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Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
Allot Announces Second Quarter 2025 Financial Results
Exceptionally strong 73% year-over-year growth in SECaaS ARR; raising full year guidance HOD HASHARON, Israel, Aug. 14, 2025 /PRNewswire/ — Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, today announced its unaudited financial results for the second quarter 2025. Financial Highlights for the Second Quarter of 2025 Revenues of $24.1 million, up 9% year-over-year with SECaaS representing 27% of overall revenue; June 2025 SECaaS ARR* of $25.2 million, up 73% year-over-year; GAAP operating loss of $0.4 million versus $3.4 million operating loss last year; Non-GAAP operating profit of $1.2 million versus an operating loss of $1.0 million in Q2 2024; Strong positive operating cash flow of $4.4 million, compared to $1.2 million in Q2 2024; Management Comment Eyal Harari, CEO of Allot, commented, 'We are very pleased with our strong Q2 financial results, which benefitted from exceptional SECaaS performance. SECaaS ARR was up 73% year-over-year, and SECaaS revenue exceeded 25% of our overall revenue. This strong SECaaS performance drove our overall company revenue growth to 9% year-over-year and supported our improvement in profitability.' Continued Mr. Harari, 'Our recent agreements illustrate the growing traction of our cyber-security offering. Verizon Business's new mobile offering, which includes our SECaaS service, is gaining significant traction among end-customers and is already contributing meaningfully to our strong SECaaS revenue growth. 'As we announced in July, we won a landmark deal valued in the tens of millions of dollars with a tier-1 EMEA telecom operator. The multi-year agreement is one of Allot's largest ever customer wins to-date and is particularly strategic as it demonstrates the value of our unique technological advantages and core expertise for major telco players in two key areas: cyber security and network intelligence.' Concluded Mr. Harari, 'In light of our accelerated SECaaS growth, improved visibility, and high level of backlog, we are introducing full year 2025 revenue guidance of $98-102 million, positioning us for a year of profitable growth. Furthermore, we are increasing our 2025 SECaaS ARR year-over-year growth expectations to a range of 55-60%.' Second Quarter 2025 Financial Results Summary Total revenues for the second quarter of 2025 were $24.1 million, a 9% increase year-over-year compared with $22.2 million in the second quarter of 2024. Gross profit on a GAAP basis for the second quarter of 2025 was $17.3 million (gross margin of 72.1%), a 14% increase compared with $15.2 million (gross margin of 68.5%) in the second quarter of 2024. Gross profit on a non-GAAP basis for the second quarter of 2025 was $17.6 million (gross margin of 73.4%), a 13% increase compared with $15.7 million (gross margin of 70.6%) in the second quarter of 2024. Operating loss on a GAAP basis for the second quarter of 2025 was $0.4 million, compared with an operating loss of $3.4 million in the second quarter of 2024. Operating income on a non-GAAP basis for the second quarter of 2025 was $1.2 million, compared with an operating loss of $1.0 million in the second quarter of 2024. Net loss on a GAAP basis for the second quarter of 2025 was $1.7 million, or $0.04 per share, an improvement compared to the net loss of $3.4 million, or $0.09 per share, in the second quarter of 2024. Net income on a non-GAAP basis for the second quarter of 2025 was $1.5 million, or $0.03 profit per diluted share, compared to the non-GAAP net loss of $0.8 million, or $0.02 loss per basic share, in the second quarter of 2024. Operating cash flow generated in the quarter was $4.4 million. Net cash and cash equivalents, bank deposits, restricted deposits and investments as of June 30, 2025, totaled $72 million, an increase of $13 million versus $59 million cash and cash equivalents, bank deposits, restricted deposits and investment as of December 31, 2024. As of June 30, 2025, the company has no debt. During the quarter, Allot closed a public offering of $46 million, out of which $40 million in gross proceeds were received during the second quarter and an additional $6 million in gross proceeds were received following the close of the quarter. The Company used the net proceeds to repay $31.4 million in convertible debt and the balance for general corporate purposes. Conference Call & Webcast: The Allot management team will host a conference call to discuss its second quarter 2025 earnings results today, August 14, 2025 at 9:00 am ET, 4:00 pm Israel time. To access the conference call, please dial one of the following numbers: US: 1-888-668-9141, UK: 0-800-917-5108, Israel: +972-3-918-0644 A live webcast and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: