Latest news with #MayankJain
Time of India
2 days ago
- Business
- Time of India
Can Nifty sustain 25,000? Share.Market expert answers, suggests strategy for Cochin Shipyard, Suzlon & 4 more stocks
While the RBI repo rate cut is undoubtedly a significant psychological and technical milestone, for Nifty to sustain above 25,000, the upcoming macro data and corporate earnings will be key, Mayank Jain , Market Analyst, said as he advise investors to watch for consistent institutional flows and sector rotation to confirm if this breakout holds. This analyst spells-out strategy in previous week's major movers viz. Cochin Shipyard , Sobha, Suzlon Energy and 3 more stocks . Excerpts: Q: Nifty continued its winning momentum on Monday after ending with 1% weekly gains thanks to the RBI monetary policy which surprised the Street with a 50 bps rate cut. This also helped Nifty end above 25,000, its third closing above this level. Can it sustain this level or is it just a news triggered event? The Nifty's close above 25,000, buoyed by a surprise 50 bps rate cut from the RBI, is undoubtedly a significant psychological and technical milestone. The move injected optimism into rate-sensitive sectors, pushing the index higher by nearly 1%. However, whether the Nifty sustains above this level depends on follow-through buying and fundamental triggers beyond monetary easing. The RBI's aggressive stance signals a broader intent to support growth amid easing inflation. Yet, markets may consolidate near this range in the short term as traders assess whether the rally has legs or was a knee-jerk reaction. For sustainability, upcoming macro data and corporate earnings will be key. Watch for consistent institutional flows and sector rotation to confirm if this breakout holds. Q: What are key levels for Nifty and Bank Nifty, this week? As Indian equity markets ride the momentum of the RBI's surprise 50 basis point rate cut and a broad-based rally in financials, traders are closely watching the next technical levels for both the Nifty and Bank Nifty indices. The Nifty index has decisively surpassed the psychologically important 25,000 mark, reflecting renewed investor confidence and robust buying interest across sectors. Immediate resistance is now seen at 25,100. A sustained move above this level could open the way to the next resistance zone at 25,200–25,250, with a further upside target at 25,500 if the current bullish momentum continues. On the downside, Nifty's immediate support lies in the 24,850–24,800 zone, which is particularly crucial as it serves as a trend-decider for the index. If this support band fails to hold, the index could retreat towards 24,500, a key support level for the week Bank Nifty has surged to an all-time high, the index is now trading in uncharted territory, with the next major resistance at the psychologically significant 57,000 mark. A decisive breakout above this level could see Bank Nifty advance towards the 57,400–57,500 zone, where daily pivot resistance and psychological barriers may come into play. On the support side, Bank Nifty's immediate cushion lies at 56,000. If breached, the index could see further declines to 55,500 and 55,400, which are the next critical support levels to watch. Notably, the 20-day Simple Moving Average (SMA) also coincides with this support region, making it an essential level for short-term traders and investors to monitor. Q: Interest rate sensitive sectors banks, auto and realty welcomed the move and saw significant rallies. Do you think it will go a long way in improving Q2 earnings of these sectors and re-rate them? Banks, auto, and realty stocks rallied sharply after the rate cut, with some gaining over 2–5% intraday. Lower borrowing costs improve credit growth, ease home loan EMIs, and drive auto affordability, setting the stage for stronger topline and margin expansion in Q2. This policy action could offer real momentum for a re-rating, especially in real estate and affordable housing segments, where demand is closely tied to interest rates. Similarly, autos may benefit from stronger retail demand and improved financing. For banks, a pickup in loan demand and reduced cost of funds can aid both earnings and asset quality. If macro stability continues and demand sustains, these sectors are likely to see positive earnings surprises and upward revisions in valuations. Q4: While we have seen FII trends changing for the good over the past two months, the last fortnight witnessed a sell-off in banks and autos. Do you expect a meaningful participation of foreign investors in these sectors? After robust inflows in May, Foreign Institutional Investors (FIIs) turned net sellers in early June, offloading