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<ul><li><keyword id="19912297" type="General" weightage="100" keywordseo="Nvidia" source="keywords" meta.keywordsubtype="org" meta.entityname="Nvidia" meta.hostid="261" meta.entityid="Nvidia">Nvidia</keyword> wants to partner with <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to develop new <keyword id="20830356" type="General" weightage="20" keywordseo="AI-chip" source="keywords">AI chip</keyword></li><li>The discussions are in prelim stage</li><li>Nvidia hasn't announced anything officially</li></ul> When it comes to AI, Nvidia is one of the frontrunners in the race. In the last few months, we have heard ample reports about how much Nvidia's AI chips are in demand. Now, latest reports say that the tech giant is looking forward to partner with India and use its huge talent pool to develop a new AI chip. According to a report in ET, Nvidia is looking to forge a partnership with India to create a new semiconductor chip tailored to the nation’s technological needs. As per the report, this initiative was discussed earlier this year between <keyword id="19979316" type="General" weightage="20" keywordseo="Jensen-Huang" source="keywords">Jensen Huang</keyword>, Nvidia’s CEO, and Indian Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword>. The collaboration aims to blend India’s robust semiconductor design skills with Nvidia’s cutting-edge technology to meet the increasing demands of the Indian tech market. <div type="Article" hostid="261" msid="113902265" title="Nvidia’s ChatRTX could be your alternative to ChatGPT for reading long documents, and it doesn’t need an internet connection" mstype="2" mssubtype="0"></div> As Nvidia’s graphics processing unit (GPU) chips continue to play a crucial role in the AI revolution, the company’s valuation has skyrocketed, now standing as the second most valuable company globally. Ashwini Vaishnaw, India’s union minister for electronics and IT, confirmed that discussions are underway, although they remain in the early stages. He told ET, “Yes, we are discussing with Nvidia the development of an AI chip; discussions are at a preliminary stage.” Meanwhile, Nvidia has not said anything yet. With around 19% of the world’s chip designers based in India—many working for renowned global firms—Nvidia is reportedly eager to leverage this rich talent pool. The partnership would focus on developing chips that cater to specific requirements within India, including AI-driven solutions for government initiatives, enhancements in infrastructure, and support for startups. Meanwhile, <keyword id="20553835" type="General" weightage="20" keywordseo="huang" source="keywords">Huang</keyword> is scheduled to visit India soon, marking his annual trip, during which he hopes to deepen ties with the nation. <div type="Article" hostid="261" msid="114040583" title="I talked to an AI-powered NPC thanks to Nvidia! True to her character, she surprised me with her princess attitude" mstype="2" mssubtype="0"></div> The report added that the envisioned chip would be specifically tailored for Indian applications, potentially enhancing systems like the Kavach security initiative for Indian Railways. This collaboration aims to provide the government, startups, and various businesses with a chip that supports diverse applications in line with India’s AI mission. Currently, the government is working on details such as cost, benefits, and use cases related to this co-development effort. If this chip collaboration materialises, Nvidia plans to design the core components in partnership with firms like Arm or AMD, while Indian entities, including the <keyword id="20051560" type="General" weightage="20" keywordseo="centre-for-development-of-advanced-computing" source="keywords">Centre for Development of Advanced Computing</keyword> (C-DAC) and private firms, would handle the customisation of the top 10-20% of the chip design, the ET report added.

Nvidia eyes partnership with India to develop a new AI chip, all you need to know