About Allot Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed, and cloud service providers and over 1,000 enterprises. Our industry-leading network-based security as a service solution is already used by many millions of subscribers globally. Allot. See. Control. Secure. For more information, visit Performance Metrics * SECaaS ARR – measures the current annual recurring SECaaS revenues, which is calculated based on estimated revenues for the month of June 2025 and multiplied by 12. GAAP to Non-GAAP Reconciliation: The difference between GAAP and non-GAAP revenues is related to the acquisitions made by the Company and represents revenues adjusted for the impact of the fair value adjustment to acquired deferred revenue related to purchase accounting. Non-GAAP net income is defined as GAAP net income after including deferred revenues related to the fair value adjustment resulting from purchase accounting and excluding stock-based compensation expenses, amortization of acquisition-related intangible assets, deferred tax asset adjustment and changes in taxes-related items. These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results is provided in the accompanying Table 2. The Company provides these non-GAAP financial measures because it believes they present a better measure of the Company's core business and management uses the non-GAAP measures internally to evaluate the Company's ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company's operating performance. Safe Harbor Statement This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading 'Risk Factors' in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Investor Relations Contact: Public Relations Contact: EK Global Investor Relations Seth Greenberg, Allot Ltd Ehud Helft +972 54 922 2294 +1 212 378 8040 sgreenberg@ allot@ TABLE – 1 ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except share and per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) Revenues $ 24,051 $ 22,164 $ 47,201 $ 44,054 Cost of revenues 6,721 6,989 13,823 13,781 Gross profit 17,330 15,175 33,378 30,273 Operating expenses: Research and development costs, net 7,261 7,326 13,252 14,475 Sales and marketing 7,261 7,911 14,599 15,701 General and administrative 3,215 3,304 6,643 6,206 Total operating expenses 17,737 18,541 34,494 36,382 Operating loss (407) (3,366) (1,116) (6,109) Loss from extinguishment (1,410) – (1,410) – Other income 100 – 100 – Financial income, net 359 489 1,033 1,029 Loss before income tax expenses (1,358) (2,877) (1,393) (5,080) Income tax expenses 332 479 628 786 Net loss $ (1,690) $ (3,356) $ (2,021) $ (5,866) Basic net loss per share $ (0.04) $ (0.09) $ (0.05) $ (0.16) Diluted net loss per share $ (0.04) $ (0.09) $ (0.05) $ (0.16) Weighted average number of shares used in computing basic net loss per share 4,01,40,875 3,87,12,407 3,99,44,413 3,85,62,065 Weighted average number of shares used in computing diluted net loss per share 4,01,40,875 3,87,12,407 3,99,44,413 3,85,62,065 TABLE – 2 ALLOT LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) GAAP cost of revenues $ 6,721 $ 6,989 $ 13,823 $ 13,781 Share-based compensation (1) (160) (324) (254) (478) Amortization of intangible assets (2) (152) (152) (305) (304) Non-GAAP cost of revenues $ 6,409 $ 6,513 $ 13,264 $ 12,999 GAAP gross profit $ 17,330 $ 15,175 $ 33,378 $ 30,273 Gross profit adjustments 312 476 559 782 Non-GAAP gross profit $ 17,642 $ 15,651 $ 33,937 $ 31,055 GAAP operating expenses $ 17,737 $ 18,541 $ 34,494 $ 36,382 Share-based compensation (1) (1,289) (1,863) (2,176) (3,069) Non-GAAP operating expenses $ 16,448 $ 16,678 $ 32,318 $ 33,313 GAAP Loss from extinguishment $ (1,410) $ – $ (1,410) $ – Loss from extinguishment 1,410 – 1,410 – Non-GAAP Loss from extinguishment $ – $ – $ – $ – GAAP financial and other income $ 359 $ 489 $ 1,033 $ 1,029 Exchange rate differences* 104 110 43 204 Non-GAAP Financial and other income $ 463 $ 599 $ 1,076 $ 1,233 GAAP taxes on income $ 332 $ 479 $ 628 $ 786 Changes in tax related items (25) (133) (70) (177) Non-GAAP taxes on income $ 307 $ 346 $ 558 $ 609 GAAP Net profit (Loss) $ (1,690) $ (3,356) $ (2,021) $ (5,866) Share-based compensation (1) 1,449 2,187 2,430 3,547 Amortization of intangible assets (2) 152 152 305 304 Loss from extinguishment 1,410 – 1,410 – Exchange rate differences* 104 110 43 204 Changes in tax related items 25 133 70 177 Non-GAAP Net income (loss) $ 1,450 $ (774) $ 2,237 $ (1,634) GAAP Loss per share (diluted) $ (0.04) $ (0.09) $ (0.05) $ (0.16) Share-based compensation 0.03 0.06 0.06 0.10 Amortization of intangible assets 0.01 0.01 0.01 0.01 Loss from extinguishment 0.03 – 0.03 – Non-GAAP Net income (Loss) per share (diluted) $ 0.03 $ (0.02) $ 0.05 $ (0.05) – Weighted average number of shares used in computing GAAP diluted net income (loss) per share 4,01,40,875 