There has been a surge in sales of premium smartphones in India since the pandemic with mass segment consumers postponing purchases due to income constraints during the peak of Covid and record high inflation last year. As per industry executives, Apple has gained a larger share of wallet in the country for this.
And while Amazon's holiday revenue beat Wall Street's expectations, the company believes sales growth in its long-lucrative cloud business will slow for the next few quarters, its chief financial officer told reporters.
Popular deal structures and valuation approaches employed by Indian startups could take a hit as the central government extends angel tax provisions to foreign investors.
Experts said to avoid the tax, startups might consider readjusting the jump in valuation and avoid a wild swing in pricing a round– especially if the business fundamentals of the company have remained unchanged.
Microsoft-owned OpenAI has launched its paid subscription plan for ChatGPT, its text-generating AI that can write like humans.
Musk tweeted that he had "funding secured" to take the carmaker private at a $420 per share price, a premium of about 23% to the prior day's close.
Investors will look for details on how chief executive Tim Cook is trying to bolster demand in a weak economy that has prompted mass layoffs in the tech industry, a move Apple has so far avoided thanks to frugal hiring during the pandemic
