Indian AI startup Neysa has raised $30 million in a Series A funding round, aiming to compete with global hyperscalers like AWS and Google Cloud. Led by Sharad Sanghi, Neysa offers AI infrastructure and machine learning platforms, catering to businesses seeking flexibility in AI solutions. The startup focuses on both public cloud and private clusters, differentiating itself by using open-source platforms with no client lock-in.
Neysa plans to use the new funding to enhance its infrastructure, expand research and development, and introduce new products, including a developer platform and inference-as-a-service. Since launching its flagship platform Velocis in July, the Mumbai-based company has grown to 12 paying customers across industries like banking and media, with 70% opting for private clusters. The startup expects to enter global markets in the coming months, with additional funding already in the works.
Neysa’s rise reflects the growing demand for AI infrastructure in India, where the market is projected to reach $17 billion by 2027. With fresh capital and plans for expansion, Neysa is positioning itself as a significant player in the AI space, both in India and abroad.
The US Commerce Department has announced plans to award $325 million to Hemlock Semiconductor to expand its production of semiconductor-grade polysilicon. The funding is part of a larger effort to shift and strengthen the United States chip supply chain.
The grant, from the $52.7 billion semiconductor manufacturing and research subsidy programme, will support the construction of a new facility in Hemlock, Michigan. Commerce Secretary Gina Raimondo stressed the importance of a reliable source of polysilicon for manufacturing semiconductors, which are critical to the nation’s economic and national security.
Hemlock Semiconductor, a joint venture of Corning Inc and Shin-Etsu Handotai, is making a significant investment in advanced technologies to maintain its position as a leading supplier to the semiconductor market. The expansion aligns with the Biden administration’s broader plan to boost domestic chip production through grants to major companies.
The administration has already announced preliminary awards totalling $36 billion from the $39 billion set aside for manufacturing subsidies. While only one grant has been finalised, officials expect more deals to be concluded by the end of the year.
Qualcomm is integrating advanced AI technology from its laptop processors into mobile phone chips. The new Snapdragon 8 Elite chip introduces improved capabilities for generative AI, such as producing images and text.
The chip incorporates Qualcomm’s Oryon custom computing technology, originally developed by engineers who joined the company from Apple in 2021. This innovation aligns with the company’s broader effort to push AI features across various platforms.
Developers will benefit from enhanced tools that complement existing Android functionalities, allowing deeper use of the Snapdragon chip’s AI capabilities. Qualcomm aims to distinguish its approach from Google’s rapid developments in AI by offering unique technologies to app creators.
Major companies, including Samsung, Xiaomi, and Asustek, are set to integrate Qualcomm’s latest chips into their devices. This marks another step in the company’s strategy to remain a leader in mobile computing and AI solutions.
Italy is preparing to introduce regulations that will require major tech companies to contribute to the costs of building telecoms infrastructure. Industry Minister Adolfo Urso stated that the government is working to ensure that companies such as Google, Meta, and Amazon bear part of the financial burden for expanding high-speed networks.
Telecom providers, including Telecom Italia and Deutsche Telekom, argue that these Big Tech firms generate much of the internet traffic and should therefore share the costs of network development. The proposed measures, which some refer to as ‘fair-share funding,’ have been backed by ruling politicians in Italy.
Proposals presented in parliament aim to set up agreements where Big Tech would negotiate technical and financial terms to support telecom infrastructure investments. Lawmakers believe this will help maintain the expansion of electronic communications networks.
This initiative is in line with similar efforts from the European Union, which has called for large tech platforms to contribute to network funding before the re-election of European Commission President Ursula von der Leyen in June.
A recent study by McKinsey highlights that Portugal must retrain around 1.3 million workers, about 30% of its workforce, by 2030 to adopt generative AI and close its productivity gap with the rest of the European Union. Portugal has long struggled with low productivity, which has contributed minimally to GDP growth compared to the EU average. However, the study predicts that by rapidly integrating AI and automation, the country could significantly boost productivity, matching projected EU levels.
Generative AI, which creates content like text and images based on past data, could help Portugal compete with more developed economies if the workforce is prepared for the technological shift. This change will also require the public, private, and education sectors to collaborate in reshaping job roles and work processes. For every euro invested in AI technology, McKinsey suggests that three euros will be needed for managing organisational transitions.
Besides upskilling 1.3 million workers, the study indicates that around 320,000 employees in roles like customer service will need to transition to new jobs. This large-scale transformation could position Portugal for stronger economic growth in the coming years.
