OpenAI to Continue Working With Scale After Meta Deal, CFO Says
OpenAI said it will continue working with Scale AI after Meta Platforms Inc. made a multibillion-dollar investment in the startup, as it seeks to maintain a broad ecosystem of data sources.
'We don't want to ice the ecosystem because acquisitions are going to happen,' OpenAI Chief Financial Officer Sarah Friar said at the VivaTech tech conference in Paris on Friday. 'If we ice each other out, I think we're actually going to slow the pace of innovation.'
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Entrepreneur
28 minutes ago
- Entrepreneur
The Battery Boss: Vishal Gupta, Co-Founder & CTO, MaxVolt Energy
"Tomorrow belongs to those who innovate responsibly and anticipate evolving needs," he says. For MaxVolt, that means redefining energy consumption with solutions that are efficient, intelligent, and kind to the planet. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In an industry cluttered with buzzwords and greenwashed ambition, Vishal Gupta, Co-Founder & CTO, MaxVolt Energy Industries Limited is doing the hard work: building smarter lithium batteries, rewriting the rules of energy infrastructure, and stacking up a growth story that reads more like an organisation's dream than a spreadsheet. MaxVolt is not just keeping up with India's sustainable development goals; it's designing the fast lane. The company's lithium batteries power electric vehicles, energy storage systems, medical devices, and consumer electronics, with the kind of technical muscle that makes competitors glance sideways. "We've integrated active balancer technology, a superior thermal management system, and an intelligent battery control mechanism," says Gupta, clearly proud but practical. It's this holy trinity of innovation that boosts safety, enhances longevity, and dials up the overall efficiency of their offerings. But the real kicker? Their latest showpiece—the smart lithium inverter series. These future-proof wall-mounted inverters aren't just sleek; they're battery agnostic. Whether lithium or lead, MaxVolt's inverter doesn't flinch. It's like the benchmark of power backup: smarter, leaner, and practically plug-and-play. Still, all the tech in the world won't matter if it ends up in a landfill. That's why MaxVolt is putting just as much muscle behind lithium battery recycling as they are in production. Their R&D department isn't content to follow—it's paving the way for a circular battery economy, reclaiming material value and reducing environmental fallout. "We're working to create a holistic ecosystem that includes production, usage, reuse, and recycling," Gupta explains. "It's about shaping the sustainable energy infrastructure India needs—not just today, but decades from now." Of course, the clearest sign that MaxVolt is doing something right isn't in the lab—it's in the ledger. FY 2023-24 saw revenue skyrocket by 253 per cent to INR 48.37 crore, with profits of INR 5.21 crore. And just when you think that's peak performance, MaxVolt tops itself: FY 2024-25 revenue crossed INR 107 crore. That's not growth. That's warp speed. Their impact isn't just economic. With operations now touching over 19,000 pin codes and a staff that's grown to more than 170 employees, MaxVolt is not only making clean tech accessible, but local as well. Their batteries are fueling OEMs, solar farms, EV fleets, and consumers across India, with tech robust enough for grid-scale storage but smart enough for your living room. How does a company stay relevant in a space where yesterday's cutting-edge is tomorrow's obsolete? MaxVolt's answer is deceptively simple: innovate or die. "We've built a culture of cross-functional collaboration, supported by advanced ERP systems," Gupta says. But it's the R&D division that he keeps circling back to. For Gupta, innovation isn't a quarterly goal, it's a survival trait. His team constantly tweaks, tests, and tunes in to international trends and domestic demands alike. Yet, challenges persist—and not the kind that come with a line item. India's dependence on imported lithium cells, mostly from China, could have clipped MaxVolt's ambitions early. But instead of whining about global supply chains, they did what engineers do best; they got to work. "We tackled this with in-house prototyping, strategic partnerships, and a significant R&D push," Gupta says. Their upcoming lithium battery recycling facility is a masterstroke, poised to cut import reliance and elevate lifecycle management standards across the board. So where does the road lead from here? According to Gupta, it leads through expansion. Phase 2 of MaxVolt's production plan is underway, aimed at scaling operations to over 6,000 battery packs annually. They're also gearing up to meet rising demand for ESS batteries in solar energy projects—an area Gupta says will drive high margins. "Our focus on grid-scale and distributed solar clients is setting the stage for long-term profitability," he adds. Looking further ahead, MaxVolt's playbook includes international partnerships, export-ready infrastructure, and deeper penetration into the Indian EV and solar markets. But it's not just about shipping more batteries—it's about shipping better ones. Next-gen battery tech with improved energy density and lower cost is already on the drawing board. What does Gupta see when he looks at the horizon? Responsibility—and a lot of work. "Tomorrow belongs to those who innovate responsibly and anticipate evolving needs," he says. For MaxVolt, that means redefining energy consumption with solutions that are efficient, intelligent, and kind to the planet. Factsheet: • Year of inception: 2019 • No. of employees: 170 – 200 • Revenue for FY 2024-25 – 107 cr • External funding received so far: $1.5M • Any IP developed/patented (if more than one, names and numbers): AIS 156 Compliance Certification
New York Times
2 hours ago
- New York Times