Rs 3,565 crore in equities so far. The narrow yield differential between US and Indian bonds and global uncertainties have contributed to this cautious stance. However, domestic institutional investors have offset much of this selling, keeping markets stable. The RBI's pro-growth policy and India's resilient economic outlook could attract FIIs back, especially if the rally sustains and triggers short-covering. Regulatory changes, such as potential easing of foreign ownership rules in banks, may also encourage long-term FII participation. For now, FII activity remains mixed, and meaningful involvement will depend on sustained sectoral performance and global risk appetite. Q: What is your assessment of the impact of the Trump-Musk spat on the US economy since Musk has called for the President's impeachment and how should the IT sector investors take it? The public feud between Elon Musk and President Trump escalated after Musk called for Trump's impeachment and warned that Trump's new trade tariffs could trigger a US recession by late 2025. The spat led to a 14% plunge in Tesla's stock, erasing over $150 billion in market value, and rattled broader market sentiment, though the direct impact on the overall US economy remains limited. For Indian IT sector investors, the episode underscores the risks of heightened US policy uncertainty and a potential slowdown in US economic activity, which could affect tech spending and outsourcing demand. While the immediate fallout is concentrated in Tesla and related stocks, investors should monitor US macro developments and corporate sentiment closely, as any US recession or policy volatility could have a knock-on effect on Indian IT exports. Q: There were some big winners this week like Cochin Shipyard, Brainbees and Sobha while MMTC, Suzlon and Waaree were among the worst losers. What should investors do with them along with Raymond post the carving out of the realty business? We can answer this by checking factor scores for these stocks using our research, which evaluates them across five key factors: Momentum, Value, Sentiment, Volatility, and Quality. Each stock is scored out of 5 on these factors, helping investors assess price trends, fair valuation, market perception, risk levels, and financial strength. By using these insights, investors can make informed decisions and identify strong opportunities in the current market. Cochin Shipyard : Factor Analysis Snapshot Momentum: 5/5 – Strong Outperformer Cochin Shipyard is demonstrating robust momentum, significantly outperforming the market in recent sessions. The stock has delivered impressive returns, including a 22.88% gain in the past week, reflecting continued investor interest and positive price action. Value: 1/5 – Very Expensive The stock appears highly overvalued relative to its fundamentals, with a Price-to-Earnings (PE) ratio of 74.75 and a Price-to-Book (PB) ratio of 11.09—both well above sector averages. This suggests investors are paying a premium for its growth prospects. Quality: 4/5 – Good Quality Cochin Shipyard maintains solid financial health, with a strong return on equity and consistent profitability. The company has a low debt-to-equity ratio and has reported positive results for the last several quarters, underscoring its operational strength. Volatility: 3/5 – Slight Price Fluctuation The stock exhibits moderate price fluctuations, suggesting relatively moderate risk or moderate price stability Brainbees Solutions Ltd. (FirstCry): Factor Analysis Snapshot Momentum: 1/5 – Huge Underperformer Brainbees Solutions Ltd. (FirstCry) is currently showing very weak momentum, significantly underperforming compared to its sector peers. Despite a minor daily gain, the stock has struggled to deliver positive returns over recent periods. Value: 1/5 – Very Expensive The stock is considered highly overvalued based on its valuation metrics. Investors are paying a premium that is not justified by the company's recent performance, making it unattractive from a value perspective. Quality: 4/5 – Good Quality On a positive note, Brainbees Solutions demonstrates strong business fundamentals. The company maintains good operational quality and financial health, which is reflected in its high quality score. Sentiment: 1/5 – Analysts Are Very Bearish Market sentiment and analyst outlook remain very negative. Most analysts are bearish on the stock's near-term prospects, indicating a lack of confidence in a potential turnaround. Sobha (SOBHA): Stock Analysis Snapshot Momentum: 3/5 – Market-Like Performer Sobha Ltd. has demonstrated moderate momentum, performing in line with the broader market. Value: 1/5 – Very Expensive The stock is currently