The Ambani-Merchant nuptials, culminated in a lavish ceremony in Mumbai after a series of celebrations spanning multiple countries over the past four months. Notably absent from the Mumbai reception, however, was Congress leader and Leader of Opposition in the Lok Sabha, <keyword id="19895780" type="General" weightage="20" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>. Reports suggest that billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> had personally invited Rahul Gandi and Sonia Gandhi for his son Anant Ambani’s wedding. These speculations arose after the businessman was seen arriving at 10, Janpath. Sources close to Gandhi, however, had firmly denied his attendance, underlining a strategic move to reassert his image as a leader connected to the common citizen. Amid the celebrations, Rahul Gandhi was seen adressing a crowd of people. Talking about the grandeur of the event being held at the Jio World Convention Centre, he sardonically remarked how all of this was happening while the public was suffering. <div type="twitter" handle="pbhushan1" handlename="pbhushan1" favoritecount="0" retweetcount="0" id="1812340770860413030"></div>Further, a video of the 54-year-old Congress leader waiting for his order at a Delhi pizzeria has gone viral. And many speculate that the timing of this co-incided with some of his allies attending the Ambani event. <div type="twitter" handle="mr_mayank" handlename="mr_mayank" favoritecount="0" retweetcount="0" id="1812210852042572052"></div>While Gandhi's decision to abstain is seen as a deliberate stance against what he critiques as “crony capitalism”, particularly under the current <keyword id="20360422" type="General" weightage="20" keywordseo="NDA-government" source="keywords">NDA government</keyword>, some of his allies and colleagues from his party such as Abhishek Manu Singhvi and Mamata Banerjee graced the occasion. Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> also attended the Ambani-Merchant reception to give his blessings to the happy couple. Andra Pradesh CM Chandrababu Naidu was also in attendance. Read: <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-attends-anant-ambani-and-radhika-merchants-star-studded-wedding-event/articleshow/111719695.cms" data-type="tilCustomLink">PM Narendra Modi attends Anant Ambani and Radhika Merchant's star-studded wedding event</a> Amit Malviya, the national head of the Bharatiya Janata Party's IT cell, took a swipe at Gandhi's absence, insinuating that the Congress leader might be abroad, a notion that has stirred controversy in political circles. Malviya's comments also alluded to the participation of opposition leaders in the wedding festivities, contrasting sharply with their criticisms of prominent industrialists like Ambani and Adani. The <keyword id="20727512" type="General" weightage="20" keywordseo="Ambani-wedding" source="keywords">Ambani wedding</keyword> saga, from its extravagant pre-wedding celebrations in Gujarat and Italy to the final celebrations in Mumbai, has been a magnet for media attention, showcasing the elite social circle of the Ambani family. While a majority of the festivities have come to an end, the event continues to attract equal parts admiration and scrutiny, particularly around the intricate web of political dynamics that surround them. Related: <a href="https://www.businessinsider.in/entertainment/news/meet-the-rich-and-famous-people-in-mumbai-for-the-ambani-wedding/slidelist/111694174.cms" data-type="tilCustomLink">Meet the rich and famous people in Mumbai for the Ambani wedding</a>

Rahul Gandhi takes dig at politicians attending Ambani wedding bash while commoners are “dying of hunger”

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said. Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a "global hub of <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">semiconductor manufacturing</keyword>". The meeting took place at the Lotte <keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword> Palace Hotel on Sunday during the second leg of Modi's three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. "Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India," Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India's BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India's policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India's growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. "Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India's growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors," the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec's plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the <keyword id="20115166" type="General" weightage="20" keywordseo="Indian-diaspora" source="keywords">Indian diaspora</keyword> at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders' Summit hosted by President Joe Biden in Wilmington, Delaware. <div type="Article" hostid="261" msid="113516805" title="Why is Indian Prime Minister Narendra Modi visiting the US this weekend?" mstype="2" mssubtype="0"></div>

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

Houston: Petroleum minister <keyword id="19968713" type="General" weightage="20" keywordseo="Hardeep-Singh-Puri" source="keywords">Hardeep Singh Puri</keyword> lauded India's economic growth under Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword>, saying the country has advanced from the 10th largest economy in 2014 to the 5th largest by 2019, surpassing the UK. Speaking at a community reception, organized by Consul General of India in Houston, D C Manjunath, at India House here, Puri emphasized Houston's pivotal role in the global energy sector, particularly in green hydrogen and aerospace. Expressing his thoughts about deepening <keyword id="22356868" type="General" weightage="20" keywordseo="US-India-collaboration" source="keywords">US-India collaboration</keyword> in the clean energy sector, Puri praised India's refining capacity and initiatives in biofuel blending, aiming to boost refining capacity to 300 million metric tons per annum. He termed the US-India Strategic Clean Energy Partnership as a cornerstone of future collaboration between the two countries. He acknowledged the political successes of Prime Minister Modi's party in the recent elections and said the country under Modi's regime has advanced from the 10th largest economy in 2014 to the 5th largest by 2019, surpassing the UK. The minister also pointed towards the Indian government's ambitious urban development initiatives, saying that the country has committed USD 25 billion (Rs 1.57 lakh crore) to urban schemes from 2017 to 2024. He compared this investment to constructing a new Chicago each year, illustrating the rapid expansion of urban infrastructure, including new metro systems and airports. He also noted that India's civil aviation sector is set to grow significantly, with the number of airports increasing from 74 to 150. Puri lauded Houston as a global hub for energy innovation and said events like "Howdy Modi" in 2019 showcased the strength of Indian-American relations. The minister paid tribute to the contributions of the Indian diaspora in various fields, particularly in medicine and engineering, while emphasizing the importance of maintaining cultural traditions, even while living abroad. He expressed gratitude for the warmth and hospitality received from the Indian community in Houston, acknowledging their role in enhancing India's global image.