3,87,12,407 3,99,44,413 3,85,62,065 Weighted average number of shares used in computing non-GAAP diluted net income (loss) per share 4,37,94,580 3,87,12,407 4,37,50,663 3,85,62,065 * Financial income or expenses related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies. TABLE – 2 cont. ALLOT LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) (1) Share-based compensation: Cost of revenues $ 160 $ 324 $ 254 $ 478 Research and development costs, net 380 787 622 1,285 Sales and marketing 466 792 771 1,235 General and administrative 443 284 783 549 $ 1,449 $ 2,187 $ 2,430 $ 3,547 (2) Amortization of intangible assets Cost of revenues $ 152 $ 152 $ 305 $ 304 Sales and marketing $ 152 $ 152 $ 305 $ 304 TABLE – 3 ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands) June 30, December 31, 2025 2024 (Unaudited) (Audited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 26,943 $ 16,142 Restricted deposit 501 904 Short-term bank deposits 11,050 15,250 Available-for-sale marketable securities 11,518 26,470 Trade receivables, net (net of allowance for credit losses of $22,392 and $25,306 on June 30, 2025 and December 31, 2024 , respectively) 20,135 16,482 Other receivables and prepaid expenses 8,641 6,317 Inventories 8,505 8,611 Total current assets 87,293 90,176 NON-CURRENT ASSETS: Severance pay fund $ 243 $ 464 Restricted deposit 329 279 Available-for-sale marketable securities 21,672 – Operating lease right-of-use assets 6,091 6,741 Other assets 552 2,151 Property and equipment, net 6,039 7,692 Intangible assets, net – 305 Goodwill 31,833 31,833 Total non-current assets 66,759 49,465 Total assets $ 1,54,052 $ 1,39,641 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables $ 924 $ 946 Employees and payroll accruals 8,780 8,208 Deferred revenues 20,647 17,054 Short-term operating lease liabilities 484 562 Other payables and accrued expenses 10,996 9,200 Total current liabilities 41,831 35,970 LONG-TERM LIABILITIES: Deferred revenues 6,079 7,136 Long-term operating lease liabilities 5,611 5,807 Accrued severance pay 814 946 Convertible debt – 39,973 Total long-term liabilities 12,504 53,862 SHAREHOLDERS' EQUITY 99,717 49,809 Total liabilities and shareholders' equity $ 1,54,052 $ 1,39,641 TABLE – 4 ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (U.S. dollars in thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) Cash flows from operating activities: Net loss $ (1,690) $ (3,356) $ (2,021) $ (5,866) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation, amortization and impairment 1,073 1,359 2,419 2,776 Share-based compensation 1,449 2,187 2,430 3,547 Capital loss – – 255 – Loss from extinguishment 1,410 – 1,410 – Other income (100) – (100) – Changes in operating assets and liabilities: Decrease (Increase) in accrued severance pay, net 93 (107) 89 (165) Decrease in other assets, other receivables and prepaid expenses 196 955 1,619 1,672 Decrease in accrued interest and amortization of premium on available-for sale marketable securities (521) (405) (862) (777) Decrease in operating leases liability (60) (159) (203) (618) Decrease in operating lease right-of-use asset 275 622 579 1,174 Increase in trade receivables (901) (2,789) (3,653) (2,980) Decrease (Increase) in inventories (312) 2,101 106 2,268 Increase (Decrease) in trade payables (97) 278 (22) 16 Increase (Decrease) in employees and payroll accruals 2,785 (649) 573 (4,135) Increase in deferred revenues 273 595 2,536 1,965 Increase (Decrease) in other payables and accrued expenses 511 542 914 (12) Net cash provided by (used in) operating activities 4,384 1,174 6,069 (1,135) Cash flows from investing activities: Decrease (Increase) in restricted deposit 50 (1) 353 703 Investment in short-term bank deposits (7,050) (3,800) (15,750) (3,800) Withdrawal of short-term bank deposits 12,700 – 19,950 10,000 Purchase of property and equipment (408) (957) (689) (1,386) Investment in marketable securities (26,458) (10,477) (55,434) (34,752) Proceeds from redemption or sale of marketable securities 27,283 7,225 49,683 32,060 Proceeds from sale of patent 100 – 100 – Net cash provided by (used in) investing activities 6,217 (8,010) (1,787) 2,825 Cash flows from financing activities: Issuance of share capital 37,691 – 37,691 – Proceeds from exercise of stock options – 1 238 1 Redemption of convertible debt (31,410) – (31,410) – Net cash provided by financing activities 6,281 1 6,519 1 Increase (Decrease) in cash and cash equivalents 16,882 (6,835) 10,801 1,691 Cash, cash equivalents at the beginning of the period 10,061 22,718 16,142 14,192 Cash, cash equivalents at the end of the period $ 26,943 $ 15,883 $ 26,943 $ 15,883 Non-cash activities: ROU asset and lease liability decrease, due to lease termination – – (71) – Redemption of convertible debt (10,000) – (10,000) – Other financial metrics (Unaudited) U.S. dollars in