AI Industry Development & Policy Dynamics

According to The Economic Times, Indian AI startup Sarvam AI has raised US$234 million in an ongoing funding round led by HCLTech, with a valuation of US$1.5 billion. Bessemer Venture Partners and existing investors Khosla Ventures and Peak XV Partners also participated in the round. Sarvam AI

According to Bloomberg, Enflame Technology, a Shanghai-based AI chip developer backed by Tencent, won approval for an initial public offering on Shanghai's STAR Market on June 15. The company plans to raise 6 billion yuan ($888 million) by selling 10% to 15% of its shares. Tencent holds a 20%

Vinay Trivedi, COO at SGX FX, outlined how AI, clearing mechanisms, and hybrid market structures are reshaping institutional FX operations in an interview discussing the practical consequences of market transformation. Trivedi explained that the shift is driven by institutions demanding smarter

According to Tech in Asia, Salesforce announced today (June 16) the acquisition of Fin, an AI-powered customer service platform, for approximately $3.6 billion. The transaction is expected to close in the fourth quarter of Salesforce's 2027 fiscal year. Following the announcement, Salesforce

Federal Judge Rita Lin dismissed xAI's trade secret lawsuit against OpenAI, denying the company's request to amend the complaint. The judge ruled that xAI failed to prove OpenAI induced its former engineers to disclose trade secrets related to the Grok chatbot during recruitment. Judge Lin noted tha

According to TrueUp data, the global tech sector has conducted approximately 363 layoff events since the start of 2026, affecting nearly 150,000 workers—averaging 974 dismissals daily, a 44% increase year-over-year. AI has become the primary stated reason for workforce reductions, according to

Qualcomm is in talks to acquire Tenstorrent, an artificial intelligence chip startup, at a valuation between $8 billion and $10 billion, according to a report. The talks remain ongoing, and the final price could change or the deal could fall apart. The potential acquisition would strengthen Qualcomm

According to Nohshad Shah, head of fixed income sales for Europe, Middle East and Africa at Castlestone Securities, the firm recently warned that a potential Federal Reserve rate hike cycle starting as soon as September, combined with shifting investor skepticism toward AI economic returns, poses se

According to ChainCatcher, IREN, a former bitcoin mining company now focused on AI infrastructure, acquired Spanish AI data center developer Ingenostrum, S.L. (Nostrum Group) on Monday, marking its entry into the European market. The acquisition adds approximately 490 megawatts of secured

According to The Information, Qualcomm is in talks to acquire startup Tenstorrent for an estimated $8 billion to $10 billion to expand its artificial intelligence chip capabilities. The deal is still under negotiation, with the final price subject to change and talks potentially falling

According to U.S. government officials, representatives from Anthropic will meet with American officials at the Commerce Department on Monday (June 16) to address export control disputes.

U.S. District Judge Rita Lin dismissed xAI's trade secret lawsuit against OpenAI on Monday, ruling that Elon Musk's AI company failed to prove OpenAI improperly obtained confidential information about its Grok chatbot. The court granted OpenAI's motion to dismiss without leave to amend, finding xAI

According to U.S. District Judge Rita Lin's court order on Monday, the federal judge dismissed xAI's trade secret lawsuit against OpenAI without leave to amend, finding the company failed to prove OpenAI improperly obtained confidential information related to its Grok chatbot. Judge Lin concluded th

Ventuals, a Hyperliquid-native perpetual futures project, shut down its OpenAI and Anthropic valuation markets on Monday, according to the team. The OPENAI and ANTHROPIC contracts have already been halted with all positions automatically settled, while other markets will close in coming days. The pr

IplanRIO released Rio 3.5 Open 397B on June 13, billing it as a government-built frontier AI model with benchmark scores topping established models including Qwen 3.7 Plus. Days after release, AI company Nex published a mathematical proof showing the model is a direct 0.6 Nex / 0.4 Qwen weight

According to Nex-AGI, on June 14, the AI company published a mathematical proof showing that Rio de Janeiro's Rio 3.5 Open 397B—released June 13 and claimed to be a government-built frontier model—is a direct weight merge of 60% Nex N2 Pro and 40% Qwen 3.5 base model. Nex measured collinearity

IREN, a bitcoin mining company transitioning to AI infrastructure, acquired Ingenostrum, S.L., known as Nostrum Group, a Spain-based AI data center developer. The deal adds about 490 megawatts of secured, grid-connected power to IREN's portfolio and brings more than 50 employees across

IREN acquired Spain-based Nostrum Group, a developer of AI data centers, on Monday, adding approximately 490 megawatts of secured, grid-connected power to its portfolio, according to the company. The acquisition also brings more than 50 employees across development, engineering, construction, and op

According to Stocktwits, AMD announced on Monday that it has acquired MEXT, an AI-driven memory optimization company, to help enterprises address memory constraints in data centers. MEXT's technology uses predictive AI models to make flash storage function more like DRAM, enabling organizations to e

According to Bloomberg News, Kalshi developed an AI agent called Harrison to support its internal procedures on Monday.