In a bold move, a Delhi-based app developer purchased the domain name "jiohotstar.com" and tried to negotiate a deal with Reliance, hoping to use the profits to fund his studies at Cambridge. However, after being denied by Reliance, the developer shared updates on social media, revealing that the company has threatened legal action. This news adds to the speculation surrounding a possible merger between Jio and Disney's Hotstar platform, which has recently been approved by the Competition Commission of India. In the midst of this, Nita Ambani is rumored to be the chairperson of the newly formed entity, further solidifying Reliance's dominant position in the Indian OTT space.
Reliance-Disney Merger: Controversial Domain Name Purchase Sparks Legal Threat
In a recent development surrounding the proposed merger between Reliance Industries' Jio and Disney's Hotstar, a Delhi-based app developer has ignited controversy by purchasing the domain name "jiohotstar.com."
Background:
Domain Name Controversy:
Social Media Outcry:
Pal took to social media to share his experiences, revealing that he had received a legal notice from Reliance. The incident sparked an outcry among some who questioned Reliance's handling of the situation.
Speculation and Rumors:
The controversy has fueled speculation about the potential merger between Jio and Hotstar. Some believe that Reliance's legal threat could indicate a desire to control the domain name ahead of the merger.
Top 5 FAQs:
Conclusion:
The controversy surrounding the "jiohotstar.com" domain name has raised questions about the upcoming merger between Jio and Hotstar. While the legal implications remain uncertain, the incident has highlighted the complexities and potential challenges facing the Indian OTT market.
The stock market experienced a spike in futures on Thursday after Tesla reported better-than-expected profits and a promising outlook for electric vehicle sales. Nasdaq 100 futures rose by 0.8% and S&P 500 futures saw a 0.4% increase, while Dow Jones Industrial Average futures struggled to keep up with a minor decline of 0.2%. This surge in the tech-heavy Nasdaq index was largely attributed to Tesla's impressive earnings performance and market reaction. In light of this, other tech giants such as Amazon and Meta also saw a boost in premarket trading. However, not all companies were met with positive news, as Boeing stocks saw a 3% dip after a rejected pay deal from workers. This news, combined with a possible delay in interest rate cuts from the Federal Reserve, sets the stage for a volatile trading day on Wall Street.
Mumbai-based solar energy company Waaree Energies has successfully raised Rs 4,321.44 crore through its highly subscribed IPO, reflecting investor confidence in the company. The IPO, which saw a strong response and was open for bidding from October 21 to October 23, garnered over 105% potential returns for investors with shares commanding a premium in the grey market. The proceeds from the IPO will primarily be used to develop a new manufacturing facility and for general corporate purposes.
At the Nvidia Summit 2024 in Mumbai, Nvidia CEO Jensen Huang met with Reliance chairman Mukesh Ambani to discuss India's potential to become a center of AI. With Reliance's strong resources and investments in AI infrastructure and Nvidia's interest in utilizing the country's fast-growing digital economy, India has become a key player in global AI ambitions. This partnership could lead to significant rewards for both companies, as India's emergence as a top player in the AI race opens new opportunities and access to a vast user base and dataset for training AI models.
NVIDIA has reaffirmed its partnership with Reliance Industries to develop an advanced AI infrastructure in India. At the company's AI summit, CEO Jensen Huang emphasized India's potential in AI and its collaboration with Reliance, while company chairman Mukesh Ambani highlighted the crucial role of Jio's infrastructure in making India a global AI hub. The partnership would also train developers in India and develop a large language model tailored for Indian needs. This move comes as India aims to become a world leader in semiconductor manufacturing and AI through public-private partnerships.
In a groundbreaking partnership between two major companies, Reliance Industries and Nvidia are set to collaborate on developing artificial intelligence infrastructure in India. This comes as a result of the growing demand for AI technology in the country, with RIL Chairman Mukesh Ambani emphasizing on India's large population of computer engineers. With the backing of Prime Minister Narendra Modi and Nvidia's advanced computing system, the country is poised to become a major player in the global AI market.
During a conversation with Nvidia CEO Jensen Huang, Reliance Industries Limited (RIL) chairman Mukesh Ambani explained the meaning behind the chip company's name. He revealed that in Hindi, Nvidia's name translates to "knowledge", and that their partnership will drive the knowledge and intelligence revolution in India. Meanwhile, Huang shared an update on their Blackwell chips, crucial for their upcoming GPU architecture, which will be available for shipping in the fourth quarter.
Boeing factory workers have been on strike for six weeks, rejecting the company's latest contract offer which would have restored pay and pensions. Union leaders report that 64% of workers voted against the proposal, citing their ongoing demands. The strike has already impacted production and the company's finances, as Boeing reported a $6 billion loss in the third quarter. CEO warns of potential layoffs and setbacks in the rollout of new planes.
NVIDIA, the world’s second most valuable company, is hosting its first-ever AI summit in India today. The summit will cover topics such as building AI infrastructure, utilizing foundational models for Indian languages, and upskilling developers. CEO Jensen Huang will be joined by Reliance Industries’ Mukesh Ambani in a discussion about India’s potential in the AI industry. Zoho Corporation has already announced its plans to invest in custom language models and utilize NVIDIA's AI Enterprise software.
Systematix Corporate Services, a leading Indian financial services company, announced a 1:10 stock split and a dividend of ₹1 per equity share for the fiscal year ending March 2024. The company hopes to increase share liquidity and attract a broader investor base with the split. Its stock has returned over 400% in the last three years and continued to rise with a year-to-date gain of 182% as of September 2024.