GalaxEye buys StarOps; Info Edge’s net profit up 43%
StarOps was incorporated in 2022 and traces its origins to TeamIndus, an early Indian private space venture.
In the rapidly expanding AI sector, chip producers are experiencing unprecedented growth. Taiwan Semiconductor Manufacturing Co (TSMC) disclosed a revenue of 467.58 billion new Taiwan dollars ($14.5 billion) for July, marking a 44.7% increase year-on-year. Reflecting the demand in the broader tech industry, TSMC manufactures chips for prominent tech firms like NVIDIA and Google.
Meta is aiming to challenge leading AI labs such as OpenAI and Anthropic by releasing open-source models and developing new ones tailored for consumer devices. CEO Mark Zuckerberg has advocated for reduced US barriers to open-source AI to intensify competition against Chinese counterparts.
Meanwhile, the cybersecurity landscape is evolving as firms strive to safeguard public privacy. NoRecognition, a company specializing in mitigating AI-powered surveillance, has developed computer-generated adversarial patterns that, when printed on clothing, can disrupt detection algorithms utilized by surveillance systems.
Today's newsletter highlights GalaxEye's acquisition of StarOps, a spacetech startup, to broaden satellite engineering capabilities. GalaxEye, a Bengaluru-based company, has integrated StarOps' spacecraft engineering team, satellite bus platforms, and indigenous subsystem technologies into its operations. This acquisition is especially pertinent to GalaxEye, as it plans to develop Earth Observation (EO) satellites utilizing its OptoSAR technology.
EO is increasingly becoming a crucial aspect of GalaxEye's expansion strategy. The Indian government has approved a public-private partnership, led by Pixxel, Dhruva Space, SatSure Analytics India, and Piersight Space, to establish an EO satellite constellation.
On the corporate front, Info Edge, the parent company of job portal Naukri and real estate platform 99acres, reported a 43% surge in net profit for the first quarter of FY27, while revenue grew by 11.4%. Naukri's top-line increased by 12% year-on-year, with the recruitment business generating Rs 630 crore. However, 99acres incurred a loss of Rs 2.13 crore.
CEO Hitesh Oberoi attributed Naukri's growth to an improvement in enterprise hiring. In other news, Intel plans to raise $15 billion through a share sale to finance the development of its chip contract manufacturing business, as it faces increasing competition from new players in the industry.
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