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<ul><li><keyword id="19912297" type="General" weightage="20" keywordseo="NVIDIA" source="keywords" meta.keywordsubtype="org" meta.entityname="NVIDIA" meta.hostid="261" meta.entityid="NVIDIA">NVIDIA</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> have partnered to build AI computing infrastructure.</li><li>NVIDIA will also supply the latest Blackwell AI chip for Reliance Industries’ new data centre.</li><li>The partnership was announced at the NVIDIA AI Summit India.</li></ul> <keyword id="16173150" type="General" weightage="20" keywordseo="NVIDIA-CEO-Jensen-Huang" source="Orion">NVIDIA CEO Jensen Huang</keyword> at the NVIDIA AI Summit India announced a partnership with Mukesh Ambani-led Reliance Industries to an artificial intelligence (AI) computing infrastructure and an innovation centre in India. As part of the partnership between the two companies, Reliance Industries will use the latest Nvidia Blackwell AI chip for its new major data centre. The company will use NVIDIA's cutting-edge technology, including the GB200 GPUs. The two companies are aiming to accelerate India's transformation into a global AI powerhouse with the partnership, banking on the nation's talent pool and growing digital infrastructure. "India is already world-class in designing chips, Nvidia's are designed here in Bengaluru, Hyderabad, Pune. A third of Nvidia is Indian, maybe more," Huang said. While praising the country’s rapid digitalisation in recent years and talking about the country’s potential in the AI sector, Huang said, “Very few countries have this amazing natural resource called IT and computer science expertise.” "We are at the doorsteps of the new intelligence age. India will be one of the biggest intelligence markets. It's not just our aspiration, but also the raw gene power which will help drive intelligence,” said Reliance Industries chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>. "India will not just deliver CEOs to world, but also AI services. Like we did with data, in few years from now we can surprise the world with what Indians can achieve in intelligence," Ambani added. Ambani revealed the company’s plans to establish a scalable infrastructure capable of expanding beyond 1 gigawatt, powered by green energy. "We are building this so we can scale, and we think big," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deepak-builders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114533208.cms">Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/synology-introduces-new-enterprise-solutions-reports-significant-growth-in-india/articleshow/114504353.cms">Synology introduces new enterprise solutions, reports significant growth in India</a> <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a>

NVIDIA and Reliance Industries to build AI computing infrastructure in India

<keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>'s <keyword id="20479923" type="General" weightage="100" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="261" meta.entityid="Reliance Group">Reliance Group</keyword> has launched the <keyword id="24017314" type="General" weightage="20" keywordseo="Reliance-Group-Corporate-Centre" source="keywords">Reliance Group Corporate Centre</keyword> (RGCC) as part of its <keyword id="24017313" type="General" weightage="20" keywordseo="2030-growth-strategy" source="keywords">2030 growth strategy</keyword>. "The RGCC will serve as a strategic hub, providing guidance to the Group's companies as they pursue new opportunities and technological advancements," the firm said in a statement. The core team of RGCC will include experienced leaders of the Group -- Sateesh Seth, Punit Garg, and K Raja Gopal. Garg currently leads as CEO of <keyword id="20144587" type="General" weightage="20" keywordseo="Reliance-Infrastructure" source="keywords">Reliance Infrastructure</keyword>, while K Raja Gopal has been at the helm of Reliance Power for six years. He has over 27 years experience in the power sector. Other leaders from the Group companies will also be invited to the RGCC. "The establishment of RGCC aims to harness the in-house expertise of these seasoned leaders to support the Group's forward-looking growth initiatives and cultivate a new generation of leadership for future project," the statement said. The RGCC will play a pivotal role in mentoring and developing emerging leaders, blending experience with fresh talent to propel the Group towards sustained growth. A Reliance Group spokesperson highlighted, "We are thrilled to introduce RGCC, a team of seasoned professionals with a broad spectrum expertise. This strategic move aims to steer the Group's future growth by tapping into the vast experience of these leaders, will help navigate industry challenges and capitalise on new opportunities, drive innovation, and deliver exceptional value to our customers and stakeholders. We believe RGCC will be instrumental in shaping the next phase of our Group's success." In recent developments, Reliance Infrastructure Ltd and Reliance Power Ltd, key entities under the Reliance Group, have achieved zero bank debt status and outlined plans for expansion into new growth areas. Reliance Power has secured 1,270 MW of renewable power projects in Bhutan, while Reliance Infrastructure, through its subsidiary Reliance Defence Ltd, is setting up a manufacturing facility for small arms, ammunition, and explosives in Ratnagiri, Maharashtra, spanning 1,000 acres. "To support these ambitious expansion plans, the companies have announced a combined fundraising effort of Rs 17,600 crore. This includes Rs 4,500 crore via preferential equity issues, Rs 7,100 crore from Varde Partners through equity-linked long-term FCCBs, and Rs 6,000 crore via Qualified Institutional Placement (QIP), with Reliance Power and Reliance Infrastructure each targeting Rs 3,000 crore," it added.

