Cognizant eyes Sarvam stake; Ather aims for higher market share
Happy Wednesday! Cognizant has held discussions to invest in homegrown AI startup Sarvam. This and more in today’s ETtech Morning Dispatch.
Cognizant is considering an investment stake in Indian AI startup Sarvam, which sources say could be valued at between $3.5 and $4 billion after the latest financing round. The enterprise AI provider is expanding its capabilities in AI model development and computing infrastructure to compete with global giants like OpenAI, Google, and Anthropic.
Cognizant, with a market capitalization of approximately $31 billion and down 25% from its 2022 peak, is seeking investment and acquisition opportunities to become a platform-led, outcome-focused company in the AI era. Meanwhile, Indian AI startup Simplismart has raised $14 million in a round led by Dallas Venture Capital and participation from Nvidia.
The Bengaluru-based AI firm has seen a 14x growth in its annualized revenue run rate over the past six months and reached an eight-figure annualized revenue run rate. Ather Energy, the electric two-wheeler maker, aims to achieve a market share of at least 20% in the near term by expanding manufacturing capacity and restarting dealership additions to meet high demand.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
