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 (approximately $33.12 million), according to TechCrunch. This move aims to align policy timelines with 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. Additionally, venture capital firm Benchmark raised $225 million in special funds to invest in AI chipmaker Cerebras.
The Indian government's change to startup regulations, as reported by TechCrunch, is designed to support deep tech startups in sectors like space, semiconductors, and biotech, which often require more time to mature. The previous revenue threshold was 1 billion rupees (around $11.04 million). This adjustment is part of a broader effort by New Delhi to foster long-term growth in the technology sector.
In the sports and finance world, Milwaukee Bucks star Giannis Antetokounmpo announced his investment in Kalshi, a prediction market. This makes him the first NBA player to directly invest in the company, according to TechCrunch. Antetokounmpo stated on social media, "I decided it was time to make some of my own. Today, Im joining Kalshi as a shareholder." However, the announcement sparked controversy online, with some users 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.
Meanwhile, New York state lawmakers introduced a bill proposing a minimum three-year moratorium on permits for new data centers, as reported by TechCrunch. This follows concerns from both Democrats and Republicans regarding the potential impact of data centers on local communities, particularly as tech companies invest heavily in AI infrastructure. Wired reports that New York is at least the sixth state to consider pausing construction of new data centers.
In the realm of venture capital, Benchmark raised $225 million in special funds to further invest in AI chipmaker Cerebras Systems, according to TechCrunch. Cerebras recently announced it raised $1 billion in fresh capital, reaching a valuation of $23 billion. Benchmark initially 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. Venky Ganesan from Menlo Ventures commented on the event, stating that it represents "tech billionaires who got picked last in gym class paying 50,000 to pretend theyre friends with the guys who got picked first." Ganesan added, "And for the record, I, too, was picked last in gym class."
Discussion
AI Experts & Community
Be the first to comment