Malaysia’s Khazanah pays Elevation $40 million for 3% stake in Xpressbees

New-age logistics firm valued at $1.3 billion; Elevation takes $120 million out in a year from secondary deals

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Tech Mahindra's Q4 net profit dips 26% to Rs 1,118 crore

​​North American inflation has impacted spending sentiment while Europe is also going through challenges, said CEO CP Gurnani adding that clients are looking at tightening budgets echoing the sentiments of other IT peers Tata Consultancy Services, Infosys and HCLTech.

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Elon Musk ramps up AI efforts, even as he warns of dangers

Although Musk is pushing back against OpenAI and plans to compete with it, he helped found the AI lab in 2015 as a nonprofit. He has since said he has grown disillusioned with OpenAI because it no longer operates as a nonprofit and is building technology that, in his view, takes sides in political and social debates.

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Data services innovations by 6 deeptech startups take centre stage at NetApp Excellerator Demo Day

Zluri, AppSenitels, RapL, PrivaSapien, Firefly, and Squadcast were the six graduating deeptech startups of NetApp Excellerator Cohort 11. With this cohort, the NetApp Excellerator program has mentored and accelerated the growth of a total of 72 deeptech startups, who have raised funding worth over $330 million.

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Over 9,000 startup jobs slashed between Jan-March; betting, gambling apps advertise despite ban

Layoffs in the startup and tech ecosystem have continued into 2023, according to data from recruitment platform Careernet. The situation might not get better any time soon. This and more in today’s Morning Dispatch.

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ONDC to evaluate etailers based on commitment, says CEO Thampy Koshy

In April 2022, the network piloted a soft launch in five cities - Bengaluru, Delhi NCR, Shillong, Bhopal and Coimbatore. Since then, ONDC has also started a beta pilot in Bengaluru and in some tier-II cities.

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Meta Q1 results: Revenue up 3% to $28.7 billion, net profit plummets 24%

The company's net profit dropped significantly by 24% to $5.7 billion from $7.5 billion in Q1 2022.

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