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. The move aims to align policy timelines with the long development cycles of science- and engineering-led businesses. In other tech news, NBA star Giannis Antetokounmpo invested in prediction market Kalshi, and New York lawmakers proposed a moratorium on new data centers.
The Indian government's changes to startup regulations, as reported by TechCrunch, also included mobilizing public capital to support deep tech ventures in sectors like space, semiconductors, and biotech. The previous revenue threshold for startup benefits was 1 billion rupees (around $11.04 million). This adjustment is part of India's effort to foster long-term growth in the tech sector.
Meanwhile, NBA star Giannis Antetokounmpo announced his investment in prediction market Kalshi, becoming the first NBA player to directly invest in the company, according to TechCrunch. "The internet is full of opinions. I decided it was time to make some of my own," Antetokounmpo said in a social media post. However, the announcement sparked controversy online, with some users on Reddit expressing concerns about potential conflicts of interest. The NBA's 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 betting.
In New York, lawmakers introduced a bill proposing a minimum three-year moratorium on permits for new data centers, TechCrunch reported. This follows concerns from both Democrats and Republicans about the potential impact of data centers on surrounding communities, including increased home electricity bills. New York is at least the sixth state considering a pause on new data center construction.
In other financial news, AI chipmaker Cerebras Systems raised $1 billion in fresh capital at a $23 billion valuation, nearly tripling its valuation in six months, according to TechCrunch. Benchmark Capital, an early investor, contributed at least $225 million to the latest round. The firm first invested in Cerebras in 2016, leading the startup's $27 million Series A round.
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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