considered very expensive based on its valuation metrics. Investors are paying a significant premium, which may limit further upside unless earnings growth accelerates. Quality: 4/5 – Good Quality Sobha Ltd. stands out for its strong business fundamentals and operational efficiency. The company's quality score reflects consistent financial performance and sound management practices. Volatility: 5/5 – Low Price Fluctuation The stock exhibits high price fluctuations, suggesting relatively higher risk or price instability Sentiment: 5/5 – Analysts Are Very Bullish Market sentiment is highly positive, with analysts expressing strong bullish views on Sobha Ltd. This optimism is likely driven by the company's quality and recent price performance. MMTC: Stock Analysis Snapshot Momentum: 2/5 – Underperformer MMTC Ltd. is currently showing weak momentum, and underperforming its sector. Quality: 5/5 – Excellent Quality Despite recent financial setbacks, MMTC is rated highly on quality, reflecting strong fundamentals in certain areas and operational resilience. The company remains a significant player in its sector, though it has struggled with declining revenues and profits in recent quarters. Volatility: 2/5 – High Price Fluctuation The stock exhibits high price fluctuations, suggesting relatively higher risk or instability Suzlon: Stock Analysis Snapshot Momentum: 3/5 – Market-Like Performer Suzlon Energy Ltd. is showing momentum in line with the broader market. Value: 3/5 – Fairly Valued The stock is considered fairly valued at current levels. While Suzlon's P/E ratio (around 43–59) is higher than the sector average, recent earnings growth and improved profitability help justify its valuation. Investors are neither paying a steep premium nor getting a deep discount. Quality: 5/5 – Excellent Quality Suzlon stands out for its strong financial turnaround and robust order book. The company has demonstrated operational efficiency and consistent earnings improvement, positioning it as a high-quality pick in the renewable energy sector. Volatility: 4/5 – Low Price Fluctuation The stock exhibits Low price fluctuations, suggesting relatively lower risk or stability in price Sentiment: 5/5 – Analysts Are Very Bullish Market sentiment is highly positive, with analysts expressing strong confidence in Suzlon's future prospects. Raymond: Stock Analysis Snapshot Momentum: 4/5 – Outperformer Raymond Ltd. has shown strong momentum, outperforming its sector in recent weeks. Value: 5/5 – Highly Undervalued The stock is rated as highly undervalued in the factor analysis, The current price-to-book ratio is also low compared to sector peers, further supporting its undervalued status. Quality: 4/5 – Good Quality Raymond demonstrates strong business fundamentals, with consistent profit and revenue growth. The company maintains a healthy return on equity and a manageable debt-to-equity ratio, indicating sound financial management. Volatility: 3/5 – Slight Price Fluctuation The stock exhibits Moderate price fluctuations, suggesting relatively moderate risk or moderate price stability ( Investments in securities are subject to market risks. Read all the related documents carefully before investing. All investors are advised to conduct their own independent research into investment strategies before making an investment decision. Past performance does not guarantee future returns.)
Economic Times
2 days ago
- Business
- Economic Times
Can Nifty sustain 25,000? Share.Market expert answers, suggests strategy for Cochin Shipyard, Suzlon & 4 more stocks
While the RBI repo rate cut is undoubtedly a significant psychological and technical milestone, for Nifty to sustain above 25,000, the upcoming macro data and corporate earnings will be key, Mayank Jain , Market Analyst, said as he advise investors to watch for consistent institutional flows and sector rotation to confirm if this breakout holds. This analyst spells-out strategy in previous week's major movers viz. Cochin Shipyard, Sobha, Suzlon Energy and 3 more stocks. Excerpts: ADVERTISEMENT Q: Nifty continued its winning momentum on Monday after ending with 1% weekly gains thanks to the RBI monetary policy which surprised the Street with a 50 bps rate cut. This also helped Nifty end above 25,000, its third closing above this level. Can it sustain this level or is it just a news triggered event? The Nifty's close above 25,000, buoyed by a surprise 50 bps rate cut from the RBI, is undoubtedly a significant psychological and technical milestone. The move injected optimism into rate-sensitive sectors, pushing the index higher by nearly 1%. However, whether the Nifty sustains above this level depends on follow-through