Anil Ambani's Reliance Group sets up centre to helm 2030 growth strategy

Shares of state-owned behemoth Life Insurance Corporation (<keyword id="19903588" type="General" weightage="20" keywordseo="LIC" source="keywords">LIC</keyword>) have outperformed rivals like <keyword id="20079495" type="General" weightage="20" keywordseo="HDFC-Life" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Life" meta.hostid="261" meta.entityid="HDFC Life">HDFC Life</keyword> and <keyword id="21278696" type="General" weightage="20" keywordseo="ICICI-Prudential-Life" source="keywords">ICICI Prudential Life</keyword>, as it placed bets on India's growth sectors, including infrastructure, while the private sector concentrated its bets on tech, consumer and consumer-related <keyword id="19910880" type="General" weightage="20" keywordseo="BFSI" source="keywords">BFSI</keyword> companies. LIC's stock has gained nearly 79% from Rs 620 on June 18, 2023, to Rs 1,109.15 at the closing on Tuesday, according to stock exchange data. In contrast, HDFC Life gave a negative return with Tuesday's closing price of Rs 646.55 on the BSE as compared to Rs 666.55 a year back. ICICI Prudential Life Insurance Co delivered a return of 12%, considering its stock price rise from Rs 582 on June 18, 2023, to Rs 654.10 on June 16, 2024. Over the past one year, <keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword> Life Insurance shares have risen from Rs 1,314 to Rs 1,621.20, delivering a return of 23%. Capital market analysts said <keyword id="19935977" type="General" weightage="20" keywordseo="insurance-companies" source="keywords">insurance companies</keyword> make money in two ways - charging premiums for policies and then investing the premiums into assets. It is the latter that generates the bigger delta in profits, thus impacting value creation and managing risks. Global majors, including Warren Buffet-owned Berkshire Hathaway, have been successful due to their ability to make superior investments. Most Indian insurance companies are yet to capitalise on the emergence of the country's <keyword id="19997284" type="General" weightage="100" keywordseo="infrastructure-sector" source="keywords">infrastructure sector</keyword>, analysts said. Indian insurance companies have concentrated investments in the BFSI, IT, and consumer sectors - all of which have been underperformers in the recent past. Only 8-10% of their investments are in the infrastructure sector. This is far less when compared to global standards. Large global insurance companies -- such as Allianz, Nippon Life Insurance, and Metlife, and other insurers like Berkshire Hathaway -- have much larger exposure ranging from 15 to 30% to the infrastructure sector, analysts noted. Over the past few years, global insurers have been increasingly considering infrastructure investments as 'core' investments as the stable and long-term cash flows of infrastructure assets naturally align with the liabilities of insurers. Additionally, infrastructure assets have defensive characteristics of high barriers to entry, strong pricing power, structural growth, and predictive cash flows, and listed infrastructure can provide investors with inflation-protected income and solid capital growth. <h2>Infra sector outperforming all</h2>For India, a strong government focus on the sector with large spending, supporting initiatives and encouraging policies, and improving governance has helped the infrastructure industry has come of age. This has helped the infra sector to outperform all other sectors, according to analysts. They said the high focus on retail loans, and the strategic reluctance to look at infrastructure for growth opportunities is proving detrimental for the shareholders of such companies. SBI, with its higher exposure to the infrastructure sector, has seen its stock gain 48% in the year (from Rs 592 to Rs 880.95 on Tuesday), while those of its private counterparts HDFC Bank, Kotak Mahindra Bank, ICICI Bank and Axis Bank have gained only in the range of (-)3%to 24%. Kotak and HDFC Banks with negligible exposure to the infrastructure sector are the worst performing, with their shares giving a negative return, stock exchange data showed. Kotak Mahindra Bank shares were at Rs 1,895 on June 18, 2023, and closed at Rs 1,805.20 on Tuesday. HDFC Bank closed at Rs 1,619.20 on BSE on Tuesday, down from Rs 1,679 a year back.