India advanced from 10th place in 2014 to become 5th largest economy in 2019: Petroleum minister Hardeep Singh Puri

<keyword id="21230742" type="General" weightage="20" keywordseo="Indian-stock-indices" source="keywords">Indian stock indices</keyword> witnessed a bloodbath on the day the Lok Sabha results are being announced, where incumbent <keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword> performed below par and seems it may fall short of <keyword id="21897057" type="General" weightage="20" keywordseo="exit-poll-predictions" source="keywords">exit poll predictions</keyword> and the majority mark on its own. The BJP-led National Democratic Alliance is leading in nearly 300 seats while the INDIA alliance is leading in 229 seats, as per data from the Election Commission of India. The idea of a coalition government lead by BJP at the centre has led to widespread <keyword id="21935422" type="General" weightage="20" keywordseo="market-anxiety" source="keywords">market anxiety</keyword> and a sharp decline in stock indices. The BJP, which has been the dominant force in Indian politics for the past decade, is seen as a pro-Industry party whose policies have generally favoured economic growth and market stability. The failure to secure a clear majority to BJP of its own raises concerns about the formation of a stable government and the continuation of economic reforms. At the closing bell, <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> closed at 72,079.05 points, down 4,389.73 points or 5.74 per cent, while <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> closed at 21,884.50 points, down 1,379.40 points or 5.93 per cent. All Nifty sectoral indices, barring Nifty FMCG, were deep in the red today. Nifty metal, Nifty bank, Nifty financial services, Nifty PSU bank, Nifty private bank, Nifty realty, Nifty oil and gas, slumped the most, NSE data showed. "The steep fall is due to the results so far falling short of the exit polls which the market had discounted yesterday. If BJP doesn't get a majority on its own there will be disappointment and this is getting reflected in the market. Also it is possible that Modi 3.O may not be as reform-oriented as the market expected and may turn more welfare- oriented," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. At one point during the afternoon, Indian equity indices plummeted over 8 per cent on Tuesday, as poll trends indicated a closer than anticipated fight for the incumbent <keyword id="20513173" type="General" weightage="20" keywordseo="Narendra-Modi-led-NDA-government" source="keywords">Narendra Modi-led NDA government</keyword>. Sensex logged it worst session in over four years, it witnessed back during Covid days. "Markets rallied 3-3.5 per cent on expectation of a Modi led NDA win on Monday. PSU (especially banks) led the rally. Today polls were not in line with exit poll outcome. Markets move more than 4-5 per cent down today," said Jaykrishna Gandhi, Head - Business Development, Institutional Equities, Emkay Global Financial Services. "We expect 7-10 per cent downside for broader markets from current levels. We recommend positioning to move from alpha stocks to defensives - add FMCG, IT, Pharma vs short on ABB, Siemens, Cummins, Coal India, NTPC, PFC, REC, PNB, Canara bank," Gandhi suggested. The <keyword id="19949639" type="General" weightage="20" keywordseo="Rupee" source="keywords">Rupee</keyword> closed weaker against the US dollar on Tuesday, depreciating by 38 paise to close at 83.53. It closed at 83.15 on Monday. The Rupee had been largely steady for the past year, largely due to RBI's intervention. "This uncertainty triggered a panic sell-off across various asset classes, impacting economic growth. The Dollar-Rupee exchange rate may continue to rise, potentially reaching 83.90, with 83.40 serving as the immediate support level," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. Manish Chowdhury, Head of Research, StoxBox, asserted that markets have reacted sharply to the initial trends of the NDA leading on around 290 seats, way less than as projected. "With the NDA still looking to form a government, though with the important support of coalition partners, markets look jittery about the prospects of strong decision making. Markets believe that the reformistic approach, which was a hallmark of the previous two terms, might take a backseat in the third term. However, our sense is that it is still early to jump to conclusions and should ideally wait for a clearer picture," said Chowdhury. Shrikant Chouhan, Head Equity Research, Kotak Securities, noted that the current market texture is extremely volatile and uncertain; hence, it is advisable that traders should remain cautious for the next few trading sessions. On Monday, Indian benchmark indices closed at record highs, driven by fresh buying from investors after exit polls indicated a comfortable majority for the NDA government. The Nifty 50 index gained 733.20 points, closing at 23,263.90, while the BSE Sensex surged 2507.47 points to close at 76,468.78. (ANI)

Bloodbath in Indian stocks as trends show below par show by BJP-led NDA; Sensex slumps over 4,000 points