buying and fundamental triggers beyond monetary easing. The RBI's aggressive stance signals a broader intent to support growth amid easing inflation. Yet, markets may consolidate near this range in the short term as traders assess whether the rally has legs or was a knee-jerk reaction. For sustainability, upcoming macro data and corporate earnings will be key. Watch for consistent institutional flows and sector rotation to confirm if this breakout holds. Q: What are key levels for Nifty and Bank Nifty, this week? As Indian equity markets ride the momentum of the RBI's surprise 50 basis point rate cut and a broad-based rally in financials, traders are closely watching the next technical levels for both the Nifty and Bank Nifty indices. ADVERTISEMENT The Nifty index has decisively surpassed the psychologically important 25,000 mark, reflecting renewed investor confidence and robust buying interest across sectors. Immediate resistance is now seen at 25,100. A sustained move above this level could open the way to the next resistance zone at 25,200–25,250, with a further upside target at 25,500 if the current bullish momentum the downside, Nifty's immediate support lies in the 24,850–24,800 zone, which is particularly crucial as it serves as a trend-decider for the index. If this support band fails to hold, the index could retreat towards 24,500, a key support level for the week ADVERTISEMENT Bank Nifty has surged to an all-time high, the index is now trading in uncharted territory, with the next major resistance at the psychologically significant 57,000 mark. A decisive breakout above this level could see Bank Nifty advance towards the 57,400–57,500 zone, where daily pivot resistance and psychological barriers may come into play. ADVERTISEMENT On the support side, Bank Nifty's immediate cushion lies at 56,000. If breached, the index could see further declines to 55,500 and 55,400, which are the next critical support levels to watch. Notably, the 20-day Simple Moving Average (SMA) also coincides with this support region, making it an essential level for short-term traders and investors to monitor. Q: Interest rate sensitive sectors banks, auto and realty welcomed the move and saw significant rallies. Do you think it will go a long way in improving Q2 earnings of these sectors and re-rate them? Banks, auto, and realty stocks rallied sharply after the rate cut, with some gaining over 2–5% intraday. Lower borrowing costs improve credit growth, ease home loan EMIs, and drive auto affordability, setting the stage for stronger topline and margin expansion in Q2. ADVERTISEMENT This policy action could offer real momentum for a re-rating, especially in real estate and affordable housing segments, where demand is closely tied to interest rates. Similarly, autos may benefit from stronger retail demand and improved financing. For banks, a pickup in loan demand and reduced cost of funds can aid both earnings and asset macro stability continues and demand sustains, these sectors are likely to see positive earnings surprises and upward revisions in valuations. Q4: While we have seen FII trends changing for the good over the past two months, the last fortnight witnessed a sell-off in banks and autos. Do you expect a meaningful participation of foreign investors in these sectors? After robust inflows in May, Foreign Institutional Investors (FIIs) turned net sellers in early June, offloading Rs 3,565 crore in equities so far. The narrow yield differential between US and Indian bonds and global uncertainties have contributed to this cautious stance. However, domestic institutional investors have offset much of this selling, keeping markets stable. The RBI's pro-growth policy and India's resilient economic outlook could attract FIIs back, especially if the rally sustains and triggers short-covering. Regulatory changes, such as potential easing of foreign ownership rules in banks, may also encourage long-term FII participation. For now, FII activity remains mixed, and meaningful involvement will depend on sustained sectoral performance and global risk appetite. Q: What is your assessment of the impact of the Trump-Musk spat on the US economy since Musk has called for the President's impeachment and how should the IT sector investors take it? The public feud between Elon Musk and President Trump escalated after Musk called for Trump's impeachment and warned that Trump's new trade tariffs could trigger a US recession by late 2025. The spat led to a 14% plunge in Tesla's stock, erasing over $150 billion in market value, and rattled broader market sentiment, though the direct impact on the overall US economy remains limited. For Indian IT sector investors, the