Current Affairs - Business

Google entered into a major Cloud Service Agreement with SpaceX on June 5, 2026, to obtain computing capacity valued at $920 million per month. The contract is scheduled to run from October 2026 to June 2029 and includes access to approximately 110,000 NVIDIA GPUs, CPUs, and memory components. This infrastructure is intended to support Google's AI agent platform, Gemini Enterprise, by providing critical computing resources. The agreement highlights the growing demand for large-scale AI computing infrastructure and contributes significantly to SpaceX’s revenue from cloud and compute services, alongside other major technology partnerships.

Meesho partnered with the Bombay Stock Exchange (BSE) to launch Project Shikhar, an initiative aimed at supporting Micro, Small and Medium Enterprises (MSMEs) and digital-first businesses in accessing capital markets. The programme is designed to help high-performing e-commerce sellers transition from privately owned enterprises to publicly listed companies. Through guidance on compliance, corporate governance, regulatory preparedness, restructuring, and listing procedures, Project Shikhar seeks to simplify the public listing process. The initiative also promotes easier access to growth capital, enabling businesses to expand operations, improve transparency, strengthen governance standards, and enhance their credibility among investors and stakeholders.

Nibe Group entered into a joint venture with Israel’s Elbit Systems on May 25, 2026, to establish India’s first private propellant manufacturing facility in Shirdi, Maharashtra. The collaboration aims to strengthen India’s defence manufacturing ecosystem under the “Make in India” and “Atmanirbhar Bharat” initiatives. The facility will produce key materials such as nitrocellulose, nitroglycerine, and various types of propellants including single, double, and triple base variants. Elbit Systems will provide technical expertise, while Nibe Group will manage investment and operations. The plant is expected to support advanced defence production, including artillery systems, missile technologies, rocket systems, and autonomous defence platforms, enhancing India’s strategic self-reliance.

Steel Authority of India Limited (SAIL) signed a Memorandum of Understanding with EdCIL (India) Limited on May 26, 2026, to develop Smart Digital Classrooms under a Corporate Social Responsibility (CSR) initiative. The project aims to enhance inclusive education and improve learning outcomes by installing digital classrooms in schools located near SAIL’s operational areas. It aligns with the National Education Policy (NEP) 2020 and contributes to Sustainable Development Goal 4, which focuses on quality education for all. SAIL, a Maharatna CPSE under the Ministry of Steel, and EdCIL, a Miniratna CPSE under the Ministry of Education, are collaborating to strengthen educational infrastructure and promote equitable access to modern learning resources.

Johnnette Technologies signed a strategic Memorandum of Understanding (MoU) with Munitions India Limited (MIL) on May 27, 2026, aimed at integrating advanced warheads into unmanned combat systems. The collaboration focuses on JM-series loitering munitions and the development of future Unmanned Combat Aerial Vehicle (UCAV) programs. The agreement supports the creation of a fully indigenous supply chain for precision-strike munitions under the Aatmanirbhar Bharat initiative, reducing reliance on foreign defence components. Johnnette Technologies specialises in unmanned combat aerial systems and is led by founder and CEO Lt Cdr John Livingstone (Retd.), contributing to India’s growing defence innovation ecosystem.