millions, except top 10 customers as a % of revenues and number of shares Q2-25 FY 2024 FY 2023 Revenues geographic breakdown Americas 4.2 17 % 14.2 15 % 16.6 18 % EMEA 15.8 66 % 54.0 59 % 56.1 60 % Asia Pacific 4.1 17 % 24.0 26 % 20.5 22 % 24.1 100 % 92.2 100 % 93.2 100 % Revenues breakdown by type Products 7.6 31 % 30.1 33 % 37.6 40 % Professional Services 1.6 7 % 8.3 9 % 6.1 7 % SECaaS (Security as a Service) 6.4 27 % 16.5 18 % 10.6 11 % Support & Maintenance 8.5 35 % 37.3 40 % 38.9 42 % 24.1 100 % 92.2 100 % 93.2 100 % Top 10 customers as a % of revenues 55 % 43 % 47 % Non-GAAP Weighted average number of basic shares (in millions) 40.1 38.9 37.9 Non-GAAP weighted average number of fully diluted shares (in millions) 43.8 42.3 40.3 SECaaS (Security as a Service) revenues– U.S. dollars in millions (Unaudited) Q2-2025: 6.4 Q1-2025: 5.1 Q4-2024: 4.8 Q3-2024: 4.7 Q2-2024: 3.7 SECaaS ARR* – U.S. dollars in millions (Unaudited) Jun. 2025: 25.2 Dec. 2024: 18.2 Dec. 2023: 12.7 Dec. 2022: 9.2 Logo: View original content:
Hamilton Spectator
18-07-2025
- Hamilton Spectator
A Toronto woman was hurt in a violent hit-and-run in Texas. Now she's facing $100k in medical bills
A 22-year-old Toronto woman is recovering from a brazen hit-and-run in Dallas, Texas — stuck in the United States with a shattered foot, emotional scars and more than $100,000 in medical bills. Tesnim Hussein says she did not have travel insurance. She never thought about needing it. 'I was really stressed,' she told the Star. 'It's a lot of money to have to pull out of nowhere. We came for just a quick trip, to see our family, to have fun, and now I'll end up staying here for a month.' On July 1, Hussein travelled south for the 27th annual Harari Sports and Cultural Festival, a weeklong celebration of her Harari culture, community and history, held in different cities worldwide. The event is something she looks forward to each year, a chance for her to connect with her roots and catch up with family. This year, the timing made it extra special — Hussein and her cousin had just graduated from university, and she'd recently been promoted to manager at the fast-food restaurant where she works. 'I had a week of training left before I went for my vacation,' she said. But on the night of July 3, the course of that trip — and her summer — changed dramatically. After a soccer game at the University of Texas (UT) at Dallas campus, Hussein and her cousin, Khadija Ahmed, 22, said they were struck in the nearby parking lot by the driver of a white sedan. Before they could react, the women were thrown onto the hood and then slammed onto the pavement. As the car drove off, multiple passengers — they appeared to be teenagers — rolled down the windows and 'recklessly' launched fireworks into the crowd, according to Hussein and three other witnesses. A spokesperson for the UT Dallas police department said the driver, a 17-year-old boy, has been arrested and charged with failing to stop and render aid at an incident resulting in serious bodily harm. The investigation is ongoing. The incident left Hussein with a crushed left foot, four dislocated bones, a fracture and bruising and scars along the side of her body. She has undergone two surgeries and requires a third in the coming months. Doctors have told her she cannot fly home to Toronto until the end of July because it's too risky — she could develop blood clots. The physical toll is one thing, but the financial burden adds another challenge for Hussein and her family. As a Canadian citizen, Hussein said her Ontario Health Insurance Plan (OHIP) does not come close to covering every dollar of her U.S. hospital care. Without travel insurance, she and her family are now responsible for more than $100,000 (U.S.) She said her situation is an unfortunate reminder of the importance of buying additional protection when travelling abroad. 'Not buying travel insurance was a mistake I think a lot of people make, not because we're careless, but because you just don't expect the worst to happen,' she said. Hussein said she's travelled plenty before without any issues, and thought she'd be fine this time, too. 'It never crossed my mind that something so serious could happen.' By sharing her story, she hopes it helps others think twice and protect themselves. 