Latest news with #AkashSriram
Time of India
a day ago
- Business
- Time of India
Perplexity in talks with phone makers to pre-install Comet AI mobile browser on devices
By Akash Sriram Nvidia-backed Perplexity AI , the startup challenging Google with its AI-powered search engine , is in discussions with mobile device makers to pre-install its new Comet browser on smartphones, CEO Aravind Srinivas told Reuters on Friday. The move could significantly boost Perplexity's reach by capitalizing on browser "stickiness", where users tend to stick with browser apps that are pre-installed or set as default on their devices, potentially driving habitual use of the company's AI tools. "It's not easy to convince mobile OEMs to change the default browser to Comet from Chrome," Srinivas said, referring to original equipment manufacturers and highlighting the challenge of user inertia on mobile platforms. Comet, currently in beta and available only on desktops, integrates Perplexity's AI directly into web browsing, allowing users to ask questions about personal data like emails, calendars, or browsing history, and even perform tasks such as scheduling meetings or summarizing webpages. Perplexity aims to target "tens to hundreds of millions" of users next year after stabilizing the desktop version for a few hundred thousand initial testers, Srinivas said. Its efforts reflect a broader industry shift toward browsers with agentic AI capabilities , ones that need minimal human intervention to make decisions and achieve specific tasks. Reuters reported earlier this month that OpenAI is developing its own agentic AI browser, which could automate complex tasks such as booking travel or managing finances. As of last month, Google's Chrome had a market share of about 70% in mobile devices, while Apple 's Safari and Samsung's browsers together commanding another 24%, according to Statcounter data. Bloomberg News reported in June that Perplexity was in talks with Samsung Electronics and Apple to integrate its AI search capabilities into their devices, potentially enhancing assistants like Bixby or Siri. Perplexity has completed a $500 million investment round, which valued it at $14 billion earlier this year. Its investors include Accel, Nvidia , Jeff Bezos and former Google CEO Eric Schmidt.
Time of India
6 days ago
- Business
- Time of India
Strong US defense spending draws investors to space startups, report says
By Jaspreet Singh and Akash Sriram Space startups continued to draw investor dollars in the April-June period, making it the second strongest quarter on record for funding, as increased U.S. defense spending is expected to boost the sector's prospects, an industry report showed on Monday. Global investments in startups, ranging from early stage to growth stage, surged to $3.1 billion in the quarter ended June 30 from $2 billion in the first three months of the year, according to VC firm Seraphim Space's report. Notably, Series B and C funding rounds accounted for a record 65% of total investment, signaling strong investor conviction in scaling early-growth space ventures. Concerns over potential spending cuts under the Trump administration have done little to dampen funding momentum, as major defense initiatives - most notably the Golden Dome missile defense program - fuel investment and bolster optimism across the sector. "Given today's geopolitical climate, the pull from defense is strong, and founders are responding," Seraphim Space investment analyst Lucas Bishop said. Much of this momentum is being driven by capital-intensive areas such as rocket launches, space infrastructure, and satellite manufacturing and operations, Seraphim Space said in its report. The $175 billion Golden Dome missile defense shield initiative by the U.S. also drove investor optimism in the space sector, spurring new deals and partnerships among leading companies, according to the report. "More investors now see national security as a viable end market, with government customers offering early adoption pathways, non-dilutive funding, and R&D support - advantages rarely found in commercial markets," Seraphim Space's Bishop said. Globally, the number of deals in the second quarter grew about 36% to 171, compared with the first quarter, the report showed. U.S.-based Impulse Space, which designs, manufactures, and operates in-space transportation vehicles, raised $300 million in a Series C round, making it the biggest deal of the second quarter.
