It’s a wrap: News this week (Jan 1 — Jan 6)

There have been multiple developments this week on the tech front. From ISRO’s new launch to Intel’s AI company, this is the list of the most important developments for a quick catch-up:

Intel’s new AI company

US chipmaker Intel, on Wednesday, announced the formation of an independent company Articul8 AI focused on enterprise generative AI. DigitalBridge Ventures, the venture initiative of DigitalBridge is the lead investor in Articul8; other investors including Fin Capital, Mindset Ventures, Communitas Capital, GiantLeap Capital, GS Futures, and Zain Group have taken equity stake in the company.

Intel has not disclosed the value of the deal but has said that it would be a shareholder and that the firm will have an independent board of directors. Arun Subramaniyan, formerly vice president and general manager in Intel’s Data Center and AI Group will be Articul8’s CEO. 

KFin’s new platform

KFin Technologies, a technology-driven financial services platform, on Tuesday, introduced XAlt, an integrated fund administration platform designed specifically for Alternative Investment Funds (AIFs) in India. 

XAlt aims to simplify and streamline fund administration, catering to the needs of investors, fund managers, distributors, and regulators in this growing market. The platform offers solutions that enhance operational efficiency, including persona-based portals for different users, digital onboarding for investors and distributors, system integration, innovative commission processing, regular AML/KYC checks, and robust security measures. 

Gujarat draws interest from global chipmakers

Gujarat’s chief minister Bhupendra Patel said that the state is in investment talks with some chipmakers from Japan, Korea, and the US. He said that state officials have visited Japan to meet some of the industry executives there, as reported by Reuters.

To be sure, Micron’s $2.75 billion semiconductor assembly and testing lab is under construction at Gujarat’s Sanand. Government and company spokespersons have said that the plant will roll out India’s first chip in December 2024.

ISRO’s spacecraft for studying blackhole

ISRO began the year with yet another successful launch. The space agency launched the X-ray Polarimeter Satellite (XPoSat), the rocket that carries an observatory to study astronomical objects like black holes. The only second mission in the world of this kind, it was launched from Sriharikota spaceport. ISRO said that the mission will help in understanding black holes better. 

In related news, ISRO’s solar mission Aditya L1 will be making a crucial maneuver on January 6. With this, it will be placed in the final orbit. Aditya L1 was launched in September 2023 to be placed in the halo orbit around Lagrange 1.