CP Gurnani's AIonOS teams up with Perpetuuiti for AI services
Addressing a media briefing Gurnani said through the joint venture the two firms will create a dedicated AI-led resiliency and cybersecurity unit, focused on automating organizational recovery and continuity following cyberattacks or IT disruptions.
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Indian Express
19 minutes ago
- Indian Express
OpenAI building search index to power ChatGPT super assistant, reveals internal document
OpenAI appears to have grand visions for ChatGPT as an everyday essential for users. This is all part of a larger strategy that has been detailed in an internal document that was recently made public. The document was disclosed as part of the legal discovery process in the antitrust search remedies case between Google and the US Department of Justice (DOJ). The confidential roadmap suggests that the AI startup aims to build ChatGPT as an 'intuitive AI super assistant' that can manage tasks and take actions on behalf of the user. In simple words, OpenAI plans to transform ChatGPT into a 'super assistant' that can move seamlessly between channels, acting as a personalised gateway to the internet. The document envisions ChatGPT as evolving into a full-spectrum operator, meaning it manages calendars, does travel booking, navigates software, and even contacts professionals on the user's behalf. The Sam Altman-led AI startup has reportedly described its plan for ChatGPT as an intelligent entity with T-shaped skills. 'It's an entity because it's personalised to you and available anywhere you go – including our native apps, phones, email, or third-party surfaces like Siri. It's T-shaped because it has broad skills for daily tasks that are tedious and deep expertise for tasks that most people find impossible (starting with coding). The broad part is all about making life easier: answering a question, finding a home, contacting a lawyer, joining a gym, planning vacations, buying gifts, managing calendars, keeping track of to-dos, and sending emails,' an excerpt from the document reads. On the technical side, OpenAI is relying on AI reasoning models like o3, which, according to the document, is smart enough to reliably perform agentic tasks. Moreover, it has plans to deploy additional features such as Computer Use, which will expand ChatGPT's ability to take direct actions. Another key part of the strategy seems to be the development of a dedicated search index. 'To fully be that interface, we need a search index and the ability to take actions on the web.' OpenAI may roll out this feature in the second half of 2025; however, there are not many details. OpenAI seems to be treading carefully, as it does not want ChatGPT to be seen as a product such as a search engine, operating system or even a browser. Based on the document, the company aims to establish a new category of personal AI agents that guides users through their digital needs. The company appears to want ChatGPT to be the main entry point for daily digital life. 'Now we're up against search engines, browsers, even interactions with real people. This one isn't a head-on match. It's about solving more and more use cases and gradually pulling users in. That's why we don't call our product a search engine, a browser, or an OS – it's just ChatGPT,' read the document. In the document, the company also breaks down its competition into two groups. In the short term, its rivals include other popular chatbots such as Claude, Gemini, or Copilot. However, in the broader sense, it considers traditional search engines, browsers, and even interactions with real people as its competitors. It also describes one of its competitors, which is redacted from the document, as especially threatening, as it can embed its own AI systems into products without worrying about business model manipulation. OpenAI has also listed several strategic advantages it has over its peers. The company believes it has got everything it needs to win, such as one of the fastest-growing products of all time, a category-defining brand, a research lead, a compute lead, a world-class research team, and an increasing number of effective people with agency who are motivated. 'We don't rely on ads, giving us flexibility on what to build. Our culture values speed, bold moves, and self-disruption. Maintaining these advantages is hard work, but, if we do, they will last for a while,' the document reads.
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Business Standard
24 minutes ago
- Business Standard
Asian markets rise as US stocks near records on easing trade tensions
Shares rose early Tuesday in Asia after US stock indexes drifted closer to records, while oil prices extended gains. Beijing and Washington dialled back trade friction as the US extended exemptions for tariffs on some Chinese goods, including solar manufacturing equipment, that US industries rely on for their own production. The US Trade Representative extended those exemptions, which were due to expire on May 31, by three months through August 31. Still, China criticised the US on Monday over moves it alleged harmed Chinese interests, including issuing AI chip export control guidelines, stopping the sale of chip design software to China, and planning to revoke Chinese student visas. Hong Kong's Hang Seng gained 1.1 per cent to 23,417.39, while the Shanghai Composite index added 0.3 per cent to 3,356.36. In Tokyo, the Nikkei 225 advanced 0.6 per cent to 37,683.19. South Korean markets were closed for a snap presidential election triggered by the ouster of Yoon Suk Yeol, a conservative who now faces an explosive trial on rebellion charges over his short-lived imposition of martial law in December. Australia's S&P/ASX 200 was up 0.7 per cent to 8,475.50. In Taiwan, the Taiex gained 1.4 per cent. On Monday, US stock indexes drifted closer to their records following a stellar May, Wall Street's best month since 2023. The S&P 500 rose 0.4 per cent to 5,935.94 after erasing an early loss from the morning. The Dow Jones Industrial Average added 0.1 per cent to 42,305.48. The Nasdaq composite climbed 0.7 per cent to 19,242.61. Indexes had fallen close to 1 per cent in the morning following some discouraging updates on US manufacturing. President Donald Trump has been warning that US businesses and households could feel some pain as he