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In a major move towards AI self-reliance, India aims to launch its own AI foundational model in 10 months, with plans to host Chinese LLM platform DeepSeek on local servers, addressing privacy concerns. In tech earnings, Microsoft shares fell by 6% after a slowdown in cloud growth, while Meta Platforms exceeded expectations, buoyed by strong AI prospects.
Tesla shares surged by 4% despite missing revenue targets, with hopes for growth in 2025.On regulatory news, SEBI has tightened its stance on finfluencers, introducing penalties for non-compliance. A tragic incident occurred when an American Airlines jet collided mid-air with a US Army helicopter, potentially leaving no survivors.
Finally, the US economy grew at 2.3% in Q4, slower than expected, signaling a potential delay in Fed rate cuts despite strong demand.
Stay tuned for more updates!
Sensex Today | Stock Market Highlights: Indices end largely higher, Nifty 50 gains for third straight day
The stock market ended largely higher on Wednesday, with the Nifty extending its winning streak for the third consecutive session. Bharat Electronics Ltd (BEL) emerged as the top gainer on the Nifty. Dabur also saw a positive reaction after the company indicated that the urban market had bottomed out, with its stock closing at the day’s high.
Budget 2025: Driving consumption & growth likely to be major focus areas
Ahead of Budget 2025, government has received feedback about the need to put more consumption power in the hands of the middle class, support MSME’s and manufacturing.
US economy slows in Q4, but strong demand may delay Fed rate cuts
The US economy expanded at a 2.3% annualised rate in the fourth quarter, slowing from a 3.1% pace in the July-September period, according to an advance estimate from the Commerce Department’s Bureau of Economic Analysis.
The figure fell short of Rueters economists’ forecasts, which had projected growth of 2.6%. Estimates had ranged from 1.7% to 3.2%.
India’s AI foundational model to be ready in 10 months, says Ashwini Vaishnaw
India is taking a major step towards AI self-reliance, with the government announcing plans to develop its own AI foundational model, similar to ChatGPT, Gemini, and DeepSeek.
Speaking at a press conference on the India AI Mission, Union Minister of Electronics and IT Ashwini Vaishnaw confirmed that the country’s large language model (LLM) will be ready within 10 months.
“We have created the framework, and it is being launched today. Our focus is on building AI models that maintain the Indian context and culture,” Vaishnaw stated.
India wants Deepseek but hosted on its own servers: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw announced that India will soon host DeepSeek, an AI-powered chatbot, on Indian servers. Speaking at the press conference for the India AI Mission, Vaishnaw mentioned the advantages of hosting DeepSeek locally, addressing growing concerns over privacy when using AI tools like the popular ChatGPT rival.
“We will soon host DeepSeek on Indian servers. This will not only address privacy concerns but also ensure better control over the data used in AI models,” Vaishnaw stated.
Microsoft shares fall 6% afterhours as Azure, other cloud business growth slows
Microsoft Corp. shares fell as much as 6% in extended trading despite its quarterly results coming in ahead of what analysts had anticipated.
Revenue for the quarter stood at $69.63 billion, while analysts were working with a $68.78 billion figure. Earnings Per Share (EPS) also stood at $3.23, well above the consensus expectation of $3.11.
However, revenue growth of 12.3% year-on-year was the slowest in nearly two years, something that analysts were fearing not just for Satya Nadella-led enterprise, but for the entire “magnificent seven” group of shares.”
Insurers Need IRDAI Nod To Hike Premium By Over 10% For Senior Citizens
The Insurance Regulatory and Development Authority of India (IRDAI) has issued new guidelines requiring insurers to seek approval before increasing health insurance premiums for senior citizens by more than 10%.
Meta Platforms results beat estimates; Zuckerberg predicts ‘really big year’ in AI
Shares of Meta Platforms gained in extended trading on Wednesday but came off the highs despite a fourth quarter earnings beat and CEO Mark Zuckerberg predicting a “really big year” for AI.
Revenue for the quarter stood at $48.39 billion, which easily surpassed analyst estimates of $47.04 billion. Its Earnings Per Share (EPS) also beat estimates of $6.77 with a $8.02 figure. Sales were up 21% from the same quarter last year.
Tesla shares surged in extended trading despite earnings miss; Here’s why
Elon Musk-owned Tesla Inc. shares rallied as much as 4% in extended trading on Wednesday despite the company reporting a disappointing quarter on both revenue and the profit front. After the initial drop, shares recovered after the management promised growth to return in 2025.
Tesla reported $25.71 billion in revenue for the fourth quarter, a growth of just 2% from the same quarter last year. Analysts were working with a figure of $27.26 billion. Its adjusted Earnings Per Share (EPS) stood at $0.73, again lower than the $0.76 consensus estimate of analysts.
SEBI says registered entities can’t associate with finfluencers; Penalty if rules are violated
Market regulator SEBI releases clarifications that tighten the noose on association of SEBI-registered entities with finfluencers. Violation could lead to penalty, suspension/cancellation of registration, debarment.
American Airlines crash in Washington: No survivors expected in midair collision with Army helicopter
Authorities have confirmed that no survivors are expected after an American Airlines passenger jet and a US Army Black Hawk helicopter crashed into the frigid Potomac River after a midair collision near Reagan Washington National Airport on Wednesday.
The American Airlines jet, which had departed from Wichita, Kansas, was carrying 60 passengers and four crew members. The military helicopter had three US Army soldiers on board.
Delhi Elections 2025 | Manish Sisodia & Delhi CM Atishi Exclusive
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