All the important news from the ongoing India AI Impact Summit

With an oculus towards luring much AI concern to the country, India is hosting a four-day AI Impact Summit this week that volition beryllium attended by executives from large AI labs and Big Tech, including OpenAI, Anthropic, Nvidia, Microsoft, Google, and Cloudflare, arsenic good arsenic heads of state.

The event, which expects 250,000 visitors, volition spot Alphabet CEO Sundar Pichai, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei, Reliance Chairman Mukesh Ambani, and Google DeepMind CEO Demis Hassabis successful attendance.

India’s premier minister, Narendra Modi, is scheduled to present a code with French President Emmanuel Macron connected Thursday.

Here are each the cardinal updates from the event:

• India earmarks $1.1 cardinal for its state-backed task superior fund. The money volition put successful artificial quality and precocious manufacturing startups crossed the country.
• OpenAI CEO Sam Altman said India accounts for much than 100 cardinal play progressive ChatGPT users, 2nd lone to the U.S. He besides said Indians besides relationship for the astir students utilizing ChatGPT.
• Blackstone has picked up a bulk involvement successful Indian AI startup Neysa arsenic portion of a $600 cardinal equity fundraise. Teachers’ Venture Growth, TVS Capital, 360 ONE Asset, and Nexus Venture Partners besides invested. The institution present plans to rise different $600 cardinal successful debt, and deploy much than 20,000 GPUs.
• Bengaluru-based C2i, which is gathering a powerfulness solution for information centers, raised $15 cardinal successful a Series A circular from Peak XV, with information from Yali Deeptech and TDK Ventures.
• HCL CEO Vineet Nayyar said Indian IT companies will absorption connected turning profits and not being occupation creators. These comments travel arsenic Indian IT stocks dip arsenic fears of AI disrupting the IT services assemblage burgeon.
• AMD is teaming up with Tata Consultancy Services (TCS) to develop rack-scale AI infrastructure based connected AMD’s “Helios” platform.