Additionally on this letter:
■ Reality Social’s market debut
■ WhatsApp raises OTP charges in India
■ Societies that startup stars name residence
Google, Amazon, Microsoft paying Rs 1 lakh stipends for internships
An rising variety of undergraduate engineering college students have secured internships, with month-to-month stipends of Rs 1 lakh or extra from firms like Amazon, Google, Intuit India, Microsoft, Palo Alto Networks and Goldman Sachs.
What’s in demand? These internships, which might final for 3-6 months, are a golden ticket to full-time roles in high-demand fields like information science, cloud computing and analytics.
The supply: At IIT Mandi, 27 college students have obtained stipends of Rs 1 lakh or extra this 12 months. In Bengaluru, RV Faculty of Engineering has seen 39 college students getting over Rs 1 lakh in month-to-month stipends in comparison with 8 final 12 months. Round 30 college students at Vellore Institute of Know-how have additionally bagged Rs 1-lakh stipends, with firms like Couchbase and Amazon providing Rs 1.2 lakh and Rs 1.1 lakh, respectively.
Who’s providing what: Professor Ranganath D, RV Faculty of Engineering’s dean of placement, mentioned Amazon, UiPath, and Microsoft have supplied stipends as much as Rs 1.4 lakh for numerous tech roles. Equally, Walmart, Goldman Sachs, and Palo Alto have supplied Rs 1-lakh stipends.
Excessive conversion fee: Himani Sood, pro-chancellor at Chandigarh College, mentioned firms like Atlassian, Uber, and Google have additionally supplied stipends of Rs 1 lakh. Sood identified a excessive conversion from internships to full-time positions, with high tech companies in India providing annual compensation between Rs 40 lakh to Rs 65 lakh, and worldwide roles reaching as much as Rs 1 crore.
Google in talks to purchase plot in Navi Mumbai for maiden India captive information centre
Alphabet’s Google is in superior talks to purchase a 22.5-acre land parcel in Navi Mumbai’s Juinagar to determine its first captive information centre in India, individuals within the know instructed ET. This comes as India is working to construct its personal compute capability.
Google’s first: Google and its tech friends Microsoft and Amazon are establishing hyperscale information centres in India to benefit from this market, which is on a digitalisation excessive after the Covid-19 pandemic. Whereas the search engine main has struck some offers to lease house at colocation information centres in Navi Mumbai and Noida, this would be the first information centre to be developed by the corporate.
Finer particulars: California-headquartered Google is at present doing due diligence for the leasehold land parcel owned by the Maharashtra Industrial Growth Company (MIDC). The deal is prone to be price round Rs 850 crore, relying on present property charges within the space and MIDC’s switch costs, sources added.
“The proposed captive information centre could have a capability of a few hundred megawatts given the massive dimension of the land parcel,” one of many individuals cited above instructed ET.
Additionally learn | Union Cupboard approves Rs 10,372-crore India AI mission
Knowledge centre development: ET has been reporting that the compute infrastructure within the nation is due for a significant improve with web utilization rising greater than ever earlier than.
ET reported earlier this week a digital public infrastructure (DPI) to create a community of interoperable information centres within the nation is taking form, with Oracle and one other AI infrastructure firm NeevCloud set to hitch the community.
Additionally learn | Small-town edge: How 5G, OTT is driving demand for information centres past large cities
Donald Trump’s Reality Social soars on market debut: all you must know
Donald Trump’s social media firm Reality Social noticed its shares soar about 16% on the primary day of itemizing on Nasdaq. The previous US president holds an almost 60% stake within the firm, which is now price $4.9 billion on paper.
What’s the information? Shares of Trump Media and Know-how Group closed at $57.9, up 16.1%, giving the corporate a market worth of $7.8 billion.
Trump Media, the dad or mum firm of Reality Social, efficiently listed on the Nasdaq following its merger with Digital World Acquisition Corp, subsequently changing Digital World on the inventory trade.
Investor frenzy: A good portion of shareholders in Trump Media consists of small-scale traders who’re both displaying their help for Trump or looking for to capitalise on the joy, versus giant institutional or skilled traders, AP reported.
Additionally learn | Reddit soars after NYSE debut: listed here are high issues to know
Financials: Regardless of its bumper itemizing, traders are cautious as a result of Reality Social, launched in 2022 by Trump after he was banned from main social media apps like Fb and Twitter (now X), doesn’t have spectacular numbers.
The social media firm misplaced $10.6 million from its operations within the first 9 months of 2023 on income of $3.4 million. It has been funding itself by borrowing $40.7 million by way of convertible promissory notes that may be paid again in inventory.
In keeping with estimates, Reality Social had roughly 5 million energetic cellular and internet customers in February, lagging far behind TikTok’s greater than 2 billion and Fb’s 3 billion.
Additionally learn | Trump’s micro-blogging platform Reality Social loses $73 million since launch
WhatsApp ends international firms’ cheap-OTP run
Messaging software WhatsApp has launched a brand new class for worldwide OTPs (one-time passwords). To extend income from such providers, it has priced enterprise messages in India at 20 occasions its earlier fee.
New class: Final week, WhatsApp launched a brand new class known as ‘authentication-international’ messages priced at Rs 2.3 per message for the home market. The brand new class is relevant in India and Indonesia beginning June 1, an replace on its web site confirmed.
Sure, however: Regardless of the sharp improve, the pricing for India continues to be half of what enterprises pay for standard SMSes, as WhatsApp tries to draw extra enterprises to this rising phase.
The transfer is prone to considerably influence communication budgets of worldwide companies like Amazon, Google and Microsoft who had been difficult unfairly excessive charges for worldwide SMSes in India and had began counting on WhatsApp as a substitute, say specialists.
Professional take: “Many giant overseas firms have began utilizing WhatsApp as their major authentication medium due to excessive worth arbitrage between home and worldwide SMS charges,” mentioned Aniketh Jain, founding father of buyer communications startup Fyno.
Know thy context: Telecom firms at present cost Rs 0.12 per SMS for native firms versus $ 0.05 (or Rs 4.13) for abroad ones. This huge arbitrage created a possibility for WhatsApp to peg its OTP supply costs at Rs 0.11 for all enterprises alike. With the brand new system, nevertheless, WhatsApp shall be charging overseas firms at Rs 2.3 per message.
Additionally learn | Google pushing a substitute for WhatsApp enterprise messaging
Whale tank: Upscale societies the place tech, startup czars keep linked
Altamount Street, the South Bombay Billionaires’ Row that’s residence to Reliance group boss Mukesh Ambani, seems to have firm in different Indian metros akin to Bengaluru and Delhi-NCR, for the uber-rich tech and startup czars to remain linked and community with each other.
The place the wealthy stay: In Bengaluru, homes in Billionaires’ Avenue (Koramangala), Epsilon Villas or Adarsh Palm Retreat (APR) are owned by the likes of Flipkart cofounders Sachin and Binny Bansal and its CEO Kalyan Krishnamurthy, together with a couple of Infosys cofounders and the Raveendrans of Bjyu’s.
The homeowners of a number of new-age firms akin to Unacademy’s Gaurav Munjal, PhonePe’s Sameer Nigam, Meesho’s Vidit Aatrey, the Zetwerk founders dot the palm tree – and Mercedes-lined – APR.
‘Community impact’: There’s a ‘community impact’ that pulls increasingly such people as these communities begin build up, Sandeep Reddy, cofounder of actual property gross sales digital platform Zapkey, instructed ET.
In the present day’s ETtech High 5 publication was curated by Erick Massey in New Delhi and Vaibhavi Khanwalkar in Bengaluru.