Exposure to India's infra sector helps LIC, SBI outshine peers

<ul class="summary-list"><li>America is ready to scale up its AI infrastructure.</li><li>The generative AI boom has put data center capacity and energy constraints into focus.</li></ul>America is stepping up plans to maintain an edge in the <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">generative AI race</a>.A key part of that strategy is making significant investments in domestic infrastructure — from data centers to chip production — so that it is less reliant on countries such as Taiwan, where tensions with neighboring China loom large.On Tuesday, <a target="_blank" href="https://news.microsoft.com/2024/09/17/blackrock-global-infrastructure-partners-microsoft-and-mgx-launch-new-ai-partnership-to-invest-in-data-centers-and-supporting-power-infrastructure/">Microsoft and BlackRock announced the creation of a $30 billion mega-fund</a> designed to "enhance American competitiveness in AI." Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful.Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth.It means the fund — which involves the Global Infrastructure Partners unit BlackRock acquired in January and Abu Dhabi investment firm MGX — will "make investments in new and expanded data centers." It will also fund the energy infrastructure needed to power them.According to the fund's backers, other investments will be directed to "US partner countries." With debt financing, the fund's overall size could reach $100 billion. "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance," said <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-brad-smith-tiktok-trump-washington-dc-2020-8">Microsoft president Brad Smith.</a><div type="image" title="microsoft brad smith" height="2426" width="3500" msid="113466371" hostid="261" sizebytes="243638"></div>If America is serious about leading on AI — something the next president will <a target="_blank" class="" href="https://www.businessinsider.com/china-xi-jinping-ai-wreak-havoc-america-world-economy-2024-6">inevitably contend with as China ramps up its efforts</a> — it has little choice but to future-proof the technology by building more critical infrastructure.Data centers, chip manufacturing plants, and energy supply are all vital for making AI tick. But each of these domains is subject to potential pitfalls — be it supply chain vulnerabilities or demand bottlenecks.The US got the ball rolling on supporting its self-sufficiency with semiconductors — the hardware developed by the likes of Nvidia to provide computing power for large language models — with the <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/">CHIPS Act, passed by Congress in 2022.</a>While <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-taiwan-tsmc-jensen-huang-china-disruption-2024-9">Nvidia</a> and other US tech firms have led the chip space by focusing on design, manufacturing has largely been outsourced to Taiwanese firm TSMC. Given rising fears over a <a target="_blank" class="" href="https://www.businessinsider.com/navy-seal-team-six-preparing-china-invasion-of-taiwan-report-2024-9">possible Chinese invasion of Taiwan</a>, there are concerns about supply chain security.<div type="image" title="Jensen Huang wih Nvidia hardware" height="2121" width="3000" msid="113466372" hostid="261" sizebytes="174302"></div>Not all is steady on the data center and energy front, either.A June report on global data center trends <a target="_blank" href="https://www.cbre.com/insights/reports/global-data-center-trends-2024">published by commercial real estate group CBRE</a> found that "worldwide power shortage is significantly inhibiting the global data center market's growth." Lack of growth has been a key problem in the US, where the AI boom has led to data center vacancy rates dropping everywhere from Chicago to Northern Virginia.That means data centers are in short supply, or, as the CBRE noted, "North American data center availability keeps tightening due to robust demand," leading parts of the country's tech industry to consider drastic measures. As the <a target="_blank" href="https://www.ft.com/content/d2bbcdc9-7282-43ea-84f7-250aab6a8a43">Financial Times reported last month</a>, some Big Tech firms and their suppliers have even considered turning decommissioned power stations into data centers.This supply shortage hasn't gone unnoticed in Washington. Last week, the <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/09/12/readout-of-white-house-roundtable-on-u-s-leadership-in-ai-infrastructure/">White House held a roundtable with top AI leaders</a> from around the country to "discuss steps to ensure the United States continues to lead the world in AI" by focusing on the data center and energy issue.With the likes of <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-routine-management-leadership-style-ceo-founder-2024-4">Nvidia's Jensen Huang</a> and <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-openai-raising-money-strawberry-after-rough-start-year-2024-9">OpenAI's Sam Altman</a> at the table, alongside top government officials such as Commerce Secretary Gina Raimondo, the discussion on American leadership in AI was tied to "national security, economic, and environmental goals."The headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.This may all be better late than never for the US. While the <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">verdict is still out</a> on the potential for the current AI boom to generate returns in the long run, it's clear that AI will be a critical geopolitical issue for the US in the years ahead.More infrastructure on home soil will help the US have greater control over its own destiny.