episode underscores the risks of heightened US policy uncertainty and a potential slowdown in US economic activity, which could affect tech spending and outsourcing demand. While the immediate fallout is concentrated in Tesla and related stocks, investors should monitor US macro developments and corporate sentiment closely, as any US recession or policy volatility could have a knock-on effect on Indian IT exports. Q: There were some big winners this week like Cochin Shipyard, Brainbees and Sobha while MMTC, Suzlon and Waaree were among the worst losers. What should investors do with them along with Raymond post the carving out of the realty business? We can answer this by checking factor scores for these stocks using our research, which evaluates them across five key factors: Momentum, Value, Sentiment, Volatility, and stock is scored out of 5 on these factors, helping investors assess price trends, fair valuation, market perception, risk levels, and financial strength. By using these insights, investors can make informed decisions and identify strong opportunities in the current market. Cochin Shipyard : Factor Analysis Snapshot Momentum: 5/5 – Strong OutperformerCochin Shipyard is demonstrating robust momentum, significantly outperforming the market in recent sessions. The stock has delivered impressive returns, including a 22.88% gain in the past week, reflecting continued investor interest and positive price action. Value: 1/5 – Very ExpensiveThe stock appears highly overvalued relative to its fundamentals, with a Price-to-Earnings (PE) ratio of 74.75 and a Price-to-Book (PB) ratio of 11.09—both well above sector averages. This suggests investors are paying a premium for its growth prospects. Quality: 4/5 – Good QualityCochin Shipyard maintains solid financial health, with a strong return on equity and consistent profitability. The company has a low debt-to-equity ratio and has reported positive results for the last several quarters, underscoring its operational strength. Volatility: 3/5 – Slight Price FluctuationThe stock exhibits moderate price fluctuations, suggesting relatively moderate risk or moderate price stability Brainbees Solutions Ltd. (FirstCry): Factor Analysis Snapshot Momentum: 1/5 – Huge UnderperformerBrainbees Solutions Ltd. (FirstCry) is currently showing very weak momentum, significantly underperforming compared to its sector peers. Despite a minor daily gain, the stock has struggled to deliver positive returns over recent periods. Value: 1/5 – Very ExpensiveThe stock is considered highly overvalued based on its valuation metrics. Investors are paying a premium that is not justified by the company's recent performance, making it unattractive from a value perspective. Quality: 4/5 – Good QualityOn a positive note, Brainbees Solutions demonstrates strong business fundamentals. The company maintains good operational quality and financial health, which is reflected in its high quality score. Sentiment: 1/5 – Analysts Are Very BearishMarket sentiment and analyst outlook remain very negative. Most analysts are bearish on the stock's near-term prospects, indicating a lack of confidence in a potential turnaround. Sobha (SOBHA): Stock Analysis Snapshot Momentum: 3/5 – Market-Like PerformerSobha Ltd. has demonstrated moderate momentum, performing in line with the broader market. Value: 1/5 – Very ExpensiveThe stock is currently considered very expensive based on its valuation metrics. Investors are paying a significant premium, which may limit further upside unless earnings growth accelerates. Quality: 4/5 – Good QualitySobha Ltd. stands out for its strong business fundamentals and operational efficiency. The company's quality score reflects consistent financial performance and sound management practices. Volatility: 5/5 – Low Price FluctuationThe stock exhibits high price fluctuations, suggesting relatively higher risk or price instability Sentiment: 5/5 – Analysts Are Very BullishMarket sentiment is highly positive, with analysts expressing strong bullish views on Sobha Ltd. This optimism is likely driven by the company's quality and recent price performance. MMTC: Stock Analysis Snapshot Momentum: 2/5 – UnderperformerMMTC Ltd. is currently showing weak momentum, and underperforming its sector. Quality: 5/5 – Excellent QualityDespite recent financial setbacks, MMTC is rated highly on quality, reflecting strong fundamentals in certain areas and operational resilience. The company remains a significant player in its sector, though it has struggled with declining revenues and profits in recent quarters. Volatility: 2/5 – High Price FluctuationThe stock exhibits high price fluctuations, suggesting relatively higher risk