Yahoo
6 days ago
- Business
- Yahoo
Strong US defense spending draws investors to space startups, report says
By Jaspreet Singh and Akash Sriram (Reuters) -Space startups continued to draw investor dollars in the April-June period, making it the second strongest quarter on record for funding, as increased U.S. defense spending is expected to boost the sector's prospects, an industry report showed on Monday. Global investments in startups, ranging from early stage to growth stage, surged to $3.1 billion in the quarter ended June 30 from $2 billion in the first three months of the year, according to VC firm Seraphim Space's report. Notably, Series B and C funding rounds accounted for a record 65% of total investment, signaling strong investor conviction in scaling early-growth space ventures. Concerns over potential spending cuts under the Trump administration have done little to dampen funding momentum, as major defense initiatives - most notably the Golden Dome missile defense program - fuel investment and bolster optimism across the sector. "Given today's geopolitical climate, the pull from defense is strong, and founders are responding," Seraphim Space investment analyst Lucas Bishop said. Much of this momentum is being driven by capital-intensive areas such as rocket launches, space infrastructure, and satellite manufacturing and operations, Seraphim Space said in its report. The $175 billion Golden Dome missile defense shield initiative by the U.S. also drove investor optimism in the space sector, spurring new deals and partnerships among leading companies, according to the report. "More investors now see national security as a viable end market, with government customers offering early adoption pathways, non-dilutive funding, and R&D support - advantages rarely found in commercial markets," Seraphim Space's Bishop said. Globally, the number of deals in the second quarter grew about 36% to 171, compared with the first quarter, the report showed. U.S.-based Impulse Space, which designs, manufactures, and operates in‑space transportation vehicles, raised $300 million in a Series C round, making it the biggest deal of the second quarter.
Mint
01-07-2025
- Automotive
- Mint
Tesla quarterly deliveries seen falling again
Q2 Tesla deliveries seen falling 11% y-o-y on average Demand weak in Europe, China amid competition, Musk backlash Analysts expect sales to fall 8% in 2025 By Akash Sriram and Abhirup Roy July 1 (Reuters) - Tesla is expected to report another fall in quarterly deliveries on Wednesday as the backlash against CEO Elon Musk's political views and competitive pressures continue to drag on demand. While much of Tesla's trillion-dollar valuation hangs on Musk's bet on commercializing robotaxis, most of the company's current revenue and profits come from its core business of selling electric vehicles - one that has been under pressure due to high interest rates and rising competition. The global EV market has been growing, albeit at a slower pace than in previous years, but annual sales of Tesla's aging lineup fell for the first time in 2024. While Musk has said sales will return to growth in 2025 - a pullback from his earlier promise of 20-30% growth - analysts expect an 8% sales decline this year. For the second quarter ended June, Tesla is expected to deliver 394,380 units, according to 23 analysts polled by Visible Alpha. That would be a drop of more than 11% year-over-year, and would follow a 13% decline the company reported in the previous quarter. Tesla has said the fall last quarter was due to a pause in production to shift to a refreshed version of its best-selling Model Y SUV, and analysts had said many customers were delaying purchases as they waited for it to roll out. "I think a lot of analysts were thinking this quarter would have a bump positive because of the new Model Y," said Ross Gerber, CEO of Tesla investor Gerber Kawasaki Wealth and Investment Management. "But the new Model Y in my mind isn't such a departure from the old Model Y," he said, adding that demand for the model did not live up to expectations. Instead, people bought fewer Tesla vehicles. Some prospective buyers were irked by Musk's public embrace of far-right politics in Europe and work for U.S. President Donald Trump overseeing cuts to federal jobs and funding. Though Musk has shifted his focus back to his companies, the backlash, along with customers choosing cheaper Chinese EVs, led to the fifth straight month of falling sales for Tesla in Europe, with a 27.9% drop in May, data from the European Automobile Manufacturers Association showed. In China, Tesla's share of the EV market has fallen to 7.6% for the first five months of 2025, from 10% last year and a peak of 15% in 2020, as competitors won over consumers with snazzy, new, feature-packed EVs. Xiaomi's YU7 SUV received exceptionally strong orders hours after going on sale last week and fanned speculation that Tesla may have to cut