America is ready to go big on AI infrastructure 

<ul class="summary-list"><li>Organizations are shifting to hybrid cloud and on-prem IT infrastructure for more control over data.</li><li>This trend is driven by data privacy, security concerns, and AI's growing influence.</li></ul>There's a change in the winds of IT infrastructure. After a decadeslong rush to the cloud, many organizations are exploring ways to exercise more control over their data and IT infrastructure.Rather than depending solely on third-party cloud services, they're looking to operate their IT data networks on-site. This strategy, often referred to as on-premises or on-prem, is gaining renewed interest thanks to factors such as data privacy and security concerns, regulations designed to hold organizations accountable for the data they collect, and the rise of artificial intelligence.The interest in on-prem doesn't represent a wholesale rejection of the cloud; many organizations are looking for more control from the cloud services they choose and seek to blend them with on-prem hardware."We're seeing more demand for on-prem," Hang Tan, the hybrid cloud chief operating officer of Hewlett Packard Enterprise, told Business Insider. "I don't think customers are thinking about it like it's a zero-sum game where either something goes to the public cloud or entirely on-prem. There's a recognition that customers need to have a more hybrid environment."<div type="image" title="Hang Tan wearing a suit jacket over a dress shirt in a portrait" height="2674" width="2526" msid="112500772" hostid="261" sizebytes="546952"></div><h2 id="729c5a6d-1380-4364-adfa-d63ff00eb555">A push for on-prem</h2>This trend is a response to concerns about the reliability, security, and cost-effectiveness of cloud services. But it's not a binary choice between hosting IT networks on the cloud and hosting them on-prem. Often the most important decision isn't about the physical location of an organization's infrastructure but about the level of security and control the organization is given over it."It's more about the governance of infrastructure, including data, networking, and servers," said Peter Wang, the cofounder and chief innovation officer of the software developer Anaconda. "Who manages it? Who gets to say, 'No, absolutely, you can't do that.'" His company, founded in 2012 to help organizations use <a target="_blank" class="" href="https://www.businessinsider.com/snowflake-announces-partnership-with-anaconda-python-data-science-2021-9">Python for business analytics</a>, found itself at the leading edge of this discussion as Python became a popular <a target="_blank" href="https://www.techzine.eu/blogs/devops/117952/popularity-of-python-continues-to-rise-against-backdrop-of-ai-race/">programming language for AI workloads</a>.<div type="image" title="Peter Wang wears a button-up dress shirt and smiles in a portrait shot" height="5111" width="5111" msid="112500766" hostid="261" sizebytes="379940"></div>Anaconda works with organizations that pursue a spectrum of solutions. Those seeking the most extreme security may operate "a box in a building somewhere, oftentimes guarded by people with machine guns, where you go in with a flash drive," Wang said. But that's applicable to only the most security-conscious industries and some public-sector customers.Rather than placing infrastructure under lock and key behind a barbed-wire fence, Wang said, many organizations prefer to see cloud services include more detailed data-governance controls and low-level access to system resources. This can give organizations a level of control over cloud infrastructure that's more like what they'd have if the hardware were on-prem.Dennis Duckworth, the head of product and end-user experience at Kindo, an AI-driven workforce-software developer, offered a similar perspective. Kindo provides a secure management platform for AI systems that lets organizations control which users have access to internal AI resources.Duckworth said that some Kindo customers used an air-gapped on-prem strategy but that most were using, or looking to use, a secure and controllable solution that could be deployed within a cloud service such as Amazon Web Services. "They're not hosting it themselves, but we can deploy within that infrastructure," he said.<div type="image" title="Dennis Duckworth smiles while wearing a dress shirt and jeans" height="1000" width="750" msid="112500768" hostid="261" sizebytes="50674"></div>Perspectives on the trend differ depending on an organization's size and industry. Chris Stegh, the chief technology officer at the IT consulting company eGroup Enabling Technologies, said some sectors, like education and healthcare, pursued on-prem solutions for cost reasons."The commonalities of those organizations are they've got brick and mortar," Stegh said. "They've got sunk costs in their data center because they own some real estate."<h2 id="1e22b520-3eb5-417e-9814-5cca0937b265">AI is igniting changes in IT strategy</h2>Tan said AI was "pouring rocket fuel" into the on-prem trend by driving a desire for greater control and better governance of data and IT infrastructure. While many organizations hope AI will improve efficiency, they've discovered it can require a rethink of how their infrastructure operates.The particulars of IT infrastructure are often guided by the relationship between the applications people want to use and the data those applications require to function, Tan told BI. "With AI, because the data is dominating the equation, you have to move the application to the data, not the other way around," he explained.Tan said that an HPE customer that runs a large retail business originally put infrastructure on-prem to allow operations to continue if internet connectivity was interrupted. Over time, the retailer expanded its capabilities with theft detection and inventory control powered by AI video analytics handled on hardware in stores.These edge servers were "becoming AI-enabled cloudlets," or small-scale data centers that use <a target="_blank" href="https://www.businessinsider.com/guides/tech/what-is-a-graphics-card">graphics processing units</a> to operate "a whole private cloud stack," Tan added.In other cases, a company may need to take multiple approaches. Tan used self-driving vehicles as an example: Autonomous vehicles make decisions on local hardware, but the data is also sent to a data center, where it may be used to train new AI models. Because of that, many organizations interested in AI need a hybrid cloud infrastructure that includes cloud and on-prem elements — and that can connect them when needed.<h2 id="d0eb7c75-c19f-416a-8f59-5dec5d0980a6">The role of regulation</h2>Regulatory concerns are further strengthening interest in on-prem and hybrid cloud strategies. The landscape of data protection and AI regulation is evolving rapidly as different nations and states or jurisdictions within nations implement varying rules and requirements. Duckworth said this would lead to a complex regulatory future."We're going to see a patchwork of different regulations across the globe," he said. "It might be that in Germany you can't use ChatGPT, but you can use Mistral," he said. He also referenced recent <a target="_blank" class="" href="https://www.tomshardware.com/software/switzerland-mandates-government-agencies-use-open-source-software">legislation in Switzerland</a> mandating that government agencies use open-source software.Even cities may implement specific regulations. In 2021, Portland, Oregon, <a target="_blank" href="https://www.opb.org/article/2020/09/09/portland-passes-nations-toughest-restriction-on-facial-recognition-technology/">passed restrictions on facial recognition</a> that applied to both public and private services. Other cities, such as San Francisco, have experimented with bans that apply to specific public services, such as police departments.Duckworth argued that organizations were struggling to keep up with existing regulations, never mind those that might be implemented in the future. As more regulations arrive and are enforced, organizations could find themselves scrambling to adapt. "It will, in my personal opinion, be a madhouse for three to five years," he added.<h2 id="2775415b-3109-40e7-8e21-e8ce8fef1ab8">Moving ahead with caution</h2>AI might be the catalyst for a broader reexamination of how organizations manage their IT infrastructure. Cloud services aren't going away but may be approached with more skepticism and a greater focus on the long-term implications of adopting a particular service. The winners will be those that can bridge cloud and on-prem to provide the level of control organizations are demanding."My view is that customers that made the cloud journey learned some lessons. They know, 'Oh, if I move my data to the cloud, I'm kind of stuck,'" Tan told BI. He said he expects that organizations burned by that experience will be more skeptical of going all in on the cloud moving forward, adding momentum to interest in on-prem and hybrid cloud alternatives.

