Elon Musk says he might merge Tesla and xAI
Interestingly, Musk had previously instructed Nvidia to prioritise xAI's chip orders over Tesla's. Yet, both companies still maintain close business ties. According to recent filings, xAI spent around $191 million (approximately Rs 1,635 crores) in 2024 and another $36.8 million through February 2025 on Tesla Megapacks — large-scale energy storage systems developed by the EV company.advertisementWhile city officials in Memphis welcomed the Colossus facility, calling it a step towards making the region a high-tech hub, local communities have raised concerns about the environmental impact. xAI has relied on natural gas-burning turbines to power the facility, which emit nitrogen oxides, pollutants linked to respiratory problems. Environmental advocates claim the company may have breached the Clean Air Act by using the turbines without proper permits.Musk also warned that power supply could soon become the biggest hurdle in AI development. 'I think the limitation will move from chips to electrical equipment, and then there will be a fundamental electricity generation shortage,' he said, predicting this could happen as soon as mid-2026.Commenting on the global race in AI, Musk noted that while China is currently ahead in power generation investment, the US still leads in innovation. 'To have breakthrough innovation you have to question authority,' he said.Tune In
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Time of India
42 minutes ago
- Time of India
AI is empowering chartered accountants, says ICAI president
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Time of India
an hour ago
- Time of India
Toll on SP Ring Road to be revised
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Time of India
an hour ago
- Time of India
Punjab & Haryana high court denies relief to reconstruction company in perjury case
Patiala: In a significant development, the Punjab and Haryana high court declined to grant interim relief to an asset reconstruction company in a writ petition seeking to quash perjury proceedings initiated against it. The case, filed by veteran journalist Kanwar Manjit Singh, also includes a Rs 5-crore defamation claim, accusing the company of reputational damage and unlawful actions. On July 14, the high court, while disposing of the petition, refused to stay or quash the perjury complaint currently before the district magistrate, Patiala. Instead, the court directed the district magistrate to consider the matter "strictly in accordance with law", allowing EARC a chance to be heard, but enabling the perjury proceedings to continue. The complaint followed alleged forcible and unlawful possession of K M Singh's business premises — located at Focal Point, Patiala — in July 2024. Kanwar Manjit claimed that the possession was carried out in gross violation of the SARFAESI Act and due legal process. He accused the company and its senior officers, including group chairman and other officials, of submitting forged documents and false affidavits before multiple forums such as the high court, district magistrate, local courts, and the debt recovery tribunal (DRT) in Chandigarh. In a legal notice issued earlier, K M Singh demanded Rs 5 crore in damages from the company, its group chairman, and others, citing defamation, reputational harm, and business losses. He also sought an unconditional apology and immediate return of all assets allegedly removed during the controversial possession. According to K M Singh, the possession drive was executed in full public view and involved unauthorised participation of govt officials and police. Loud public announcements and forced entry were made in front of the staff, neighbours, and media, portraying him as a loan defaulter. Singh claimed that this not only damaged his reputation but also resulted in unlawful seizure of valuable assets, including cash, manuscripts, business documents, digital archives, and rare books, worth over Rs 50 crore. A similar incident in June 2022 was cited in the legal notice, where the said company's recovery agent allegedly entered K M Singh's premises in violation of a stay order, leading to verbal abuse and manhandling. Despite repeated representations to the company's top management, K M Singh said no corrective action was taken, reflecting what he described as an "institutional disregard for law and ethics". Alongside the ongoing perjury complaint, Kanwar also filed a separate case under Section 17 of the SARFAESI Act, currently under adjudication by the DRT-III in Chandigarh. Additionally, a complaint concerning the role of certain govt officials during the possession is under review by the Punjab vigilance bureau. Reacting to the high court's order, K M Singh said: "These actions were not just legally untenable but clearly aimed at public humiliation and destroying my reputation. The company even approached the high court to block the perjury proceedings, but the court refused to grant them any relief and allowed the process to continue. This legal battle is not just about my rights but also about resisting the misuse of power by financial entities that trample upon citizens' dignity and due process. " With the high court declining to interfere, the spotlight now shifts to the district magistrate, Patiala, who has been tasked with deciding the perjury complaint on its legal merits. Meanwhile, the defamation notice and associated demands by K M Singh continue to mount pressure on the company and its leadership. MSID:: 122767795 413 |
