AM Intelligence plans $20 billion additional investment in 15 months, orders 20k more Nvidia GPUs

The company announced that it has placed two further firm and binding orders for 20,000 NVIDIA Rubin GPUs for deployment of the systems across India and Malaysia, taking its total capacity to 100 Megawatt.

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OpenAI's Sam Altman says AI benefits warrant accepting some risks

OpenAI Chief Executive Sam Altman said the benefits of artificial intelligence justify accepting some risks and argued the technology should remain broadly accessible to the public "

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Menlo Ventures on AI slowdown; Ola Electric CEO pledges stake

Happy Monday! Menlo Ventures, an early Anthropic backer, says the real AI constraint is compute, not a slowdown in frontier models. This and more in today's ETtech Morning Dispatch.

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Nykaa expects net revenue growth in late twenties in Q2

Nykaa said fashion was a faster-growing vertical, with NSV expected to grow in the late forties and net revenue in the early forties. Nykaa said more than 250 brands were added during the quarter and that its partnership with Nike continued to see "encouraging early traction," supported by exclusive drops.

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Karnataka gig workers seek implementation of welfare schemes

In a letter to the board’s chief executive officer, Indian Federation of App-based Transport Workers (IFAT) and Karnataka App-based Workers Union (KAWU) sought immediate rollout of health and accident insurance, income support during medical emergencies and temporary disablement, maternity benefits, scholarships for children of platform workers and an emergency distress fund.

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India fastest-growing Asia market for NetApp; BFSI and public sectors key growth drivers: CEO

The San Jose-based data infrastructure company has also grown its global capability centre in Bengaluru, with the majority of global R&D processed out of the centre. With a team of about 4,000 engineers, the centre is the largest for NetApp and is core to the global innovation work for the company across technology areas.

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OpenAI safety employee quits, calls for nuclear-level safeguards

David Robinson, who previously led transparency work on OpenAI’s safety team, wrote in an essay that the ChatGPT maker “has thrived by trial and error.” However, he said the stakes of the inevitable failures that come from that approach are growing along with the technology’s capabilities, citing OpenAI’s failure to prevent its AI from going rogue during testing.

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