Current Affairs - Business

Nvidia has recently overtaken Apple to become the world's most valuable company, reaching a market value of $3.53 trillion, slightly above Apple's $3.52 trillion. This significant shift in market value is attributed to the remarkable surge in Nvidia's stock price, driven by the increasing demand for its advanced supercomputing AI chips. Nvidia's rise to the top reflects the growing importance of artificial intelligence and technology in the current market landscape, as the valuations of major tech firms continue to fluctuate closely, highlighting a highly competitive environment among industry leaders.

Airbus recently inaugurated its India and South Asia Headquarters and Training Centre in the National Capital Region (NCR), signifying a substantial investment in India's aerospace sector. This state-of-the-art facility, equipped with A320 simulators, aims to train up to 800 pilots and 200 technicians annually, supporting India's growing aviation needs. Airbus CEO Michael Schoellhorn emphasized the importance of this centre as the core of Airbus’s mission in India, aligning with the country's aviation expansion plans and Airbus's ongoing collaborations with Indian aerospace entities, including partnerships with Air India and future development projects in Bengaluru.

Larsen & Toubro (L&T) has secured a significant order from ITER for a nuclear fusion project based in France. This project involves L&T’s expertise in assembling advanced components for the Vacuum Vessel, a crucial part of ITER’s Tokamak fusion reactor, which is essential for nuclear fusion experiments. Through this collaboration, formalized by an MoU, L&T will contribute to pioneering advancements in fusion technology, supporting global efforts in sustainable energy innovation.

Hindalco Industries, a leading player in the metals sector and part of the Aditya Birla Group, has joined the International Copper Association. As a major producer of copper and aluminium, Hindalco manufactures copper cathodes and continuous-cast copper rods for domestic and international markets. With the CEO of Copper Business being Rohit Pathak, the company's membership in ICA underscores its commitment to global cooperation and best practices in the copper industry. Founded in 1958, Hindalco has established itself as a key player in India's metals landscape.

Reliance Industries, led by Mukesh Ambani, has collaborated with Nvidia to establish a robust AI infrastructure in India, aligning with the Prime Minister's vision of self-sufficiency in AI development. This partnership leverages India's vast IT talent, digital data, and youthful population, aiming to position the country as a leading intelligence market. The initiative involves deploying Nvidia's GB 200 supercomputer technology for large-scale AI capabilities. With Jio's affordable data and robust connectivity infrastructure, Reliance Industries is poised to drive India's transformation into an intelligence-driven economy, which is estimated to generate immense value between $500 billion and $700 billion annually.