India adjusted its startup rules this week, extending the period for deep tech companies to be treated as startups to 20 years and raising the revenue threshold for specific benefits to 3 billion rupees (about $33.12 million), according to TechCrunch. This move aims to support the longer development cycles typical of science- and engineering-led businesses. In other tech news, NBA star Giannis Antetokounmpo invested in prediction market Kalshi, while New York lawmakers proposed a moratorium on new data centers.
The Indian government's changes to its startup framework also included mobilizing public capital, hoping to help more deep tech companies reach commercial products, according to TechCrunch. The previous revenue threshold for startup-specific tax, grant, and regulatory benefits was 1 billion rupees (around $11.04 million).
Meanwhile, NBA star Giannis Antetokounmpo announced Friday that he had joined prediction market Kalshi as a shareholder, making him the first NBA player to invest directly in the company, according to TechCrunch. "The internet is full of opinions. I decided it was time to make some of my own," the two-time NBA MVP said in a social media post. However, the announcement was met with criticism on social media, with some users raising concerns about potential conflicts of interest. The NBAs recent collective bargaining agreement allows players to advertise and take stakes of up to 1% in sports betting companies, as long as they are not directly involved in the betting operations, according to The Athletic.
In New York, state lawmakers introduced a bill that would impose a moratorium of at least three years on permits for the construction and operation of new data centers, according to TechCrunch. This follows concerns from both Democrats and Republicans about the impact of data centers on surrounding communities, including increased home electricity bills. New York is at least the sixth state to consider pausing construction of new data centers, according to Wired.
In other financial news, AI chipmaker Cerebras Systems announced it raised $1 billion in fresh capital at a valuation of $23 billion, nearly tripling its valuation in just six months. Benchmark Capital, one of Cerebras' earliest backers, invested at least $225 million in the latest round, according to a person familiar with the deal, reported TechCrunch. Benchmark first invested in Cerebras when it led the startup's $27 million Series A in 2016.
Finally, the Super Bowl, held in Silicon Valley this Sunday, is expected to be attended by numerous tech figures, including YouTube CEO Neal Mohan and Apple's Tim Cook, according to TechCrunch. Longtime VC Venky Ganesan from Menlo Ventures commented on the event, saying it was "tech billionaires who got picked last in gym class paying 50,000 to pretend they're friends with the guys who got picked first."
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