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The signing of Florian Wirtz comprises a new club-record deal for Liverpool. Wirtz will join from Bayer Leverkusen on a five-year contract. In exchange, Liverpool have agreed to pay the German club £100million ($135.9m) in guaranteed fees, with a potential £16m due in add-ons. The deal, even without those add-ons, eclipses Liverpool's previous transfer record by a distance. That record is generally seen as having been in place since January 2018, when they parted with £75m to buy Virgil van Dijk from Southampton. Advertisement In fact, the Van Dijk fee may already have been topped prior to this agreement. Darwin Nunez was signed from Benfica in June 2022 for an initial £64m that could rise to £85m. To the end of last December, according to the Portuguese side's financial disclosures, Liverpool had paid a further €10m (around £8.5m) of a potential €25m in add-ons, so any more conditions being met in the last six months could mean Nunez's transfer fee went past Van Dijk's. Either way, Wirtz's signing tops both of them, and makes him one of only a dozen or so footballers in history to command a £100m-plus fee. How, then, can his new side afford him? Wirtz's club-record arrival comes at a time when Liverpool are enjoying record revenues. They cleared £600m for the first time in 2023-24, a year in which they had to make do with Europa League football and finishing third in the Premier League. Last season, with a return to the Champions League and a twentieth domestic title secured, alongside a full season of the extended Anfield Road End being open and continued commercial growth, Liverpool should have topped £700m in turnover, a feat only previously managed by Manchester City in England. A further record in 2025-26 looks likely. The Athletic estimates Liverpool earned £181.5m through winning the Premier League and, even if they don't retain the title in 2025-26, they will still benefit from an uptick in the league's overall income. A new TV rights cycle starts this season, with the Premier League expecting to earn £12.25bn over the next three years — a 17 per cent increase on the 2022-25 cycle. Liverpool's commercial growth is well-placed to continue. August will see them begin a new kit deal with Adidas. The agreement, while incentive-based, represents a significant potential increase on the club's already lucrative arrangement with Nike. The latter secured Liverpool a base payment of £30million a season, but garnered around double that in reality. Booming revenues are all well and good but of little use if your expenditure is through the roof. Liverpool lost £57.1million pre-tax in 2023-24, the worst financial result both of the Fenway Sports Group (FSG) era and in the club's history, so are costs are swallowing their income whole? Not really. That big loss a year ago was very much out of the ordinary for a club who, across FSG's near-15 years at the helm, have broken even. In fact they've most likely done better than that: as detailed in The Athletic's BookKeeper series, published in March, we expect Liverpool to have returned to profitability in 2024-25, and healthy profitability too. Even if the club's wage bill crept up to the £400m mark — not a guarantee by any stretch, but possible once league-winning bonuses were handed out — we project Liverpool could still have booked a £30m profit. Advertisement The club are big wage-payers, as evidenced by their 2023-24 wage bill only trailing Manchester City domestically. The Athletic understands Wirtz will earn around £200,000 per week at Anfield, before any bonuses which may accrue to him. From Liverpool's perspective, inclusive of employer-related costs on top of his basic salary, Wirtz will cost them at least £12m a year to employ. Liverpool have some world-class players and pay them accordingly, but they'll benefit from the departure of Trent Alexander-Arnold, who also cost them £12m a year in employment-related costs (again before bonuses). One of the reasons the signings of Van Dijk and goalkeeper Alisson are often pointed to as examples of Liverpool not skimping on fees is they were pretty much outliers; they did spend big on the pair, but their transfer spending has generally trailed domestic rivals. At the end of 2023-24 the cost of assembling Liverpool's squad, across transfer and agent fees, was £749.4m, the seventh most expensive squad in the world but well behind Chelsea (£1.4bn), Manchester City (£1.1bn), Manchester United (£943.9m) and Arsenal (£882.4m). Correspondingly, annual amortisation costs hitting the club's books were well below domestic peers; Liverpool's amortisation bill of £114.5m last year was over £20m behind Spurs and £75m less than Chelsea. 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That's not to say that outgoings are not likely this summer. They aren't needed to satisfy Profit and Sustainability Rules (PSR) — the profitability of 2024-25 and growing revenues will ensure no issues there — but they will help balance both the squad and the books. FSG has long sought to run Liverpool sustainably and, while they can splurge this summer without fear of bankruptcy or rule-breaking, and lose a chunk of money in 2025-26 if they wish to, that doesn't mean they'll do it for the sake of it. A big money departure, likely Nunez, would be no surprise. Cash worries are different from PSR ones, but Liverpool have little concern there either. Access to funds is no problem. Even if FSG was reluctant to loan money in (something they've generally preferred to do for infrastructure spend rather than operational costs), the ownership refinanced a revolving credit facility in September last year, lifting its limit from £200m to £350m. At the end of May 2024, it had only drawn down £116m of the original £200m, so there's plenty to be dipped into if the need arises. Liverpool may not need to increase borrowings anyway. Operating cash flow was positive at £83.7m in 2023-24 even without Champions League revenue, while cash spent on infrastructure has reduced following the completion of the revamped Anfield Road End. As well, their relatively low spending on transfers — and keenness to pay more of deals up front if they can — means Liverpool owe far less than peers in outstanding fee instalments. At the end of May 2024, they owed a net £69.9m, an amount which is expected to have dropped even lower in the past year. The previous figure was already lower than seven other Premier League clubs at the time and nowhere near the £308.9m Manchester United owed at the end of March 2025. Signing Wirtz is a significant undertaking for Liverpool. Combining the transfer fee, assumed agent fees and five years of his basic salary puts the total cost to Liverpool of signing and employing him at an estimated £170.5m. With potential add-ons and bonuses that sum could feasibly reach £200m. All parties concerned will hope it does — it will mean Wirtz and Liverpool have enjoyed plenty of success together. Those are big sums, but then Liverpool are a wealthy club. FSG's ownership has not been to every fan's taste, but it is precisely because of its frugality that Liverpool are able to make these deals when opportunities arise.
Yahoo
2 hours ago
- Yahoo
Visa (NYSE:V) Expands Payment Security With Worldpay and Launches Innovative Tap to Pay Gift Card
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