'But more than that,' she said, 'I hope people can understand how quickly life can change and how much support really matters when it does.' Will McAleer, executive director of the Travel Health Insurance Association of Canada, described the U.S. as 'the most expensive place on the planet' for receiving medical care. He said a Code Blue emergency, which usually means a patient is having a cardiac or respiratory arrest, can cost as much as $10,000 a day or even per hour. OHIP's Travellers Program can cover some out-of-country emergency services, but it's limited. According to its website, the treatment or service must meet specific criteria, including being medically necessary and received at a licensed hospital or health facility. The plan says it will reimburse outpatient visits at $50 Canadian each day or the amount billed by the hospital, whichever is less. It can also pay up to $400 Canadian each day for in-hospital services, depending on the level of care required. Even if a patient is eligible for that higher payment, McAleer said the coverage amounts to a very small portion of the total costs incurred in places like the U.S. It also takes a long time to get reimbursed, he said. 'We know that, on an average, you might get three to five per cent of the cost of a medical emergency,' subject to that cap, McAleer said. Hussein was discharged from the hospital last week and is recovering at a relative's home in Dallas until she can return to Toronto. Recounting the events that unfolded the night of July 3, she told the Star she doesn't remember certain parts. She's looked to Ahmed and other witnesses to help fill in the gaps. It was around 11:30 p.m. Dozens of people had finished watching the final match in a soccer tournament and were headed to their cars. Hussein and Ahmed were chatting with other attendees while their cousins went to get the car. Just as the women were walking to meet them, a white sedan with tinted windows started trailing slowly behind them. 'I thought maybe they were trying to manoeuvre around the people,' Hussein said. 'It was a little crowded.' Her cousin, Ahmed, noticed the glare from the headlights. 'Oh my god,' she recalled thinking. 'This car is so bright.' That's when the car bumped them. Just as Ahmed turned around, she said the car accelerated again. This time, it was much faster. She and Hussein rolled onto the hood and hit the windshield, but the driver didn't stop. 'They just kept going,' she said. Suddenly, the driver slammed on the brakes 'really hard,' said Sara Ali, 22, who was watching the incident unfold from her car just metres away. Before Ali could do anything, she said passengers in the sedan launched 'huge fireworks' from the windows into the crowds. At this point, Ahmed said she was on the ground. Her hijab had come off. She remembers looking up and seeing the headlights. Worried the driver was going to strike again, she said she screamed at Hussein to 'get up' and ran for cover behind another vehicle. Hussein couldn't move; she was 'screaming in pain' recalled Ahmed. The driver of the sedan then reversed and sped off. Bystanders immediately called police and rushed to help Hussein. Weeks later, Hussein and Ahmed said they are still in shock, unable to comprehend why the suspects would do such a thing — and why she and her cousin were the targets. 'Just throwing fireworks is one thing, and then to hit someone (with a car) and keep on going. There was no remorse,' Ahmed said. Hussein said she hopes justice is served to prevent a similar incident from happening. 'If they could do that to us, they can do that again.' In the wake of the incident, Hussein's family has organized a GoFundMe page to help offset the rising medical bills. It raised more than $55,000 as of Wednesday afternoon. In the message on the fundraiser page, the organizer stated that the donations would help cover the costs of surgeries and medical procedures, the hospital stay, post-operative recovery and mobility support, including crutches and therapy. 'Tesnim didn't ask for this,' the message reads. 'She was a victim of a reckless, public act — something no one should ever have to go through. Her story has been witnessed by many, and now we ask you to be a part of her healing journey.' Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
India Today
30-06-2025
- Business
- India Today
How can India build AI like ChatGPT? By doing what Mark Zuckerberg is doing
There are times when we get epoch-defining technologies. Fire, wheel, manufacturing of paper, steam engine, antibiotics, printing press, telegram, electricity, airplanes, silicon chips, WWW. It has happened again and again, and while the bar is high, and most of the time, the next big thing is merely hype, breakthroughs do happen. The generative AI feels like this epoch-defining technology. It is not perfect, but it is the beginning of something. AI will embed itself in our lives to become a layer on top of which the world will move. It is the potency of this idea that has started an arms race among tech companies, and not just companies but among when we say countries, we are mostly talking about two: the US and China. I would love to see another name there — 2017, I headed to Google I/O, which resulted in this piece titled I/O 2017 shows Google is no longer a search company, it's an AI company. I spent my 15-hour flight reading Homo Deus by Yuval Noah Harari. Unlike the Sapiens, which looked at humanity's past, this one tried to imagine human affairs in the coming years. Harari made a number of observations in that book. One has stayed with me ever since that flight. 