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Nvidia has sharply accelerated its AI-focused investment strategy, committing over $40 billion in 2026 to companies across the AI infrastructure ecosystem. Its investments are paying off handsomely, including a $5 billion stake in Intel that has surged in value to more than $25 billion within months.
This week, Nvidia expanded its reach with multibillion-dollar investment agreements involving IREN and Corning, underscoring its dominance in the booming AI market.
At the same time, Big Tech is facing mounting legal and regulatory scrutiny. Software developer Rave has filed an antitrust suit against Apple, alleging the iPhone maker removed its shared video-viewing app from the App Store after launching rival feature SharePlay.
The Ontario-based company is seeking reinstatement on the App Store along with hundreds of millions of dollars in damages, according to a complaint filed in federal court in New Jersey.
Meanwhile, General Motors (GM) has agreed to pay $12.75 million to resolve claims that it illegally sold hundreds of thousands of Californians’ location and driving data to two data brokers, said the state’s attorney general. He said this came after the Detroit-based automaker had given “numerous statements reassuring drivers that it would not do so”.
ICYMI: Kiran Mazumdar-Shaw, Founder and Executive Chairperson of Biocon, has signalled a clear succession roadmap for the group, naming her niece, Claire Mazumdar, as the next in line to lead the company.
In an interview, she said the company is gearing up for its next phase of growth, with a sharper focus on advanced biotechnology and the integration of artificial intelligence.
In today’s newsletter, we will talk about
- VC inflow falls on lower deal volume
- The story of global pharma giant Lupin
Here’s your trivia for today: Which team won the first Premier League title?
Funding
VC inflow falls on lower deal volume
Venture capital funding into Indian startups once again declined in the first week of May due to a combination of fewer deals and the absence of high value transactions. This might be a difficult situation for the Indian startup ecosystem in terms of raising capital in the coming weeks. The only hope lies in the second half of the year, provided there is stability in the macroeconomic environment.
Key takeaways:
- The total funding for the first week of May was $129 million across 19 deals. In comparison, the previous week saw a total amount of $219 million.
- Skyroot Aerospace’s $60 million deal came as a relief. It also shows that the Indian startup ecosystem is still not out of the woods in terms of weakened capital inflow as the external macro-economic environment continues to remain challenging.
- Even the number of deals on a weekly basis has been averaging around 20. This has also affected VC funding raised on a weekly basis. In addition, there is no definite investment theme for the Indian startup ecosystem.
ICYMI
The story of global pharma giant Lupin
Desh Bandhu Gupta, who grew up in a house without electricity or water, founded Lupin, a leading pharma company that sends 20 billion pills to America every year. His biographer, Manish Sabharwal, shared the story of DBG and Indian pharma with Shradha Sharma, Founder and CEO of YourStory.
“I don’t think any economist in the world would suggest that the country that is 128th in per capita GDP (that is, India) would be making 60% of the world’s medicines, have a third of the US FDA plants, and sell in 200 countries,” says Sabharwal, who traces the story of DBG, Lupin, and the Indian pharma sector in a recently launched book, Made in India, co-written with Sundeep Khanna.
Key takeaways:
- DBG, who passed away in 2017, is Sabharwal’s father-in-law. The TeamLease co-founder earlier co-authored Kashmir Under 370 with his father, Mahendra Sabharwal, a former Director General of Police in Jammu & Kashmir.
- In DBG’s early years, running a business often meant dealing with the state before dealing with the market.
- Sabharwal mentions that Lupin’s toughest phase came from decisions DBG himself made. At one point, “DBG had gambled on real estate and the stock market, and both had turned to dust,” says Sabharwal. The company’s market value collapsed—from Rs 1,000 crore to Rs 286 crore.
News & updates
- Football: Fifa tripled the price of its best available tickets to the World Cup final, making $32,970 seats available for the July 19 match at MetLife Stadium in East Rutherford, New Jersey.
- Hollywood: Memorabilia belonging to late screen icon Marilyn Monroe is headed to auction, featuring wardrobe pieces, jewellery, letters, handwritten notes, paintings, and poetry that offer a glimpse into her private life.
Which team won the first Premier League title?
Answer: Manchester United
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