The United States has invested significantly in expanding its strategic partnership with <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> and is pursuing a robust agenda to deepen the bilateral cooperation, US Deputy Secretary of State Kurt <keyword id="20428643" type="General" weightage="20" keywordseo="campbell" source="keywords">Campbell</keyword> has said. Addressing the ongoing India-US Defence Acceleration Ecosystem (INDUS-X) Summit in California on Monday, Campbell said successive administrations in Washington and New Delhi have invested time and political capital to bring the partnership to greater heights. "But in the last year, I like to say, our partnership has reached 'escape velocity'," he said. "The United States has invested significantly in expanding our strategic partnership with India, and we are pursuing a robust agenda to deepen cooperation for the rest of the year - not only diplomatically, but also through iCET ( initiative on Critical and Emerging Technology)," Campbell said. The third edition of the two-day INDUS-X summit began on Monday. It is organised by the <keyword id="20263494" type="General" weightage="20" keywordseo="us-india-strategic-and-partnership-forum" source="keywords">US India Strategic and Partnership Forum</keyword> (<keyword id="20252677" type="General" weightage="20" keywordseo="usispf" source="keywords">USISPF</keyword>) at Stanford University in California. "Our defence establishments, research institutions, private industry, and startups possess a deep bench of talent and mutual thirst for innovation, which is why INDUS-X was designed to create the necessary ecosystem and partnerships for new ideas, research, and development to flourish," the top American diplomat said. Asserting that the two countries are "more closely aligned than ever before" today, Campbell said the US and India have pursued an "ambitious agenda" of summits, joint challenges, and exchanges in over a year since the launch of the INDUS-X. INDUS-X, which stands for enhanced strategic and defence partnership between India and the US, was launched on June 21 last year by the <keyword id="20331010" type="General" weightage="20" keywordseo="us-department-of-defence" source="keywords">US Department of Defence</keyword> and the <keyword id="22082092" type="General" weightage="20" keywordseo="indian-ministry-of-defence" source="keywords">Indian Ministry of Defence</keyword> during Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>'s state visit to Washington, DC. "I expect these efforts will continue, given the deep bonds that tie our countries together and the strategic challenges we both face. INDUS-X is now, and will be, a cornerstone of our continuing efforts to advance the US-India Initiative on Critical and Emerging Technology - iCET," Campbell said. The iCET was launched by Prime Minister Modi and US President Joe Biden on the sidelines of the QUAD summit in Tokyo on May 24, 2022. Observing that technological leadership is increasingly at the heart of the strategic competition, Campbell said it is the great differentiator in the US foreign policy approach. "And India is in a very small group of countries with whom we work most intimately on tech. The iCET, which places technology at the very heart of the US-India partnership, has greatly accelerated our strategic cooperation," he said. Talking about the second iCET meeting that took place between National Security Adviser Ajit Doval and his US counterpart Jake Sullivan in June, Cambell said it "showed the immense progress we are making across a range of sectors including space, semiconductors, advanced telecommunications, artificial intelligence, quantum, biotechnology, and clean energy". "Deepening defence cooperation is also a key pillar of iCET," said the top American diplomat. "Our work together driving innovation and developing cutting-edge technologies will help us maintain a critical advantage for our armed forces. We've taken unprecedented steps to increase operational coordination, information sharing, and defence industrial cooperation, including co-production," he said. "In fact, we've authorised an unprecedented level of technology transfer as part of the GE engine co-production arrangement, and our two governments have just finalised a Security of Supply Arrangement to reinforce our supply chain resilience," he said. Last year, GE Aerospace and <keyword id="19998363" type="General" weightage="20" keywordseo="hindustan-aeronautics-limited" source="keywords">Hindustan Aeronautics Limited</keyword> (HAL) inked a pact to jointly produce fighter jet engines for the <keyword id="19992067" type="General" weightage="20" keywordseo="indian-air-force" source="keywords">Indian Air Force</keyword>'s Light Combat Aircraft (LCA)-Mk-II - Tejas. "Under INDUS-X, the US and Indian governments have also announced: awards of USD 1.2 million in seed funding to ten US and Indian companies under Joint IMPACT 1.0 Challenges; our intent to launch two additional joint challenges in other domains, including space; and the launch of a INDUSWERX Testing Consortium of industry, academia, and nonprofit organisations across the US and India to promote our companies' access to testing and experimentation facilities," Campbell said.

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Nvidia eyes partnership with India to develop a new AI chip, all you need to know

BI India Bureau

Rahul Gandhi takes dig at politicians attending Ambani wedding bash while commoners are “dying of hunger”

Ashmita Gupta

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

PTI

India advanced from 10th place in 2014 to become 5th largest economy in 2019: Petroleum minister Hardeep Singh Puri

PTI

Bloodbath in Indian stocks as trends show below par show by BJP-led NDA; Sensex slumps over 4,000 points

ANI

US invested significantly in expanding strategic partnership with India: Kurt Campbell

PTI

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