AI and security concerns fuel a shift to on-premises IT infrastructure as companies seek more control of data

In recent years, <keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>'s <keyword id="20479923" type="General" weightage="100" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="153" meta.entityid="Reliance Group">Reliance Group</keyword> has seen marquee firms being auctioned in insolvency proceedings and piling debt-fold businesses. But the group has, in the week gone by, made announcements that investors believe may mark its transformation. In three days -- from September 18 to September 20 -- the group announced it has turned into nearly zero debt and is implementing long-term fundraising plans that are said to solidify its financial position. <keyword id="20144587" type="General" weightage="20" keywordseo="Reliance-Infrastructure" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Infrastructure" meta.hostid="153" meta.entityid="Reliance Infrastructure">Reliance Infrastructure</keyword>'s board approved <keyword id="20431799" type="General" weightage="20" keywordseo="fund-raising" source="keywords">fund raising</keyword> of up to Rs 6,000 crore via preferential issue and QIP, while <keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="153" meta.entityid="Reliance Power">Reliance Power</keyword> board is meeting on September 23 to consider and approve the fundraise via multiple routes. The speed at which Anil Ambani moved to clear the debt of his companies, and simultaneously announce and execute the fund raising plans for future expansion of his companies, has surprised the investors. Shares of both firms surged on stock markets. The announcement to invest Rs 1,100 crore by the promoters group in Anil Ambani's flagship company, Reliance Infrastructure, has further boosted the confidence of investors in the group's revival plans and its long-term growth story, investors said. Anil Ambani's twin strategy of <keyword id="21440133" type="General" weightage="20" keywordseo="debt-reduction" source="keywords">debt reduction</keyword>, coupled with fresh capital raising, has set the stage for a long-term transformation of the Reliance Group, they feel. Reliance Infrastructure's <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword> by the end of this week surged nearly 50%, rising from Rs 8,500 crore to Rs 12,500 crore. Similarly, Reliance Power's market capitalisation increased over 25%, moving from Rs 11,500 crore to Rs 14,600 crore. Reliance Infra announced a significant reduction in standalone external debt, lowering it from Rs 3,831 crore to just Rs 475 crore. This was achieved by clearing outstanding dues to prominent lenders such as Life Insurance Corporation of India (LIC), Edelweiss ARC, ICICI Bank, and Union Bank, according to company filings. The move signals a robust financial recovery and enhances Reliance Infra's financial flexibility. Also, Reliance Infra board approved a preferential issue to raise Rs 3,014 crore, increasing the stake of Risee Infinity Pvt Ltd, a promoter group entity, along with other investors such as Florintree Innovation LLP and Fortune Financial &amp; Equities Services Pvt Ltd. The board also approved seeking shareholder authorization to raise an additional Rs 3,000 crore via a qualified institutional placement. This will provide further capital to strengthen the balance sheet and invest in new growth opportunities. With these fund infusions, Reliance Infra's net worth is set to rise from over Rs 9,000 crore to more than Rs 12,000 crore, according to the filings. The company is now well-positioned to invest in high-growth sectors, investors said.

Anil Ambani's Reliance Group starts transformation journey, achieves near zero-debt

