BigBasket is targeting a public listing over the next 18 to 24 months, Reuters reports
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Tencent releases new AI model, claims superiority over DeepSeek
Tencent Holdings has released Hunyuan Turbo S, its latest artificial intelligence (AI) model that the Chinese internet giant says is faster than rival DeepSeek’s eponymous chatbot, according to a Bloomberg News report distributed on MSN.
The emergence of DeepSeek’s AI in January has sent companies, researchers and engineers around the world rushing to build and deploy their own models, after the startup’s claim that its version cost significantly less to develop versus the maker of ChatGPT, OpenAI’s GPT large language model.
There’s no abatement in investments in AI as Nvidia’s latest quarterly results showed last week, although the slightly lower margins at the dominant AI chipmaker has led some in the industry to observe that future of AI development will involve many less-powerful alternatives as well, versus those offered by Nvidia. This is a thesis that’s also supported by the H800 chips used by DeepSeek.
Microsoft to end Skype, users can go to Teams or move on, with data
Microsoft will end Skype in May, replacing it with its Teams collaboration platform, and consumers will get the free version, The Verge reports.
Existing Skype users will be able to log in to Teams and have their data automatically available, such as chat history or contacts, according to The Verge. Skype users will have the option to move on to Teams or “move on” to other platforms, Jeff Teper, president of Microsoft 365 collaborative apps and platforms, told The Verge in an interview.
Skype was founded in 2003 by Niklas Zennström and Janus Friis in collaboration with some Estonian developers – initially developed as a peer-to-peer model. Microsoft acquired it in 2011 in a deal valued at $8.5 billion, and hosted is as a centralised system on its Azure cloud platform.
Hero Electric headed for insolvency resolution
Hero Electric, India’s first electric scooter maker, is headed insolvency resolution, with falling sales and hundreds of crores of rupees in debt owed to banks, Economic Times reports, citing certain documents the paper had reviewed, and an industry source.
The company is said to owe more than Rs300 crore to creditors, according to ET. Once a leader in the electric two-wheeler market in India, Hero Electric fell behind owning to a combination of supply chain disruptions that delayed localisation, and a government probe into violations of EV sector subsidy rules, the paper reports.
Under India’s Insolvency and Bankruptcy Code, a government appointed resolution professional is seeking expressions of interest from prospective bidders for the company, which notice was floated on February 18 and is set to close on March 14, according to ET.
BigBasket to step up Q-Commerce, target late 2026 IPO
BigBasket is targeting a public listing over the next 18 to 24 months, Reuters reports, citing CEO Hari Menon. The Tata Group company, one of India’s biggest groceries delivery providers, will also step up its quick-commerce operations as that market hots up with rivals including listed players Swiggy, Zomato and privately held Zepto.
Menon expects BigBasket to double its business in the fiscal year ending March 31, 2026, versus the current year, according to Reuters. The company will also double its presence to 70 cities in that time, he added. BigBasket is said to have been pulled up by Tata Sons, which holds a majority stake in the Bengaluru headquartered company, for lagging rivals in the quick commerce space, Economic Times reported on February 21.
Himashield 2024, glacial flood mitigation challenge, names winners
India’s centre for development of advanced computing, C-DAC, concluded its HIMASHIELD 2024 grand challenge on National Science Day, February 28. C-DAC named three winners of the nationwide challenge, from an initial 151 entries, dedicated to tackling the growing threat of glacier lake outburst floods (GLOFs) caused by climate-change-induced glacier melting, according to a press release from the ministry of electronics and IT.
The challenge, launched in August 2024, invited researchers and innovators to submit proposals for monitoring and managing glacier lakes, designing early warning systems, and implementing engineering measures. Entries were evaluated based on innovation, feasibility, and applicability, with the goal of creating scalable solutions to protect communities and infrastructure. This initiative encourages cutting-edge climate resilience efforts, fostering a safer and more sustainable future.
