Current Affairs - Business

Nvidia has committed $100 billion to invest in OpenAI, aiming to deploy 10 GW of AI infrastructure by 2026. This strategic partnership will involve co-optimisation of hardware and software, enabling OpenAI to scale its AI models like GPT and Codex efficiently. The initiative positions Nvidia as the preferred compute and networking partner for OpenAI, strengthening its dominance in the AI chip market. By building dedicated AI infrastructure, OpenAI gains long-term access to the compute power required for next-generation AI models. This historic investment will also influence the global AI ecosystem, prompting other tech companies to rethink their AI infrastructure strategies.

Oil India Limited and Hindustan Copper Limited entered into a Memorandum of Understanding (MoU) to work together on the exploration of critical minerals. This collaboration particularly focuses on copper and its associated minerals, which are crucial for industrial growth and energy transition. The agreement also aligns with the objectives of the National Critical Mineral Mission, which is aimed at strengthening India’s mineral security. By engaging in this strategic partnership, Hindustan Copper and Oil India seek to ensure access to essential mineral resources, thereby supporting economic growth and technological advancement in the country.

SEBI has introduced SWAGAT-FI, a specialised framework designed to attract low-risk foreign investors, including sovereign wealth funds and pension funds. This framework aims to provide a more stable and investor-friendly environment by extending the registration period from 3 years to 10 years, thereby ensuring long-term participation in Indian markets. To further ease operations, a dedicated digital portal has been established, significantly reducing onboarding time to just one week. Additionally, it streamlines access to GIFT-IFSC, India’s international financial hub, making the investment process more efficient and transparent. This initiative strengthens India’s financial ecosystem globally.

The State Bank of India (SBI) sold a 13.18% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for ₹8,889 crore, marking one of the largest cross border deals in India’s banking sector. This transaction highlights growing global investor confidence in India’s financial reforms and the strengthening of strategic banking ties between India and Japan. The sale, which involved 413.44 crore equity shares, was completed after approvals from the RBI, CCI, and SBI’s board. Importantly, SBI retains a minority stake in Yes Bank, while SMBC now has clearance to raise its stake further, up to 24.99%.

Apollo Tyres secured the role of Team India’s lead sponsor after winning a highly competitive bidding process organized by the BCCI. The ₹579 crore agreement covers 121 bilateral matches and 21 ICC fixtures from 2025 to 2028, replacing Dream11 as the previous sponsor. Apollo Tyres outbid Canva and JK Cements, setting one of the highest sponsorship values in Indian cricket history. This partnership provides Apollo with prime visibility on the Indian team’s jerseys across some of the most globally watched cricket tournaments, enhancing its international recognition and expanding its market presence in over 100 countries.