<ul class="summary-list"><li>OpenAI CEO Sam Altman, in a Monday blog post, called for massive investments in AI infrastructure.</li><li>Insufficient infrastructure, Altman warned, will lead to wars being fought over the technology.</li></ul>In a Monday <a target="_blank" href="https://ia.samaltman.com/">blog post</a>, OpenAI CEO Sam Altman argued that massive investment in AI infrastructure is key to market dominance — and avoiding global conflict."If we want to put AI into the hands of as many people as possible, we need to drive down the cost of compute and make it abundant (which requires lots of energy and chips)," Altman wrote. "If we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people."While promoting the development of <a target="_blank" href="https://www.businessinsider.com/america-ai-infrastructure-data-center-microsoft-blackrock-2024-9">AI infrastructure</a> is the new focus of industry leaders like Altman, researchers on the technology's social, environmental, and economic impacts told Business Insider that the development of the data centers and hardware systems needed to achieve artificial general intelligence or superintelligence will cost far more than money.Representatives for OpenAI did not respond to a request for comment from Business Insider.<h2 id="71040451-7ee2-4474-ac54-2c383f024bc4">A sharp industry focus on AI infrastructure</h2>The new hot topic in artificial intelligence is infrastructure — investing in it, planning a massive expansion of computing power, and creating the data centers needed to develop the technology at scale.Last week, Microsoft and BlackRock <a target="_blank" class="" href="https://news.microsoft.com/2024/09/17/blackrock-global-infrastructure-partners-microsoft-and-mgx-launch-new-ai-partnership-to-invest-in-data-centers-and-supporting-power-infrastructure/">announced</a> the launch of a $30 billion fund to "enhance American competitiveness in AI while meeting the growing need for energy infrastructure to power economic growth."Earlier this month, the White House hosted a <a target="_blank" class="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/09/12/readout-of-white-house-roundtable-on-u-s-leadership-in-ai-infrastructure/">roundtable</a> with AI infrastructure leaders from around the country — including Altman and executives from Microsoft, Meta, Amazon, and Anthropic, among others — to "discuss steps to ensure the United States continues to lead the world in AI" and ensure the tech's development is aligned with "national security, economic, and environmental goals."While some experts are cautiously optimistic about AI, others pointed to pitfalls in the rapid build-up of infrastructure.<h2 id="0aa9a51a-d85a-46f5-bd85-fb71b3470c95">AI's unclear economic benefits</h2>Alex de Vries, an economist and the founder of <a target="_blank" class="" href="https://digiconomist.net/">Digiconomist</a>, a platform dedicated to exposing the unintended consequences of digital trends, told Business Insider the current conversation on AI infrastructure is focused on the development of large-scale data centers, with industry insiders trying to convince national governments to greenlight expansion — despite unclear benefits."It costs a whole lot of resources, while data centers don't generate that many benefits for the local economy — not too many jobs, very little other business activity because no one has to be near a data center," de Vries said. "So for now, the trade-off is really bad."The <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">return on investment</a> in artificial intelligence is increasingly murky. With companies like OpenAI and others preparing to spend over $1 trillion on artificial intelligence in the coming years, a June Goldman Sachs <a target="_blank" rel=" nofollow" href="https://www.goldmansachs.com/intelligence/pages/gen-ai-too-much-spend-too-little-benefit.html">report</a> asked the question: "Are we spending too much for too little reward?"Proponents of the technology argue it could eventually help save lives by <a target="_blank" href="https://www.businessinsider.com/ai-chatbots-tech-doctors-medicine-healthcare-system-empathy-quality-email-2023-6">revolutionizing the healthcare industry</a> or, as the United Nations climate technology <a target="_blank" class="" href="https://unfccc.int/ttclear/artificial_intelligence">website</a> suggests, "scaling up transformative climate solutions for mitigation and adaptation action in developing countries." However, chatbots and image generators have been the most publicly celebrated advancements in AI from the major Big Tech players — and <a target="_blank" class="" href="https://www.businessinsider.com/hallucinate-cambridge-dictionary-word-of-the-year-artificial-intelligence-2023-11">errors created by AI-generated content</a> have been <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-generative-ai-cant-be-trusted-gary-marcus-openai-2024-8">well documented</a>.In recent earnings calls, executives from <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-365-potential-price-changes-ai-investment-roi-2024-6">Microsoft</a> and <a target="_blank" class="" href="https://www.businessinsider.com/meta-amazon-alphabet-spend-big-ai-investors-concerned-roi-2024-8">Alphabet</a> have repeatedly fended off investors' questions about when to expect a return on their AI expenditures.Shaolei Ren, an associate professor of electrical and computer engineering at the University of California, Riverside, told Business Insider that, despite Altman's prediction in his blog post that we could be "a few thousand days" from an AI superintelligence, he's not optimistic that we're as close as Altman says we are — and he argued OpenAI's reliance on large language models is not the right path to get there.Rather than a single model that can do it all, Ren said he believes the industry needs to focus on smaller, more specialized models that require fewer resources and can be built to handle more precise tasks."I think we need to shift the way we build AI, not just rely on bigger and bigger models," Ren said. "This is not really sustainable or scalable."<h2 id="53158441-3f88-40ef-a72f-35691ba29f3a">An environmental disaster in the making</h2>Both de Vries and Ren said that beyond the financial costs, ensuring AI infrastructure is developed at the scale industry players like Altman seek comes with <a target="_blank" class="" href="https://www.businessinsider.com/chatgpt-generative-ai-environment-climate-change-global-emissions-2023-9">massive environmental costs</a>."If you're talking about large-scale data centers, they are going to be consuming a huge amount of power and a huge amount of water," de Vries said.He noted that data centers consume tons of water for their cooling systems — some of which evaporates, so it cannot be reused. Electricity consumption also skyrockets, driving up demand and increasing reliance on fossil fuels despite the industry's use of <a target="_blank" class="" href="https://www.businessinsider.com/inside-the-6-billion-market-for-renewable-energy-certificates-2020-3">renewable energy certificates (RECs)</a>.Wind and solar companies generate RECs for each unit of energy they create and then sell them. Buyers of RECs can then say they source renewable energy, even if they're using power from nonrenewable sources."The environmental consequences of a big surge in power demand are typically very, very bad — way, way worse than is being acknowledged by the Big Tech companies," de Vries said.<h2 id="733c12a0-a965-422f-be12-05faf7693bb2">A growing risk to the social order</h2>That's not to mention what Cary Coglianese, a professor of law and political science and the director of an interdisciplinary program focused on research on effective regulation at the University of Pennsylvania, describes as AI's impact on "social ordering."While Coglianese describes himself as "cautiously optimistic" about the benefits of artificial intelligence, he said even if we achieve advanced uses for the tech, the feat will come with "trade-offs.""Any human endeavor that involves an optimization challenge can be made more efficient through artificial intelligence," Coglianese said. "Some of those uses can be good, like finding malignancies on MRI scans — a great use of AI technology — but we'll also be making much more efficient weapon systems, or automating weapon systems, or creating tools that can oppress people that can be made more, quote-unquote, 'efficient.'"In his blog post, Altman writes that the dawn of what he calls the Intelligence Age comes "with very complex and extremely high-stakes challenges.""It will not be an entirely positive story," Altman wrote. "But the upside is so tremendous that we owe it to ourselves, and the future, to figure out how to navigate the risks in front of us."Altman didn't mention the current negative social impacts AI is already causing — such as <a target="_blank" class="" href="https://www.businessinsider.com/ai-deepfakes-threaten-havoc-with-the-worlds-year-of-elections-2024-1">deepfakes infiltrating our political system,</a> a proliferation of <a target="_blank" class="" href="https://www.businessinsider.com/cgi-ai-fake-video-audio-news-hoaxes-information-warfare-revenge-porn-2017-8">AI-generated revenge porn</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/dell-layoffs-ai-strategy-workers-more-effective-jobs-fulfilling-2024-8">workers being replaced</a> as companies increasingly invest in the tech."There's a real disconnect between where the world is today socially and where it is technologically — and that's something that the technologists and the techno-optimists can often overlook," Coglianese told Business Insider. "I'm cautiously optimistic too, but we have to recognize that until we have a social ordering that's different than it is, a new technology won't be some magic elixir that will transform the globe into a utopia."

Sam Altman believes wars will be fought over AI unless there's massive spending on infrastructure. But that comes with a cost.