'In the early twenty-first century, the train of progress is again pulling out of the station,' Harari wrote. 'This will probably be the last train ever to leave the station called Homo Sapiens. Those who miss this train will never get a second chance.'advertisement We are already beginning to see that some of this is happening. Over the last few decades, technologies, including military tech, have coalesced around a few places. One is obviously Silicon Valley. Then there are a few Chinese and other Asian cities. But it is the generative AI, such as ChatGPT and DeepSeek, which is truly going to accelerate the trend. The potential inherent in modern AI, when combined with enough compute and robotics, is such that it will fundamentally alter the world. And this is without taking into account where it ends up going. Even if all the AI development freezes right now and there is no new technology breakthrough, even then we already have enough in terms of core tech to remake the it's not going to freeze at the moment. The world - or at least some US and Chinese companies - is racing towards creating AI systems that would be as good as humans, or better, at most tasks. The race towards AGI - Artificial General Intelligence - is real and so is the risk that whoever gets to AGI first will zoom ahead of everyone else for perpetuity. This is the reason why Harari also warned in Homo Deus that 'in the twenty-first century, those who ride the train of progress will acquire divine abilities of creation and destruction, while those left behind will face extinction.'advertisementWhat has this got to do with Mark Zuckerberg? Unlike OpenAI or Google, or even DeepSeek, his company Meta has not exactly been an AI pioneer so far. Precisely. That is why we need to talk about Mark the last few months — I am assuming around the time Meta launched its lacklustre Llama 4 in April — Zuckerberg decided that this was it. He woke up, and as they say in Gram, chose violence. Now Zuckerberg is personally assembling a team of crack AI researchers. It is as if he believes that nothing else matters in the future except AI, that without a good AI system in place, his companies like Meta and WhatsApp will not only miss the train but will only has Zuckerberg decided to build a crack team of AI researchers, he has decided to build it irrespective of the cost. No cost is too high. Pissing off people is okay, including OpenAI CEO Sam Altman, who is seemingly pissed off at how aggressively Zuckerberg is trying to poach his people. In the last few weeks, there have been 10s of top OpenAI engineers who have left the company for Zuckerberg's team. This includes Trapit Bansal, an IITian who was supposedly a key figure at are reports that not only is Zuck handpicking his hires, he is also throwing an unimaginable amount of money at each of them. The reported salaries run into tens of millions - Rs 80 crore to Rs 400 crore. Some chosen ones are likely getting over a hundred million. This comes just days after Meta acqui-hired, a process where a company buys another one just to get people working in it, by putting in $14 billion for 49 per cent stake in an AI company called is possible that Zuckerberg's efforts may come to naught. Or he may succeed. We don't know. Even Zuckerberg wouldn't know. But he wants to take a swing. And what a swing he is taking! The way he is going about building an AI system after falling behind has some lessons for Indian government should be taking a lead in developing AGI. But so contested is the scene right now, majorly for AI researchers, that merely talking about it is not going to cut it. It needs a plan and a willingness to push for it irrespective of the cost. Most significantly, it needs infrastructure and people. India has is a sobering fact: Zuckerberg just spent $14 billion to get a handful of AI researchers, whereas the Indian government is hoping to spend a little over $1 billion in five years on AI. This is according to our 2024 Budget. This year, in the Budget, AI merely got a passing reference and an allocation of around Rs 500 crore, a figure that is likely less than what Mark Zuckerberg has offered top AI I look at what companies and governments in the US and China are doing, I find India's AI rhetoric empty. Beyond platitudes and empty words, India has not made any serious attempt to get on the AI train. Now, it risks missing it. We have a few startups. Krutim and Sarvam AI come to mind. But these are not a patch on what the likes of Zuckerberg are cooking. At the same time, India's IT giants are happy doing what they always do — bureaucratic SAAS and coolie like IT service work without