Zepto meets reality

One of India’s fastest-growing companies, Zepto got a sobering cold shoulder from public markets. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot One 97 Communications Ltd ₹1,419 +0.6% Krafton Inc ₩237,000 +1.7% NetEase Inc $131.58 -1.3% Market data as of 04:44 AM ET. Data is subject to provider delays. Your watchlist Top Stories Talking safety: The Trump administration plans to host AI companies at the White House on Tuesday to discuss a new US framework for conducting voluntary safety tests of new models. Anthropic, OpenAI and Google will attend. Out of this world: Palantir raised its outlook for full-year sales and income after far exceeding Wall Street estimates with its second-quarter results. CEO Alex Karp called commercial demand “otherworldly”. Japan powers up: NTT Data expects to spend at least $9 billion through 2033 to quadruple computing capacity to 1GW, addressing a surge in demand in Japan. Local companies are investing in the chase to catch up in AI. Top Reads China’s AI Blitz Creates ‘Death Zone’ for Rival US Model Makers A flurry of model launches from China’s AI sector is rapidly narrowing the gap with Silicon Valley and creating what’s been described as a death zone for anyone without frontier-pushing technology or market-breaking pricing. Snap Projects Strong Sales Growth Ahead of AR Glasses Debut Snap Inc. posted higher-than-projected quarterly sales and gave an upbeat forecast for the current period, signaling optimism ahead of the September commercial debut of its first pair of augmented reality glasses. Huawei’s Top Scientist Warns of Chip Limit Nvidia Will Soon Face Huawei Technologies Co.’s top semiconductor scientist warned of the looming physical limits Western chipmaking giants including Nvidia Corp. face in their pursuit of more powerful processors, in a rare public appearance streamed in China. Beyond The Brief One of India’s fastest growing startups, quick-delivery pioneer Zepto, had a sobering encounter with reality when it sought to approach public markets, writes Sankalp Phartiyal in today’s Tech In Depth essay. Investors in the country have grown weary of growth-over-profit operations and now demand a clear path to sustainable income before putting big valuations on startups. Before You Go... Apple’s India Sales Top $10 Billion on Widening Retail Push Apple exceeded $10 billion in annual sales in India for the first time last fiscal year, underscoring surging demand for its pricey devices in a market where it’s steadily ramping up its retail network. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |