Elon Musk’s rocket and satellite company, SpaceX, is all set to go public on Wall Street on June 12, with 555.6 million shares worth $75 billion on offer. Besides this, the underwriters have an additional option to purchase 83.33 million shares, amounting to $11.2 billion. Despite this, Elon Musk will continue to own over 82% of the company’s voting control after the issue. This issue is marked by an unusual rule of the share price being capped at $135 per share. Under standard Wall Street convention, share prices are adjusted by the underwriters as per demand, with the shares being…
Author: Abizar Attari
Abizar Attari
Abizar has been writing before AI started to take over your lives! His expertise lies in analysing diverse perspectives and simplifying them for laymen. Beyond writing, storytelling and editing, he enjoys running, learning and enjoying the outdoors.
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In a development that strengthens SpaceX’s bid for an IPO, long time SpaceX backer Google has signed an agreement to use SpaceX’s data centers for computing access. The deal, where Google will pay SpaceX $920 million per month to start with, is aimed at using SpaceX’s vast computing resources, including its 110,000 GPUs and other computing infrastructure in its data center. The reasons behind the deal On the face of it, it might seem strange that Google, which already has its own computing infrastructure, is using SpaceX’s for computing access, but the fact remains that SpaceX has a ready-to-use data…
Mumbai: The global Artificial Intelligence (AI) boom has ignited a massive stock rally for those involved in the ecosystem, and one obscure Indian company is amongst them. Vedanta-based optical fibre manufacturer Sterlite Technologies has been a primary beneficiary of the AI boom in India, with its stock price skyrocketing over 500% in just six months. While Sterlite doesn’t build AI software or chips itself, the optical fibre, cables and networking solutions it manufactures are a vital cog in the AI infrastructure ecosystem. For years, this remained a small-cap stock that didn’t turn heads, but all of that changed in January,…
New Delhi: Australian data center operator AirTrunk has announced its intent to invest about ₹3 lakh crore in India as the country sees an insatiable appetite for AI led systems. Backed by global investment giant Blackstone, the company will set up 5GW of data center capacity in India by 2030. This development comes weeks after AirTrunk acquired India-focused data center operator Lumina CloudInfra, gaining highly valuable, strategic land parcels in India’s top technology hubs in Mumbai and Chennai. The fact that Lumina CloudInfra has also been backed by Blackstone has worked in its favour. PM Modi has also welcomed the…
New Delhi: The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) has unanimously agreed to keep India’s repo rate unchanged at 5.25% as it aims to keep loans affordable while ensuring inflation remains in check. With the war in the Middle East showing no signs of a truce, the RBI has had to downgrade India’s growth forecast to 6.6% as the disruption in oil supplies from the Middle East continues to affect India’s economy. Analysts were widely expecting the RBI to hold the Repo rates, as this much-anticipated meeting showed how the RBI aimed to address the economic challenges…
Legacy home appliance brand Bajaj Electricals Limited has announced its intent to venture into the cables business, as it looks to diversify beyond the highly competitive home appliance market. The company hasn’t revealed much at this stage, especially as it has been struggling to maintain a presence in the home appliance market. Bajaj Electricals has no choice but to use this business pivot as a lifeline for the brand, given it has already slipped into the red in the quarter ended March 31, 2026. A Crowded Market To understand why Bajaj Electricals is moving into heavy industrial cables, it helps…
Navi Mumbai: Popular online marketplace OLX India has said its Elite Buyer Program has attracted 80,000 signups by May 2026, with the program aimed at making searching for and buying big-ticket items- like used cars and heavy machinery- safer, quicker, and more reliable. The program was aimed at enhancing the buyer experience by helping serious, high-intent buyers to more relevant listings. The program is now expected to become a significant contributor to the company’s growth in the coming years, OLX’s parent CarTrade Tech Limited said in a press release. “Crossing 80,000 Elite Buyer sign-ups in May 2026 is an important…
Mumbai: Infrastructure major Hindustan Construction Company Limited (HCC) has been awarded a prestigious ₹127 crore contract in Bhutan by the Wangchhu Hydroelectric Power Limited (WHPL), the company said in a press release. This involves constructing diversion tunnels, cofferdams and hydromechanical gates, with a scheduled completion date of nine months. The contract was awarded following WHPL;s technical and financial evaluation process, reflecting HCC’s proven expertise in executing complex hydroelectric projects in challenging geographies. HCC has been fairly active in the Kingdom, with its presence spanning three decades, where it has developed massive power assets like the Chukha, Tala, and Punatsangchhu hydroelectric…
India’s stock market is seeing a churn that balances hope on one end (domestically) with opportunity on the other (by foreign investors). With a record 373 companies going public in 2025, most foreign investors used the opportunity to cash in on the hope, exiting their investments with a premium as domestic investors took their place. Over the past year, this hope has led international companies to repatriate more than $5 billion to their home countries. Many of these companies operated unlisted subsidiaries in India for a long time, such as LG Electronics or Hyundai Motor, and have used them to…
New Delhi: Digital content platform provider Kuku Technologies (popularly known as Kuku FM) has filed a confidential Draft Red Herring Prospectus (DHRP) as it looks to strengthen its position in the short-form media economy. The company aims to raise up to ₹3,500 crores in this regard, though further details haven’t been revealed yet. Founded by IIT alumni Lal Chand Bisu, Vinod Kumar, and Vikas Goyal in 2018, Kuku Technologies has already raised over $150 million so far from Krafton, Granite Asia, IFC, India Quotient, 3one4 Capital, and others. The company is claiming to be near the operational break-even level with…