or instability Suzlon: Stock Analysis Snapshot Momentum: 3/5 – Market-Like PerformerSuzlon Energy Ltd. is showing momentum in line with the broader market. Value: 3/5 – Fairly ValuedThe stock is considered fairly valued at current levels. While Suzlon's P/E ratio (around 43–59) is higher than the sector average, recent earnings growth and improved profitability help justify its valuation. Investors are neither paying a steep premium nor getting a deep discount. Quality: 5/5 – Excellent QualitySuzlon stands out for its strong financial turnaround and robust order book. The company has demonstrated operational efficiency and consistent earnings improvement, positioning it as a high-quality pick in the renewable energy sector. Volatility: 4/5 – Low Price FluctuationThe stock exhibits Low price fluctuations, suggesting relatively lower risk or stability in price Sentiment: 5/5 – Analysts Are Very BullishMarket sentiment is highly positive, with analysts expressing strong confidence in Suzlon's future prospects. Raymond: Stock Analysis Snapshot Momentum: 4/5 – OutperformerRaymond Ltd. has shown strong momentum, outperforming its sector in recent weeks. Value: 5/5 – Highly UndervaluedThe stock is rated as highly undervalued in the factor analysis, The current price-to-book ratio is also low compared to sector peers, further supporting its undervalued 4/5 – Good QualityRaymond demonstrates strong business fundamentals, with consistent profit and revenue growth. The company maintains a healthy return on equity and a manageable debt-to-equity ratio, indicating sound financial 3/5 – Slight Price FluctuationThe stock exhibits Moderate price fluctuations, suggesting relatively moderate risk or moderate price stability ( Disclaimer: Investments in securities are subject to market risks. Read all the related documents carefully before investing. All investors are advised to conduct their own independent research into investment strategies before making an investment decision. Past performance does not guarantee future returns.) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Entrepreneur
29-05-2025
- Business
- Entrepreneur
Home Hygiene Brand Cleevo Raises Funding Led by Eternal Capital
The fresh funds will be used to expand manufacturing 10X, invest in R&D, scale digital and B2B channels, enter global markets, and boost talent acquisition and brand-building efforts. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Home hygiene brand Cleevo has raised USD 1 million in a seed funding round led by Eternal Capital, with participation from Zeca Capital, DeVC, Utsav Somani (iSeed), Suhail Sameer (OTP Ventures), Sumit Jalan, Ajay Kumar (Action Tesa Group), Alok Mittal (Indifi), and members of the Venture Garage Network. The freshly secured capital will fuel Cleevo's next growth phase, powering a 10X expansion in manufacturing, deeper investments in research and development, and aggressive scaling across digital-first distribution channels, B2B pilots, and select international markets. The company will also direct funds toward talent acquisition and brand-building initiatives, aiming to deepen consumer engagement and amplify awareness. Cleevo was founded in 2022 by Mayank Jain and Karan Shah, combining their strengths in brand-building, business strategy, and manufacturing. The brand delivers non-toxic, high-performance home cleaning products in concentrate formats, rethinking traditional liquid cleaners that are inefficient, bulky, and environmentally taxing. "Home hygiene hasn't seen meaningful innovation in decades. We're still buying bottles that are 90% water and 10% performance, paying more for packaging and logistics than for effectiveness. Cleevo questions that model from the ground up," said Mayank Jain, Founder and CEO. "This fundraise isn't just about capital—it's validation of our mission to create smarter, safer, and more sustainable cleaning solutions." Cleevo's products are designed to reduce plastic waste, cut carbon emissions, and enable conscious consumption. The compact concentrates are easier to store, cheaper to ship, and perform better—without the ecological cost of traditional cleaners. Already, the brand has served over 1.5 lakh customers across India, gaining traction on Zepto, Amazon, Flipkart, and its own D2C platform. "Cleevo is proving that conscious cleaning doesn't need to be costly or inconvenient," said Dhruv Dhanraj Bahl, Managing Partner at Eternal Capital. "They're re-engineering every aspect of the category—format, logistics, and formulation—to make sustainability the new default." With innovation at its core and sustainability in its DNA, Cleevo is redefining what clean means for the modern Indian household.