<ul class="summary-list"><li>EV charging has improved, but there is still a long way to go to convince the average driver.</li><li>Demand for electric vehicles in the US fell 14% in 2023, according to EY's study.</li></ul>We're getting closer to a cure for range anxiety, so why don't more people <a target="_blank" class="" href="https://www.businessinsider.com/automakers-back-to-the-drawing-board-ev-plans-2024-2">want an EV</a>?Only 34% of US shoppers planning to buy a vehicle in the next two years say they're likely to buy an EV, down significantly from the prior year, despite diminishing concerns about things like range anxiety and charging.The diverging trends were illustrated in EY's annual <a target="_blank" class="" href="https://www.ey.com/en_us/newsroom/2024/09/us-consumers-less-likely-to-purchase-an-ev-than-last-year">Mobility Consumer Index</a>, which surveyed 20,000 respondents in 28 countries who said they were considering buying a new car in the next 24 months. Among US respondents, the firm found that only 24% of potential buyers cited range limitations as a top concern (down from 30% in the prior year), and only 23% are concerned about finding a place to plug in (down from 34%).This dip in demand is reflected in a <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">stagnation in EV sales growth</a> over the past year as companies adjust to a new crop of more practical green-car shoppers. Simply put, these shoppers are also much more difficult to please than the enthusiastic early adopters of years past. EY found that only 24% of US car buyers named range limitations a top concern, down from 30% a year ago. Meanwhile, only 23% of US buyers said they were concerned about <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-range-ev-charging-station-infrastructure-issues-2024-5">finding a place to plug in</a>, down from 34% of respondents in 2023.That should be a huge deal, but <a target="_blank" class="" href="https://www.businessinsider.com/ev-electric-car-sales-plateau-early-adopters-competition-2023-8">today's electric-car shoppers</a> are less willing to endure the steep learning curve associated with switching to a fully electric car — even if they're getting cheaper and the tech is getting better."To keep momentum and make EV ownership appealing, it's imperative to educate and create a seamless customer experience from the dealership to the charge point," EY's Americas Power &amp; Utilities eMobility Leader Marc Coltelli said in the study.Battery-powered cars accounted for a record 7.6% of all car sales in 2023, according to Kelley Blue Book, up from 5.9% in 2022. But that sales growth has hit a plateau after years of exponential growth. Industry executives and analysts this year are estimating a more modest increase by the end of 2024, with EVs expected to account for between 8% and 10% of sales this year.<h2 id="5e995481-cafc-4a05-bbdd-943490394d6e">EV charging has improved, but there is still a long way to go</h2>Both the automotive industry and the US government have rallied around this issue, and at the start of this year the number of public charging stations in the US had doubled from 2020, according to Pew Research and the Department of Energy.In addition to this improvement in infrastructure, several EVs have been engineered to drive about as far as a gas car on a single charge, and batteries today are built to charge faster.But it's still not enough. The network of 61,000 public charging stations in the US pales in comparison to the roughly 120,000 gas stations nationwide. And just because a charger exists doesn't mean it's in the right place or compatible with the EV you're driving.<a target="_blank" class="" href="https://www.jdpower.com/business/press-releases/2024-us-electric-vehicle-experience-evx-public-charging-study">JD Power</a>'s annual study of EV public charging experiences released in August found that 19% of respondents visited a charger but were not actually able to charge their vehicle. A majority of these failed charging visits were due to lack of availability or the charger being broken, JD Power found.Affordability is also a key issue for today's electric car shoppers, an issue the industry has tried to address with lower sticker prices. The average price paid for an EV has fallen steadily for the past year, and some of the best <a target="_blank" class="" href="https://www.businessinsider.com/ev-pile-up-dealer-lots-deals-discounts-leasing-2024-8">leasing deals</a> are reserved for electric cars right now.But EV shoppers have found a new cost to angst over.EY also found improvements in <a target="_blank" class="" href="https://www.businessinsider.com/meet-dozens-of-startups-leading-the-electric-car-charging-market-2022-2">charging and range attitudes</a> were dampened by an increase in worry about battery life and maintenance fees, with 27% of US respondents reporting concerns about expensive batteries.<h2 id="4c339c1e-7bfe-4082-9692-fca09b6cc911">EVs are still a tough sell for the average buyer</h2>US consumers are still quite skeptical about making the jump to a fully electric car, with 21% of respondents in EY's study saying they prefer a gradual transition from gas-powered cars to battery-powered cars.That's stoking demand for <a target="_blank" class="" href="https://www.businessinsider.com/car-buyer-interest-hybrids-as-electric-vehicle-adoption-slowing-2023-10">hybrid vehicles</a>, which come in plug-in varieties or with gas-electric engines that don't need to recharge at all, due to the higher mileage per gallon and less of a lifestyle switch."With many still hesitant to go all in with EVs, hybrids offer an 'easier-to-swallow' solution," EY Americas Aerospace, Defense and Mobility Leader Raman Ram said in the report. "For those who are looking to transition due to the environment, hybrids allow owners to lessen their reliance on fuel and creates options for batteries and parts. For many, it's a win-win."It's not quite that simple, though. Hybrids are hard to find right now as automakers rush back to the once-withering segment. The current mismatch between supply and demand for these vehicles makes shopping for them stressful and <a target="_blank" class="" href="https://www.businessinsider.com/plug-in-hybrid-prices-soaring-demand-electric-cars-2024-9">prices hard to swallow</a>.

