaltimes.com/2019/07/12/oracle-loses-argument-in-jedi-court-case/">and lost</a>, with the court ruling that the DoD did not demonstrate any conflict of interest in the RFP process. (Oracle is appealing.)Amazon mentions these perceptions of its competitors in the protest, writing:"Indeed, AWS's performance [... redacted words] was one of the primary drivers of industry concerns that DoD designed the JEDI Contract specifically for AWS because the industry believed AWS, [... redacted words], was ahead of the rest of the industry with respect to hosting classified data."<h2>Microsoft's bid for the initial phase may have been lower than Amazon's</h2>But despite Amazon's claims that the contract award was based on pleasing Trump, it's not clear if Amazon was actually the lowest-cost bidder for the initial contract period. The document redacted Amazon's bid amount, although it did say that Amazon was forced to increase its price as DoD refined its list of requirements. The document revealed that Microsoft's evaluation bid came in at $678,517,417.38.It's worth pointing out that would-be government contractors commonly file protests when they lose out on contracts with this much money at stake. It's also worth pointing out that Microsoft already has decades of Federal contracts with the DoD and other agencies.Associated PressTime will tell if Amazon's arguments will work. At least one Wall Street analyst, <a href="https://www.businessinsider.com/amazon-web-services-microsoft-jedi-ives-noise-2019-12">Wedbush Securities analyst Dan Ives,</a> believes the protest will be futile.Meanwhile, Microsoft refutes Amazon's claims that AWS is a technically superior cloud. The company told <a href="https://www.businessinsider.com/microsoft-amazon-jedi-lawsuit-comment-2019-12">Business Insider's Ashley Stewart:</a>"We have confidence in the qualified staff at the Department of Defense, and we believe the facts will show they ran a detailed, thorough and fair process in determining the needs of the warfighter were best met by Microsoft," a Microsoft spokesperson said in a statement. "We've worked hard to continually innovate over the past two years to create better, differentiated offerings for our customer."<ul class="read-more-links"><li>Now read:</li><li><a href="https://www.businessinsider.com/amazon-seahawks-microsoft-cloud-customer-2019-11">Amazon Web Services brags about snagging a key customer from Microsoft: The Seattle Seahawks, owned by late Microsoft cofounder Paul Allen</a></li></ul><a href="https://www.businessinsider.com/intelligence/bi-intelligence-daily?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=microsoft&amp;itm_campaign=bi-intelligence-daily"></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/bill-gates-warren-buffett-billionaires-donate-money-2017-10">On Giving Tuesday, see how Bill Gates and Warren Buffett are changing the world like no other humans in history</a></h3>

Amazon thinks its cloud is 'objectively superior' to Microsoft's because it has a custom chip called Nitro. Here's everything Amazon says the Pentagon missed with JEDI.

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Good morning! It's a freezing cold start to the day in London. Here's the tech news you need to know this Friday.
1. <a href="http://www.businessinsider.com/angela-ahrendts-apple-compensation-2015-1">A new filing from Apple reveals that it's paying its retail chief Angela Ahrendts $73.4 million.</a> CEO Tim Cook's pay is $9 million.
2.<a href="http://www.businessinsider.com/ebays-q4-earnings-call-was-brutal-2015-1"> eBay's CEO said he's glad to see an end to 2014 during the company's earnings call.</a> The company's CFO says "It's going to get worse before it gets better."
3. <a href="http://www.businessinsider.com/uber-driver-data-report-2015-1">Uber released its first report on its drivers.</a> Data shows that 14% of its drivers are women.
4. <a href="http://www.businessinsider.com/a-writer-linked-to-underground-hackers-is-going-to-prison-for-threatening-an-fbi-agent-2015-1">Activist and writer Barrett Brown has been sentenced to five years in prison.</a> He was connected to hacking group Anonymous and helped share stolen data.
5. <a href="http://www.businessinsider.com/box-raises-ipo-price-2015-1">Box has raised its IPO price, bringing its valuation to $1.67 million.</a> It was raised to $14 a share from the initial $11 to $13 estimate.
6. <a href="http://www.businessinsider.com/microsoft-smart-scarf-prototype-2015-1">Microsoft is developing a smart scarf that can be controlled using your phone.</a> It's still an early prototype, however.
7.<a href="http://www.businessinsider.com/tumblr-launches-creatrs-network-for-artists-2015-1"> Tumblr has launched a new program that will see users create artwork for internal initiatives.</a> Those users will be called "Creatrs."
8. <a href="http://dealbook.nytimes.com/2015/01/22/amazon-to-buy-israeli-chip-developer/?smid=tw-dealbook&amp;seid=auto&amp;_r=0">Amazon is acquiring Israeli chip developer Annapurna Labs.</a> It's expected to pay around $350 million for the company.
9. <a href="http://www.businessinsider.com/blackberry-ceo-john-chen-imessage-net-neutrality-2015-1">The CEO of BlackBerry wants to force Apple to bring iMessage to BlackBerry phones.</a> He wants a kind of net neutrality for apps.
10. <a href="http://www.businessinsider.com/r-uber-to-restart-cab-service-in-indias-delhi-spokesman-2015-1">Uber is resuming service in New Delhi.</a> It was banned after one of its drivers was accused of raping a passenger.

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