The Federal Communications Commission (FCC) has enacted new regulations requiring all mobile phones sold in the US to be compatible with hearing aids, significantly enhancing accessibility for individuals with hearing loss. Specifically, these rules mandate that manufacturers adopt standard Bluetooth coupling for universal connectivity, thereby eliminating proprietary standards.
In addition, mobile handsets must meet specific volume benchmarks to ensure that sound quality is maintained when the volume is increased. Furthermore, to inform consumers, handset manufacturers must clearly label their devices to indicate compliance with these new hearing aid compatibility standards.
Notably, these changes stem from years of study and advocacy by the Hearing Aid Compatibility (HAC) Task Force, which provided recommendations to the FCC. As a result, the FCC’s regulations aim to provide greater choice and improved functionality for the 48 million Americans with hearing loss, ensuring they can access a wider range of mobile technologies and features.
Honeywell has formed a partnership with Google to connect AI with industrial data. The collaboration aims to enhance autonomous operations, streamlining processes for Honeywell’s customers.
Google’s Gemini, its advanced AI platform, will merge with data from Honeywell’s Forge platform to automate tasks and shorten project timelines. The first AI-powered solutions will be available in 2025, offering support for engineers, technicians, and warehouse workers.
The partnership seeks to address industry labour shortages by introducing AI tools that boost productivity and efficiency. Automated processes will cut design cycles and process multiple data types, including images, videos, and sensor readings, using Google’s Vertex AI platform.
Honeywell’s CEO Vimal Kapur emphasised the goal of optimising asset performance, improving employee skills, and reducing maintenance costs. The partnership reflects a broader strategy to harness the latest advancements in AI to drive operational improvements.
The Canadian Radio-television and Telecommunications Commission (CRTC) is enhancing connectivity and cultural engagement across Canada through its strategic plan, ‘Connecting Canadians through technology and culture.’ The plan prioritises improvements in internet and cellphone services by promoting competition and investment to ensure reliable and affordable access for all Canadians, including those in rural, remote, and Indigenous communities.
Additionally, the CRTC is advancing the amended Broadcasting Act through public consultations that require online streaming services to contribute approximately $200 million annually to the Canadian broadcasting system. The ongoing implementation of the Online News Act reflects the CRTC’s commitment to establishing a robust framework for digital news media, ensuring diverse and reliable sources for Canadians.
CRTC is also focused on investing in its capabilities to serve Canadians better in the future. The commission aims to enhance its effectiveness in regulating telecommunications and broadcasting services by emphasising modernisation and strategic investments. This proactive approach benefits consumers and positions Canada at the forefront of technological innovation and cultural engagement in a rapidly evolving global landscape.
Vietnam has unveiled a national strategy to develop its semiconductor industry, with a focus on gradually building expertise and integrating it into the assembly, packaging, and testing (APT) stages of the value chain. The goal is to position Vietnam as a global semiconductor hub in the long term. According to a report from The Diplomat, Vietnam’s stable political environment and neutral diplomatic stance are key advantages in attracting foreign investment and partnerships in this sector.
The country’s youthful population also presents a major advantage as labour shortages loom in major semiconductor hubs like the US and South Korea. Investments in education and talent development will help Vietnam strengthen its presence in areas like chip design and research. Partnerships, such as those with Amkor, Cadence, and Synopsys, further support Vietnam’s ambitions to grow in the semiconductor space.
However, the report highlights challenges, including geopolitical pressures to align with either the US or China, competition from other countries like India, Malaysia, and Indonesia, and the need to meet global sustainability standards. Balancing these challenges with the demands of a growing industry will be crucial for Vietnam’s success in becoming a key player in the global semiconductor market.
Spain‘s Santander has launched its digital bank, Openbank, in the United States, aiming to expand its retail presence and fund up to $30 billion in auto loans. As one of the few European banks with a United States retail foothold, Santander hopes this move will help it compete more effectively in the market.
Santander‘s US operations already hold over $45 billion in retail deposits and $60 billion in auto-related loans. The new digital bank aims to reduce funding costs by shifting away from more expensive wholesale funding. Openbank is offering a 5.25% yield on its savings accounts to attract US customers.
Openbank‘s launch is part of Santander’s broader global strategy to become a digital bank with branches, aiming to increase market share in a competitive US banking landscape. The bank has no immediate plans to re-enter the mortgage lending market, focusing instead on its digital offering.
Santander’s CEO for the US, Tim Wennes, emphasised that while hiring for Openbank will be limited, the bank will evaluate partnership opportunities to expand the platform. The digital shift comes as Santander seeks to boost returns from its US operations.