ever thinking about deep tech and fundamental 2023, while Sam Altman was visiting India, he ruffled feathers by saying that it was impossible for India, or Indian companies, to build something like ChatGPT. He knew what would be needed to build a top-class AI system. For AGI, India would need infrastructure and an ecosystem that it currently doesn't have. This ecosystem can only be enabled and created by the government. It's the same with Indian government needs to reach out to AI engineers and researchers and somehow convince them to build AGI in India. It needs to do what Mark Zuckerberg is doing, which is writing emails and bringing people on board. In other words, India needs its AI Manhattan Project to get AGI or an AI system comparable to what OpenAI, Google or China's DeepSeek have. Nothing less will do.(Javed Anwer is Technology Editor, India Today Group Digital. Latent Space is a weekly column on tech, world, and everything in between. The name comes from the science of AI and to reflect it, Latent Space functions in the same way: by simplifying the world of tech and giving it a context)- Ends(Views expressed in this opinion piece are those of the author)
Indian Express
13-06-2025
- Science
- Indian Express
Will AI replace us? Yuval Noah Harari's stark warning about a future without borders
In yet another illuminating conversation, renowned author Yuval Noah Harari, known for his acclaimed works 'Sapiens' and 'Nexus', shared his unique perspective on the rapid rise of AI and how it will impact humanity. 'AI will not be one big AI. We are talking about potentially millions or billions of new AI agents with different characteristics, again, produced by different companies, different countries,' the author said in his latest conversation at the WSJ Leadership Institute. During the conversation, one of the guests asked Harari that through history, organising principles like religion and church shaped society in a unified way, but with AI there is no single central force. There are many different AIs being built with different goals and values. What happens when there isn't one dominant AI but many competing AIs evolving quickly? What kind of world does that create? In his response the author said that we are dealing with potentially millions or billions of new AI agents. 'You'll have a lot of religious AIs competing with each other over which AI will be the authoritative AI rabbi for which section of Judaism. And the same in Islam, and the same in Hinduism, in Buddhism, and so forth. So you'll have competition there. And in the financial system. And we just have no idea what the outcome will be.' He said that we have thousands of years of experience with human societies, and at least we have some experience as to how these things develop. But, when it comes to AI, we have zero experience. 'What happens in AI societies when millions of AIs compete with each other? We just don't know. Now this is not something you can simulate in the AI labs.' Harari went on to say that in case OpenAI wanted to check the safety or the potential outcome of its latest AI model, it cannot simulate history in the laboratory. While it may be able to check for all kinds of failures in the system, it cannot predict what happens when there are millions of copies of these AIs in the world developing in unknown ways. He went on to call it the biggest social experiment in human history, of which all of us are a part, and nobody has any idea how it will develop. In an extension of his argument, Harari used the analogy of the ongoing immigration crisis in the US, Europe and elsewhere. According to him, people are worried about immigrants for three reasons – they will take our jobs, they come with different cultural ideas, and they will change our culture. 'They may have political agendas; they might try to take over the country politically. These are the three main things that people keep coming back to.' According to the author, one can think about the AI revolution as simply a wave of immigration of millions or billions of AI immigrants that will take people's jobs and have very different cultural ideas, and that may even try to gain some kind of political power. 'And these AI immigrants or digital immigrants, they don't need visas; they don't cross a sea in some rickety boat in the middle of the night. They come at the speed of light,' he said, adding that far-right parties in Europe talk mostly about human immigrants but overlook the wave of digital immigrants that is coming to Europe. Harari feels that any country that cares about its sovereignty should care about the future of the economy and culture. 