OpenAI is reportedly planning to build a massive 1 GW data center in India, marking its largest expansion in Asia as part of the $500 billion Stargate infrastructure initiative. The project, a joint venture of OpenAI, SoftBank, Oracle, and MGX, was announced at the White House earlier this year. SoftBank...
OpenAI to Collaborate on India’s Efforts to Build an Entire AI stack
OpenAI CEO Sam Altman announced that India is now the company's second-largest market, with the user base tripling over the past year. Altman recently met with India's IT Minister Ashwini Vaishnaw to discuss a low-cost AI ecosystem and India's plans for an AI stack, including GPUs, models, and applications, with...
India’s Oyo Acquires Motel 6 and Studio 6 for $525M
Headquartered near New Delhi, Oyo, the India-based hotel company, has agreed to acquire the Motel 6 and Studio 6 hotel brands from Blackstone for $525 million in an all-cash deal. This marks Oyo's second attempt to expand in the U.S. market as the SoftBank-backed startup continues its efforts to go...
India’s Cars24 Raises $450 Million, Doubles Valuation
With the demand for personal transport soaring during the pandemic, as well as a dearth of new vehicles due to semiconductor shortages, Delhi-NCR based used-car platform Cars24 just raised $450 million and nearly doubled its valuation to $1.84 billion. The new fund raise included a $340 million Series F equity...
India's OYO Enters America's Budget Hotel Market
Having raised $1 billion from the Japanese investor SoftBank, India's hospitality unicorn Oyo entered the U.S. market by opening an office in Dallas, and is testing the market with OYO Townhouses in Austin, Texas. The company generates most of its demand directly, and its customers book rooms via its mobile app. Oyo focuses on the...
Warren Buffet Makes First Investment in India
Omaha, Nebraska headquartered Berkshire Hathaway has taken a stake in Paytm, India’s largest digital payments company. Berkshire will buy 3 percent to 4 percent of Paytm’s parent company One97 Communications, in a deal that values the target at more than $10 billion. One97, founded by billionaire Vijay Shekhar Sharma, runs...