Forbes
02-04-2025
- Business
- Forbes
The Prompt: Be Wary Of ‘Ghibifying' Your Selfie With ChatGPT
Welcome back to The Prompt, Data analytics giant Palantir is suing the founders of a fledgling startup called Guardian AI for allegedly stealing its trade secrets in order to start an AI company that helps hospitals fight insurance claim denials, Forbes reported. The lawsuit alleges that the company's cofounders Mayank Jain and Pranav Pillai incorporated their Y Combinator-backed startup days after leaving Palantir. 'There is no mistaking Defendants' work for anything but a rip-off of Palantir,' according to the suit. Now let's get into the headlines. BIG PLAYS Elon Musk's artificial intelligence company xAI acquired social media platform X (previously known as Twitter) in an all-stock transaction that valued X at $33 billion, said Musk. Both those companies are owned by Musk, the world's richest man. xAI was already training its models on the platform's data. The deal means that X's models, compute and talent will merge into xAI, which is now valued at $80 billion. X has been struggling with an exodus of users and advertisers after Musk bought the company in 2022, and it faces increasing competition thanks to the emergence of alternative platforms like BlueSky and Threads. SHOW ME THE MONEY Cloud compute provider CoreWeave went public on Friday, marking the first big IPO of the year. The company, which rents out access to its GPUs to AI companies like Microsoft, Mistral, Meta and Cohere, ended up pricing its shares at $40, below its target of $47 to $55, earning it a lower valuation than it had aimed for: $23 billion. Its share price closed at $52.27 today. Founded by three commodity traders who bought hundreds of Nvidia chips for bitcoin mining, CoreWeave pivoted to AI in 2019— a prescient decision that has made all its founders billionaires by Forbes estimates. BUSINESS Anthropic is pairing up with Databricks to sell its suite of AI models to that data analytics platform's thousands of customers that includes Conde Nast, Comcast and Block. The deal, which is worth $100 million, will allow enterprises to build AI agents —systems that can carry out specific tasks in departments like customer support and engineering— using Anthropic's technology. AI DEAL OF THE WEEK OpenAI closed a $40 billion funding round, which is said to be the largest private tech deal in history. But it comes with a catch: $30 billion of that amount will be released by the end of the year, but only if the ChatGPT maker restructures itself into a for profit entity, according to The Wall Street Journal. The investment, which is being led by SoftBank, values OpenAI at $300 billion. DEEP DIVE Thousands of people have used ChatGPT to create AI-generated Ghibli-style photos of themselves. Experts say it could be hamper data privacy. After OpenAI rolled out new image generation capabilities in ChatGPT last week, social media platforms like Instagram, Reddit and X were awash with AI-generated images that mimicked the style of popular Japanese animator Studio Ghibli, whose co-founder Hayao Miyazaki has famously called AI-generated art 'an insult to life itself' and has publicly been opposed to the use of artificial intelligence in art. OpenAI CEO Sam Altman and several other OpenAI executives have created and shared their own "ghiblified" images after the company has relaxed its policies over creating images in distinct artistic styles. These Ghibli-style AI-generated images have quickly gone viral as people have created thousands of portraits of themselves and their families. Others have used ChatGPT to depict movie scenes and historically significant moments like the 9/11 terrorist attacks and John F. Kennedy's assassination. Even the White House posted a AI Ghibli version of a photo of a crying woman being arrested by an ICE officer. The virality has drawn more people to ChatGPT, which OpenAI now claims has more than 500 million weekly active users. Altman posted on X that the trend has added 1 million users, resulting in GPU capacity issues. 'Our GPUs are melting,' he said. Many members of the creator community have voiced their concerns with AI companies like OpenAI training their models on copyrighted works including those from Studio Ghibli. 'Authors and artists are getting increasingly angry with the large-scale theft that is happening,' Ed Newton Rex, CEO of Fairly Trained said. But there are also significant privacy risks with uploading personal images and other sensitive data to ChatGPT. Rachel Tobac, a privacy researcher and CEO of SocialProof Security says some people who are using ChatGPT to create 'ghiblified' selfies might not be aware that the images they feed into it can be used by OpenAI to train future models, unless they've actively opted out of training. There is also a chance that a data breach could expose the images to the public. 'If you want to retain ownership of a photo, Ghiblifying it is not the way to go,' she said. 'Some people might think 'oh, wait a minute. I didn't realize they were going to be training the algorithm on the picture of my newborn. That kind of makes me uncomfortable.'' WEEKLY DEMO AI startup Runway, whose software is popularly used for field editing, has released a new AI system that it claims can generate videos of specific people, places and things that are consistent across different frames— something that AI models have long struggled to do. The underlying models are also better able to understand real world physics and represent them. MODEL BEHAVIOR Researchers from Dartmouth College released the results of the first ever clinical trials on generative AI-based therapy chatbot called Therabot. The study, which surveyed about 100 people diagnosed with depression, anxiety or an eating disorder, found that people diagnosed with depression experienced a 51% average reduction in symptoms and overall improvement in well being. That study comes as people increasingly turn to, and converse with, AI chatbots and virtual companion apps.
