New Delhi, April 17 (IANS) Billionaire industrialist Gautam Adani, Chairman of the Adani Group, has become Asia’s richest individual, overtaking Reliance Industries Chairman Mukesh Ambani, according to the latest Bloomberg Billionaires Index.Gautam Adani’s net worth rose to $92.6 billion, placing him 19th globally, while Mukesh Ambani slipped to the 20th position with a net worth of $90.8 billion.The reshuffle at the top highlights the ongoing volatility in global wealth rankings in 2026, am…
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Sanand (Gujarat), March 31 (IANS) Union Electronics and Information Technology Minister Ashwini Vaishnaw on Tuesday said four semiconductor plants are expected to be ready in India by 2026, as he outlined an accelerated roadmap for the sector following the inauguration of a new facility in Gujarat.In comments after Prime Minister Narendra Modi inaugurated the Kaynes Semicon’s OSAT plant in Sanand, Vaishnaw said: “In 2026, four plants will be ready, and two plants in 2027. India’s first fabrica…
New Delhi, March 27 (IANS) Growing concerns over China’s rapid advances in artificial intelligence (AI) are driving an unprecedented alignment between US lawmakers and Silicon Valley, with both sides increasingly viewing the technology race as a strategic and economic battle, a report said.At the Hill and Valley Forum, a platform aimed at bridging ties between Washington and Big Tech, leaders from government and industry signalled rare consensus that competition with China in AI has become cri…
New Delhi, March 18 (IANS) India is emerging as a key player in the global semiconductor ecosystem, not because of large chip manufacturing plants, but due to its strong pool of engineering talent and growing design capabilities, a report has said.For years, countries like Taiwan and South Korea have dominated discussions around semiconductor alliances because of their advanced fabrication facilities, while Japan has been known for its strength in materials and equipment.In comparison, India has…
New Delhi, March 17 (IANS) IT stocks came under selling pressure on Tuesday, emerging as the top dragger among sectoral indices amid rising concerns over the impact of generative artificial intelligence on traditional revenue streams.The Nifty IT index declined as much as 2.59 per cent to 28,288, hitting an intra-day low, with all constituents of the index falling by up to around 7 per cent.Meanwhile, the Nifty traded with high volatility, while weakness was also seen in PSU Bank and FMCG indice…
New Delhi, March 17 (IANS) Major chipmaker Nvidia made a series of announcements at its annual GTC event, with CEO Jensen Huang saying that the company could generate up to $1 trillion in revenue from AI chips alone by 2027 amid the ongoing rapid growth in artificial intelligence industry.Speaking at the event held in San Jose, California, Huang outlined Nvidia’s strategy to dominate the AI ecosystem by building an integrated stack of hardware, software and infrastructure.One of the key highli…
New Delhi, March 11 (IANS) Offices and infrastructure of major US technology companies in Israel and some Gulf countries could come under Iranian attack as the conflict in the Middle East intensifies, according to reports.Iran’s Tasnim News Agency, which is affiliated with the Islamic Revolutionary Guard Corps (IRGC), has reportedly published a list of offices and infrastructure run by leading American companies with Israeli links, alleging that their technology has been used for military purp…
New Delhi, March 3 (IANS) US stock markets are set to open sharply lower on Tuesday, as rising tensions in the Middle East continue to shake investor confidence and push oil prices higher.Futures linked to the S&P 500 and the Dow Jones Industrial Average were down nearly 2 per cent in pre-market trade, while futures of the Nasdaq Composite fell around 2.5 per cent — indicating a weak start for Wall Street.The decline comes as tensions between the United States, Israel and Iran intensify.Con…
Mumbai, Feb 27 (IANS) The Indian equity markets opened the last session of the week with losses on Friday despite strong gains in the domestic IT stocks.The Indian IT stocks defied global trends amid technology-led selloff seen in Wall Street following weaker-than-expected earnings from Nvidia.As of 9.20 am, Sensex lost 346 points, or 0.42 per cent, to reach 81,903, and Nifty eased 113 points, or 0.44 per cent, at 25,383 in the morning trade.Main broad-cap indices performed in line with the benc…
Seoul, Feb 26 (IANS) South Korean stocks soared more than 3 per cent to close at a fresh record high of over 6,300 on Thursday as investors were buoyed by artificial intelligence (AI) prospects following Nvidia’s better-than-expected earnings report. The local currency gained slightly against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) earned 223.41 points, or 3.67 percent, to finish at a record high of 6,307.27. The index has risen for the six consecutive day, repo…