GalaxEye buys StarOps; Info Edge’s net profit up 43%

Hello,

The booming AI industry is taking chip manufacturers to new heights. Taiwan Semiconductor Manufacturing Co (TSMC) on Monday reported revenue at 467.58 billion new Taiwan dollars ($14.5 billion) for July, up 44.7% year-on-year.

TSMC makes chips for Big Tech customers such as NVIDIA and Google, meaning its financial data reflects the demand in the larger tech world.

Speaking of Big Tech, Meta hopes to rival leading labs like OpenAI and Anthropic by open sourcing its AI models and launching new ones designed for consumer devices. CEO Mark Zuckerberg has called for lower US barriers for open-source AI to better compete with Chinese rivals, Reuters reported.

Even as the race for AI domination heats up in the tech sector, some cybersecurity professionals are working on securing privacy for the general public. Case in point: noRecognition, a firm that promises to help people escape AI-powered surveillance. Per an article in TechCrunch, founder Bill Swearingen has developed computer-generated "adversarial" patterns, which when printed on clothes can scramble detection algorithms deployed by surveillance systems. 

In today’s newsletter, we will talk about 

• GalaxEye buys StarOps 
• Info Edge’s net profit up 43%

Here’s your trivia for today: What is the term for the space between eyebrows?

Mergers and acquisitions

GalaxEye expands satellite engineering with StarOps acquisition

Spacetech startup GalaxEye has acquired StarOps to bring more of the satellite development process under one roof.

The acquisition brings Bengaluru-based StarOps’ spacecraft engineering team, satellite bus platforms, and indigenous subsystem technologies into GalaxEye, which is developing Earth Observation (EO) satellites using its OptoSAR technology.

Key takeaways:

• StarOps was incorporated in 2022 and traces its origins to TeamIndus, an early Indian private space venture.
• For GalaxEye, the connection is particularly relevant because its planned EO systems combine synthetic aperture radar (SAR), with optical imaging.
• EO is emerging as an important part of this expansion. The government has approved a public-private partnership led by Pixxel, alongside Dhruva Space, SatSure Analytics India and Piersight Space, to establish an EO satellite constellation.

News

Info Edge’s net profit up 43%

Info Edge, the parent company of jobs portal Naukri and real estate platform 99acres, registered a 43% rise in net profit for the first quarter of FY27 while revenue was up 11.4%.

Info Edge reported a consolidated net profit of Rs 490 crore for the first quarter of FY27 as compared to Rs 343 crore registered in the same period a year ago.

Key takeaways:

• Info Edge’s largest revenue contributor was  its recruitment business: Naukri, which saw a topline growth at Rs 630 crore, a 12% year-on-year growth.
• However, the gross profitability numbers diverged for both businesses as Naukri reported a profit of Rs 353 crore while for 99acres it was a loss of Rs 2.13 crore.
• An improvement in enterprise hiring supported Naukri’s growth, Info Edge CEO Hitesh Oberoi said. 

News & updates

• Share sale: Intel hopes to catch the AI chips train. The once dominant force in the chip industry, Intel, has been facing competition from new players. The company has now said it plans to raise $15 billion through a share ​sale, as it looks to fund the costly build-out of its ‌chip contract manufacturing business.
• Global warming: Oceans across the world hit their hottest ever recorded temperatures in July, according to the EU's climate monitoring service. The increase was partly due to El Niño conditions in the Pacific. 

What is the term for the space between eyebrows?

Answer: Glabella

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