These 5 latest stories from the tech space will keep you updated with trends today.
1. Google to enter India with $10 billion investment
Leading tech company Google, on Monday, has announced its intent to invest $10 billion in India, an investment that is expected to continue for the next five to seven years. According to the digital and search-engine company, the investment is part of its ambition to help accelerate adoption of digital services in the key overseas market. During the unveiling of the plan by the CEO Sundar Pichai, today, he noted that the investment has been tagged: Google for India Digitization Fund.
Speaking on the vibrancy and prospect of India’s digital economy, the CEO further noted that the investment would come in a mix of portfolios. “We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy,” Sundar said. Considering India’s population build up of about 500 million people, investment analysts have stated that this is Google (like Facebook) thinking forward and future.
2. Jack Ma cuts $10-billion in Alibaba shares
Going by the latest Alibaba Group’s annual report, its co-founder Jack Ma has cut his stake in the company to 4.8% from 6.4%, nearly cashing out US$9.6-billion at its current share price. This divestment comes on the heels of the cofounder’s retirement as the Chinese e-commerce company’s executive chairman. Recall, upon his retirement, he stated that the opportunity will give him chances to stay off business and focus on philanthropy.
Although, Alibaba did not disclose the average selling price of his divestment. But, according to industry reviews, we learnt that share price had risen around 40% since Ma reported his 6.4% holding in the company 12 months back. Noteworthy, more so, as the stock’s stellar performance has been helped by forecast-beating earnings growth, even as China’s economy sharply slows, as influenced by the Covid-19 pandemic. Like Jack Ma, Alibaba executive vice chairman Joseph Tsai also reduced his stake in the company from 2.3% to 1.6%, shares worth $4.1-billion.
Which agricultural-sounding word can be used in place of a tech factory?
Answer: See end of post.
3. S. Africa’s health-tech startup launches chatbot
In a bid to ensure the safety of high-risk chronic patients during this uncertain period in the Western Cape, Aviro Health, a health-tech startup has reportedly partnered with The Western Cape Government Department of Health to create an automated Chatbot application system. The Chatbot, according to reports uses Whatsapp to confirm the delivery of chronic medication to patients’ homes, easing its use and adaptation among people.
To reduce the risk of vulnerable patients waiting in long queues, the Chatbot platform allows users to confirm existing appointments with their healthcare professionals or facilities. Commenting on the product, Mohamed Sonday, Pharmacist at Mitchells Plain Hospital explained that the Chatbot system offers benefits that are two-fold as it assists patients and healthcare workers alike. Feeds from reviewers indicate that the positive user experience has assisted the number of users of the Chatbot to grow exponentially.
4. Microsoft builds digital auditorium as its Teams app upgrades to 20, 000 Participants
Microsoft is seemingly working on reducing meeting fatigue while making meetings more inclusive and engaging as it announced upgrading its chats and videoconferencing app Teams to accommodate 20, 000 participants. Analysts have speculated that this new development, should it pulls through successfully, would displace Zoom and other competition.
5. Qualcomm lists $97 million as investment into India’s Reliance Jio Platforms
Raising more than $15.7 billion in the past 12 weeks, India’s Reliance Jio Platforms has scored another major investment from Qualcomm Technology, Inc. Reliance Jio made this announcement on Sunday, noting that the VC firm listed $97 million to acquire a 0.15% equity stake “on a fully diluted basis”. According to Qualcomm its investment will support the firm to “roll out advanced 5G infrastructure and services for Indian customers.”
Disrupting the Indian telecommunications market space, Reliance Jio Platforms competes with Bharti Airtel and Vodafone Idea, offering cut-rate voice and data plans. Reviews indicated that the firm has amassed nearly 400 million subscribers to become the top carrier in the world’s second largest internet market in less than four years of its existence. In achieving this stunt and maintaining its points, Facebook, Silver Lake, General Atlantic, Intel are some of the firms that have backed Jio Platforms at the height of a global pandemic. It has reportedly sold 25.24% stake in the firm during the period.
Tech Trivia Answer: Plant
The noun plant has numerous meanings, but in the context of manufacturing or tech industry, plant is often a synonym for factory. It defines the premises, fittings, and equipment of a business entity. It identifies a factory, a place where an industrial process is carried out. In extended use: the workers employed at a business, institution, or factory.
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