Drivers are feeling better about EV range and charging infrastructure, but still aren't ready to go electric

New Delhi: <keyword id="19902194" type="General" weightage="100" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword> is reviewing a <keyword id="20738747" type="General" weightage="20" keywordseo="Sebi-order" source="keywords">Sebi order</keyword> imposing a fine and banning him from capital markets for five years in an alleged fund diversion case and will take appropriate next steps as legally advised, his spokesperson said in a statement on Sunday. <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, the spokesperson in a statement said, had resigned from the board of <keyword id="21260537" type="General" weightage="20" keywordseo="Reliance-Infrastructure-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Infrastructure Ltd" meta.hostid="153" meta.entityid="Reliance Infrastructure Ltd">Reliance Infrastructure Ltd</keyword> and Reliance Power Ltd, pursuant to Sebi's interim order dated February 11, 2022 in the matter pertaining to Reliance Home Finance Ltd. He "is in compliance with the said interim order (of February 11, 2022) for the last two and half years," the statement said. On the August 22 order that banned him and 24 others from the securities market for five years on charges of diversion of funds, the spokesperson said, "Mr Ambani is reviewing the final order dated August 22, 2024 passed by Sebi in the said matter, and will take appropriate next steps as legally advised." The Securities and Exchange Board of India (Sebi) had also imposed a fine of Rs 25 crore on Ambani, saying he orchestrated a scheme to "siphon off" funds from Reliance Home Finance, a listed subsidiary of conglomerate <keyword id="20479923" type="General" weightage="20" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="153" meta.entityid="Reliance Group">Reliance Group</keyword> of which he is chairman. The ban means that he and the other 24 will not be able to access the securities market and are prohibited from buying, selling or otherwise dealing in securities, directly or indirectly. In a separate statement, Mumbai-listed Reliance Infrastructure Ltd said it "was not a noticee or party to the proceedings before Sebi in which the order is passed. No directions are given in the order against Reliance Infrastructure Ltd". "Mr Ambani had resigned from the board of directors of Reliance Infrastructure Ltd pursuant to the interim order dated February 11, 2022 passed by Sebi in the same proceedings. Therefore, the order dated August 22, 2024 passed by Sebi has no bearing whatsoever on the business and affairs of Reliance Infrastructure Ltd," it said. Reliance Power, the other listed company of Anil Ambani's group, also issued a similar statement saying Ambani had resigned in 2022 and that the latest Sebi order has no bearing on it. Sebi in the August 22 order had stated that a "fraudulent" scheme "siphoned off" funds from Reliance Home Finance, which provides loans for housing and construction, by structuring them as loans to credit-unworthy borrowers. Most of these borrowers were linked to "promoters", the regulator had said. Anil Ambani and his elder brother Mukesh had in July 2006 split their father Dhirubhai Ambani-created Reliance Industries Ltd. Anil Ambani's Reliance Group spanned financial services, infrastructure and telecommunications while the elder brother got the traditional oil refining and petrochemicals business. Over the last few years, Anil Ambani has seen three of the largest firms within the group, including Reliance Communications, Reliance Capital, and Reliance Infrastructure, undergoing bankruptcy over unpaid debt. Sebi has charged that more than Rs 9,000 crore worth of loans from Reliance Home Finance were made to "nondescript borrowers who had no demonstrable financial ability to repay any of it". The other 24 banned include executives of Anil Ambani's Reliance Group and other unlisted companies connected to him.

Anil Ambani reviewing SEBI order, to take appropriate steps: Statement

<keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> on Wednesday said it has tied up with <keyword id="20243465" type="General" weightage="20" keywordseo="Delta-Electronics-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Delta Electronics India" meta.hostid="153" meta.entityid="Delta Electronics India">Delta Electronics India</keyword> and <keyword id="22863979" type="General" weightage="20" keywordseo="Thunderplus-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Thunderplus Solutions" meta.hostid="153" meta.entityid="Thunderplus Solutions">Thunderplus Solutions</keyword> to set up <keyword id="20111395" type="General" weightage="20" keywordseo="charging-infrastructure" source="keywords">charging infrastructure</keyword> for its range of <keyword id="21658969" type="General" weightage="20" keywordseo="electric-commercial-vehicles" source="keywords">electric commercial vehicles</keyword> (CVs). As part of the MoU inked between the parties, 250 new fast-charging stations for electric commercial vehicles would be set up across the country. Strategically located in and around over 50 cities, including Delhi, Mumbai, Chennai, Bengaluru, Pune, and Kochi, among others, these new charging stations will significantly increase the existing network of 540 commercial vehicle charging points, Tata Motors said in a statement. Basis its understanding of the commercial EV movement, the commercial vehicle major will recommend optimal locations and nearest dealerships for setting up the fast-charging stations, the company said. While Delta Electronics will supply the necessary hardware, Thunderplus Solutions will install and operate them, it added. E-commerce companies, parcel and courier service providers, among other industries, are increasing the adoption of commercial EVs for last-mile deliveries. "Expanding the available charging infrastructure on high-use routes will encourage more customers to opt for electric commercial vehicles and improve vehicle uptime, resulting in higher revenues and better profitability, while contributing towards a cleaner, greener environment," Tata Motors Commercial Vehicles Vice President and Business Head -- SCV &amp; PU -- Vinay Pathak said. Currently, Tata Motors sells Ace EVs to cater to various last-mile delivery requirements. The model is supported by over 150 electric vehicle service centres across the country. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

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