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 typical of science- and engineering-led businesses. In other tech news, NBA star Giannis Antetokounmpo invested in prediction market Kalshi, New York lawmakers proposed a pause on new data centers, and Benchmark raised $225 million to further invest in AI chipmaker Cerebras.
The Indian government’s changes to startup rules are part of an effort to build a long-horizon development ecosystem, according to TechCrunch. The adjustments specifically target deep tech startups in sectors like space, semiconductors, and biotech, which often require longer periods to mature than conventional ventures. 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, becoming 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," Antetokounmpo said in a social media post. The announcement sparked some 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 the league.
In New York, lawmakers introduced a bill that would impose a moratorium of at least three years on permits for new data centers, TechCrunch reported. The bill's prospects are uncertain, but New York is at least the sixth state considering a pause on data center construction. Both Democrats and Republicans have expressed concerns about the impact of data centers on surrounding communities as tech companies plan to spend increasing amounts on AI infrastructure. Studies have linked data centers to increased home electricity bills.
Finally, AI chipmaker Cerebras Systems announced it raised $1 billion in fresh capital at a valuation of $23 billion, a nearly threefold increase from its $8.1 billion valuation just six months prior, according to TechCrunch. Benchmark Capital, one of the company's earliest backers, invested at least $225 million in the latest round. The firm first invested in Cerebras in 2016, leading the startup's $27 million Series A.
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