Current Affairs - Business

OpenAI secured a significant $200 million contract from the U.S. Department of Defense in June 2025 to develop cutting-edge artificial intelligence solutions for national security and military operations. This strategic partnership, set to run through July 2026, highlights the growing collaboration between top AI firms and defence agencies. The contract focuses on creating prototype frontier AI tools applicable to warfighting and enterprise domains such as logistics, intelligence, and operations. With OpenAI’s rapid growth—demonstrated by its $10 billion annual revenue run rate and 500 million weekly users—this deal marks a pivotal step in the company’s expansion into defence technology and AI-driven national security systems.

Tata Consultancy Services (TCS), a leading Indian IT firm, has partnered with the Council of Europe Development Bank (CEB) to enhance the bank’s financial operations through automation and artificial intelligence. The partnership aims to modernise the reconciliation process using TCS BaNCSTM for Reconciliations, an advanced solution that automates transaction matching, exception handling, and reporting. This collaboration not only boosts efficiency and transparency in banking operations but also reflects the growing role of Indian technology in driving digital transformation in global financial institutions. The system will help reduce manual effort, improve decision-making, and align with CEB’s development-focused mission across Europe.

Shell India has collaborated with the Ministry of Skill Development and Entrepreneurship (MSDE) to roll out a comprehensive training programme aimed at equipping Indian youth with skills in electric vehicle (EV) technologies and green energy. Implemented through the Directorate General of Training (DGT), this initiative covers areas such as EV systems, battery diagnostics, and safety protocols. It targets key industrial states including Delhi-NCR, Gujarat, Maharashtra, Tamil Nadu, and Karnataka. The programme supports India's clean energy goals by fostering a job-ready, climate-conscious workforce, aligning with the country’s net-zero emissions vision and addressing the growing demand for skilled professionals in the green mobility sector.

Singareni Collieries Company Limited (SCCL) has taken a significant step by signing a memorandum of understanding with the Institute of Minerals and Materials Technology (IMMT), based in Bhubaneswar. This agreement allows SCCL to enter the critical minerals sector, focusing on the exploration and production of valuable resources using advanced technologies. These critical minerals are vital for various high-tech and clean energy applications. Through this MoU, SCCL aims to enhance its resource base and contribute to the strategic mineral supply chain, underlining the growing importance of indigenous capabilities in securing future mineral needs.

Amazon has entered into a long-term nuclear energy agreement with Talen Energy to power its AWS data centres with electricity from the Susquehanna nuclear plant in Pennsylvania. The deal, which will last until 2042, aims to supply up to 1,920 megawatts of power. Additionally, Amazon and Talen plan to collaborate on future energy initiatives, including exploring the development of new Small Modular Reactors. This strategic move underscores Amazon's commitment to cleaner energy sources and highlights the growing role of nuclear power in supporting the infrastructure needs of major tech companies.