'They should be far more worried about the digital immigrants than about the human immigrants.' When the host asked the acclaimed author what it meant to be human at the moment, Harari responded by saying, 'To be aware for the first time that we have real competition on the planet.' The author said that while we have been the most intelligent species by far for tens of thousands of years, now we are creating something that could compete with us in the near future. 'The most important thing to know about AI is that it is not a tool like all previous human inventions; it is an agent. An agent in the sense that it can make decisions independently of us, it can invent new ideas, and it can learn and change by itself. All previous human inventions, you know, whether they're printing presses or the atom bomb, they are tools that empower us,' said Harari. The host said that there is a lot of responsibility on leaders because how they act is how the AI will be. 'You cannot expect to lie and cheat and have a benevolent AI.' In his response, Harari acknowledged that there is a big discussion around the world about AI alignment. He said that there are a lot of efforts focused on the idea that if we can design these AIs in a certain way, if we can teach them certain principles, they will be safe. However, there are two problems with this approach – firstly, the definition of AI is that it can learn and change by itself; secondly, if you think of AI as a child that can be educated, it surprises or horrifies you. 'The other thing is, everybody who has any knowledge of education knows that in the education of children, it matters far less what you tell them than what you do. If you tell your kids not to lie, and your kids watch you lying to other people, they will copy your behaviour, not your instructions.' Similarly, Harari explained that if AIs that are being educated are given access to a world where they see humans behave, even some of the most powerful humans, including their makers, lying, then the AIs will copy that behaviour. 'People who think that I can run this huge AI corporation, and while I'm lying, I will teach my AIs not to lie; it will not work. It will copy your behaviour,' he said.
Time of India
04-06-2025
- Health
- Time of India
Yuval Noah Harari on risks of intimate relationships with AI: 'There could be unknown benefits, but for now…'
Israeli historian and author Yuval Noah Harari has warned that artificial intelligence's (AI) ability to replicate intimacy can alter human relationships. The author, known for his bestselling books Sapiens and Nexus, said that, "there could be unknown benefits, but for now, the risks far outweigh them." Tired of too many ads? go ad free now Harari suggested that while fears about job automation dominate headlines, AI's impact on intimate relationships presents a more unsettling prospect. In a recent post shared on Instagram, the author added a video clip of his discussion which was co-hosted by the Deutsches Institut für Japanstudien , Tokyo College, and Kawade Shobo. During this interview, Harari explained that AI, having already mastered language and attention, is now progressing towards mimicking intimacy, which he considers a potent human connection. What author Yuval Noah Harari said about intimate relationships with AI Captioning the Instagram post, Harari wrote: 'Wouldn't you want a partner that always gives you 100% attention and is never upset? We are facing a world where a new generation grows up with intimate relationships with AI . There could be unknown benefits – but for now, the risks far outweigh them.' In the video, he can be seen saying: 'AI can replicate intimacy the same way that it masters language and the same way that it previously mastered attention. The Next Frontier is intimacy, and it is much more powerful than attention. If you want to change somebody's views on politics to sell a product, anything intimacy is the most powerful tool to do that. A good friend can change your views in a way that no number of articles in a newspaper or a book can do until today. Nothing could fake intimacy, and it was impossible in particular to mass produce intimacy.' Take a look at the Instagram post 'Now, what happens if the new generation grows up? And develops intimate relations with AIs instead of with other human beings. Tired of too many ads? go ad free now Again, we don't know. It could have some benefits, but the potential danger is enormous. That people will become attached to the fake people, and in the process, we lose the ability to create intimacy with real human beings. Because really, human beings are much more problematic than AIs that want to become your intimate friend,' Harari continued. 'Its greatest advantage is that it has no feelings of its own. It's never upset. It's never angry. It's never tired. It can focus on you 100%. Understand exactly how you feel and create a fake sense of intimacy,' the author, who is known for exploring human evolution, technology, consciousness, and AI's impact on our future further noted.