prices to fight back. "Lagging sales in Europe compared to the rest of the EV market and the increasing competition in China are both working against Tesla going forward," said Sam Fiorani, vice president at research firm AutoForecast Solutions. To achieve Musk's target of returning to growth this year, Tesla - if those second-quarter estimates are accurate - would need to hand over more than a million units in the second half, which would be a record and a tough challenge, according to Wall Street analysts, although typically sales are stronger in the latter half. Some help could come from Tesla's planned cheaper model - expected to be a stripped down Model Y - that the company has said it will start producing by June end. Reuters reported in April it would be delayed by at least a few months. After tanking early this year amid angry anti-Musk protests, Tesla shares have regained some ground recently. Last month, the company rolled out about a dozen robotaxis in a limited part of Austin, Texas, ferrying a small group of invited fans for a nominal fee but with a safety monitor and other restrictions. (Reporting by Akash Sriram in Bengaluru and Abhirup Roy in San Francisco, Editing by Rosalba O'Brien)
Yahoo
01-07-2025
- Automotive
- Yahoo
Tesla quarterly deliveries seen falling again
By Akash Sriram and Abhirup Roy (Reuters) -Tesla is expected to report another fall in quarterly deliveries on Wednesday as the backlash against CEO Elon Musk's political views and competitive pressures continue to drag on demand. While much of Tesla's trillion-dollar valuation hangs on Musk's bet on commercializing robotaxis, most of the company's current revenue and profits come from its core business of selling electric vehicles - one that has been under pressure due to high interest rates and rising competition. The global EV market has been growing, albeit at a slower pace than in previous years, but annual sales of Tesla's aging lineup fell for the first time in 2024. While Musk has said sales will return to growth in 2025 - a pullback from his earlier promise of 20-30% growth - analysts expect an 8% sales decline this year. For the second quarter ended June, Tesla is expected to deliver 394,380 units, according to 23 analysts polled by Visible Alpha. That would be a drop of more than 11% year-over-year, and would follow a 13% decline the company reported in the previous quarter. Tesla has said the fall last quarter was due to a pause in production to shift to a refreshed version of its best-selling Model Y SUV, and analysts had said many customers were delaying purchases as they waited for it to roll out. "I think a lot of analysts were thinking this quarter would have a bump positive because of the new Model Y," said Ross Gerber, CEO of Tesla investor Gerber Kawasaki Wealth and Investment Management. "But the new Model Y in my mind isn't such a departure from the old Model Y," he said, adding that demand for the model did not live up to expectations. Instead, people bought fewer Tesla vehicles. Some prospective buyers were irked by Musk's public embrace of far-right politics in Europe and work for U.S. President Donald Trump overseeing cuts to federal jobs and funding. Though Musk has shifted his focus back to his companies, the backlash, along with customers choosing cheaper Chinese EVs, led to the fifth straight month of falling sales for Tesla in Europe, with a 27.9% drop in May, data from the European Automobile Manufacturers Association showed. In China, Tesla's share of the EV market has fallen to 7.6% for the first five months of 2025, from 10% last year and a peak of 15% in 2020, as competitors won over consumers with snazzy, new, feature-packed EVs. Xiaomi's YU7 SUV received exceptionally strong orders hours after going on sale last week and fanned speculation that Tesla may have to cut prices to fight back. "Lagging sales in Europe compared to the rest of the EV market and the increasing competition in China are both working against Tesla going forward," said Sam Fiorani, vice president at research firm AutoForecast Solutions. To achieve Musk's target of returning to growth this year, Tesla - if those second-quarter estimates are accurate - would need to hand over more than a million units in the second half, which would be a record and a tough challenge, according to Wall Street analysts, although typically sales are stronger in the latter half. Some help could come from Tesla's planned cheaper model - expected to be a stripped down Model Y - that the company has said it will start producing by June end. Reuters reported in April it would be delayed by at least a few months. After tanking early this year amid angry anti-Musk protests, Tesla shares have regained some ground recently. Last month, the company rolled out about a dozen robotaxis in a limited part of Austin, Texas, ferrying a small group of invited fans for a nominal fee but with a safety monitor and other restrictions.