tries to use tariffs to bring more manufacturing jobs back to the country, and their on-and-off rollout has created lots of uncertainty. But stocks rallied back as the day progressed. Nvidia climbed 1.7 per cent, and Meta Platforms rose 3.6 per cent, for example. Oil prices have gained as attacks by Ukraine in Russia raise uncertainty about the flow of oil and gas around the world. Early Tuesday, US benchmark crude oil was up 62 cents at $63.14 per barrel. Brent crude, the international standard, picked up 57 cents to $65.19 per barrel. Markets took in stride fresh salvos between the world's two largest economies, just a few weeks after the United States and China had agreed to pause many of their tariffs that had threatened to drag the economy into a recession. That followed President Donald Trump's accusation at the end of last week, where he said China was not living up to its end of the agreement that paused their tariffs against each other. Trump on Friday told Pennsylvania steelworkers he's doubling the tariff on steel imports to 50 per cent to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods. That helped stocks of US steelmakers climb. Nucor jumped 10.1 per cent, and Steel Dynamics rallied 10.3 per cent. On the losing side of Wall Street were automakers and other heavy users of steel and aluminium. Ford fell 3.9 per cent, and General Motors reversed by 3.9 per cent. Lyra Therapeutics soared nearly 311 per cent for one of the market's biggest gains after reporting positive late-stage trial results of an implant to treat chronic sinus inflammation in some patients. In the bond market, Treasury yields rose as worries continue about how much debt the US government will pile on due to plans to cut taxes and increase the deficit. The yield on the 10-year Treasury climbed to 4.44 per cent from 4.41 per cent late Friday and from just 4.01 per cent roughly two months ago. That's a notable move for the bond market. Besides making it more expensive for US households and businesses to borrow money, such increases in Treasury yields can deter investors from paying high prices for stocks and other investments. Yields had dipped briefly in the morning before rallying back following the updates on manufacturing, which suggested that effects of Trump's tariffs are taking root in the economy. A report from S&P Global on manufacturing came in better than expected, though uncertainty caused by tariffs has worries high about supplier delays and rising prices. Also, early Tuesday, the dollar rose to 143.10 Japanese yen from 142.71 yen. The euro slipped to $1.1438 from $1.1443.
Time of India
25 minutes ago
- Time of India
Musk taps investors for billions days after Washington exit
Elon Musk is selling $5 billion in debt for his artificial intelligence startup, xAI Corp. , the latest in a series of fundraising efforts across his business empire as the billionaire pivots away from politics and returns to running his various companies. Morgan Stanley is shopping the debt for xAI with a double-digit interest rate, according to people familiar with early pricing discussions. The financing could help Musk continue to spend aggressively on AI infrastructure as he builds out a massive data center in Memphis. Musk appears eager to refocus on his array of businesses after announcing last week that he would be stepping back from politics. He had spent months as a senior adviser and regular companion to President Donald Trump, for whom he campaigned in the 2024 election and was a top financial supporter. The debt package includes a floating-rate term loan, a fixed-rate term loan and senior secured notes, said the people, who are not authorized to share the information publicly. The proceeds will go toward general corporate purposes, with commitments due June 17. Early pricing discussions are 7 percentage points over the benchmark rate for the floating-rate term loan and a roughly 12% yield on the senior notes, different people with knowledge of the matter said. The debt sale has already garnered demand in excess of $3.5 billion, they added. Live Events A representative for xAI declined to comment. Morgan Stanley did not immediately provide a comment. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Musk's presence in Washington — where he oversaw a broad government cost-cutting initiative known as the Department of Government Efficiency — led to widespread criticism of him personally, but also concern about the performance of his companies. Shares at Tesla Inc., where Musk is chief executive officer, are down 20% since the inauguration. In addition to xAI's debt offering, Musk also raised $650 million for his neurotechnology company, Neuralink Corp. , and is selling $300 million in xAI stock through a secondary offering, according to the Financial Times. Investor enthusiasm Musk recently merged xAI with his social-networking platform X into a combined company called XAI Holdings . He has been investing heavily in its Memphis data center, called Colossus, which the debt sale could help finance. That operation already has 200,000 graphics processing units (GPUs) training its AI systems, and Musk aims to add 1 million in another location nearby, he said in a May 20 interview on CNBC. Bloomberg previously reported that the company was in talks with investors to raise roughly $20 billion in funding, underscoring the market's enthusiasm for AI as well as Musk's standing as a business titan and political player. Morgan Stanley has a long history of working with Musk. The bank advised him on his takeover of X — then called Twitter Inc. — in 2022 and led a group of lenders that provided debt financing for the $44 billion acquisition. They intended to immediately sell the loans to investors, but concerns about the underlying business and some of Musk's erratic decisions left banks stuck with $13 billion of risky debt on their balance sheets for more than two years. Morgan Stanley successfully re-launched the sale process this year, getting rid of the last bits of debt in April, as Musk's standing in Washington bolstered optimism about his business prospects. The early relationship between X and xAI was also marketed as a perk for investing in the platform's bonds. Between the debt sales at or near face value, the interest payments and the advisory fees, Morgan Stanley ended up profiting handsomely from the transaction.
