Welcome to today's edition of the NextBigWhat Daily News!
Check today's top 10 news stories.
SoftBank’s Arm Sees Strong $60bn Nasdaq Debut, Shares Soaring 10% Above Offer Price
- SoftBank’s Arm Holdings was valued near $60 billion in successful Nasdaq debut, with shares jumping above their offer price.
- Despite hurdles and market fluctuations, experts see Arm’s listing as a critical boost to the IPO market and fosters confidence amidst investors.
- Despite some concerns about exposure to risks in China, the IPO was oversubscribed multiple times, evidencing faith in the company’s prospects.
WordPress introduces ActivityPub plug-in for enhanced social interaction
- WordPress now allows blogs to interact with users on federated platforms like Mastodon using the ActivityPub plug-in.
- The tool enables blog-wide accounts, ‘follow me’ button, ‘followers’ display, and received comments from federated platforms.
- Their plug-in now has over 42,831 installations and soon, support for WordPress.com blogs.
RBI Announces Enhanced Regulatory Procedures for 15 Large NBFCs in FY24
- RBI has listed 15 NBFCs, including LIC Housing Finance and Tata Sons, under the Upper Layer category for increased regulatory compliance.
- These NBFCs will be subject to enhanced regulation for at least five years, despite any fluctuation in their parametric criteria.
- TMF Business Services Ltd has been excluded from the NBFC-UL list due to its ongoing business reorganisation.
Windows 11’s Snipping Tool adds OCR tech, Phone Link improves editing speed
- Microsoft updates Snipping Tool and Phone Link apps on Windows 11, preview available to Windows Insiders.
- Snipping Tool acquires OCR to recognize and copy text from screenshots, along with redacting features.
- Phone Link speeds up editing process by sending notifications upon capturing a new photo.
MSN Fails to Address Plagiarized AI-Generated Content Despite Deleting Some Articles
- MSN has deleted an AI-plagiarized article syndicated from Race Track that inaccurately depicted deceased NBA player Brandon Hunter.
- Despite these removals, MSN continues to syndicate barely comprehensible content from Race Track, including copied articles.
- MSN’s intermittent deletion of certain AI-generated articles indicates a lack of systematic content moderation and the likelihood of more such instances.
Patronus AI debuts LLM evaluation tool for regulated industries, secures $3M seed funding
- Patronus AI, a startup founded by ex-Meta AI experts, has launched a service to test and evaluate large language models (LLMs), focusing on regulated industries.
- The newly-released tool aims to identify potential difficulties in LLMs, especially instances where the model presents incorrect answers due to a lack of relevant data.
- Alongside revealing their product, Patronus AI also announced a $3 million seed round led by Lightspeed Venture Partners with participation from Factorial Capital and several industry angels.
AI-driven Marketing Platform Pixis Raises $85M, Eyes Profitability in Q4
- Pixis has raised $85 million in a Series C1 round, bringing its total funding to $209 million.
- The platform anticipates profitability in Q4 after a 140% YoY growth in 2023 and annual recurring revenue of $50 million.
- Funding will be used for R&D, infrastructure expansion, strategic partnerships, and potential acquisitions, as well as expanding the sales and business development teams.
Honor reintroduces smartphones in India after three-year hiatus
- Honor, a top five Chinese smartphone maker, reenters India with Honor 90, its first new device in over three years.
- Local firm HTech, under a licensing deal with Honor, will commence smartphone sales, aiming to reach a 5% market share by December 2024 and start local manufacturing in 2023.
- After facing tough competition from brands like Xiaomi, Oppo, and Samsung, Honor and HTech will be implementing a new strategy to gain a foothold in India’s smartphone market.
Indian Startups Appeal to TRAI Against Excessive OTT Regulations
- SaveTheInternet campaign releases open letter from Indian startups to TRAI regarding regulation of OTT services.
- The letter expresses concerns over ‘overregulation’ and potential ‘discriminatory consequences’.
- It disputes claims that OTT services are ‘direct substitutes’ of traditional services and hence eating into their revenues.
Increase in iPhone 15 Pro price in India due to taxes and duties
- The Indian pricing of iPhone 15 Pro model has increased due to a weak rupee and significant taxes and duties levied.
- GST, import duties, and other taxes account for approximately Rs 41,193.42 of the Rs 1,34,900 sticker price.
- Apple begins iPhone 15 production in India, but components and Pro models still face import duties up to 22%.
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