It’s a wrap: News this week (Feb 8 – Feb 14)

There have been multiple developments this week on the tech front. From new deals to semiconductor investments in India, here is a list of the most important updates for a quick catch-up:

TCS signs deal with Oman’s MCD, UPM

TCS has signed a digital transformation agreement with Oman’s central securities depository Muscat Clearing and Depository (MCD). Under the agreement, TCS will implement its software suite TCS BaNCS for market infrastructure and Quartz to future-proof MCD’s operations.

MCD provides comprehensive Clearing, Settlement & Depository (CSD) services to all market participants. The partnership is expected to help MCD with TCS’ global expertise and ability to offer new services to the market such as collateral management, central counterparty clearing, and risk management. TCS will also implement its digital and cloud-enabled solutions to transform customer experience and meet MCD’s transformation objectives.

TCS has also signed an agreement with UPM to modernize its IT infrastructure. UPM is a global company focused on decarbonization solutions, advanced materials, renewable fibers, and communication papers. The partnership aims to improve operational efficiency and user experience while adopting an AI-driven model. 

Verint, Anaptyss to expand India workforce

Customer experience (CX) automation services provider Verint Systems has announced that it will be adding 300 new employees by 2026. This will take the India headcount of the New York-headquartered firm to 1,000, accounting for one-fourth of its total workforce globally. 

This recruitment drive will focus on attracting talent in AI, data science, research, and more, contributing to local employment and economic development. Every year, the company is growing its workforce strength by 15-20%.

Additionally, US-based digital solutions provider Anaptyss is also planning to double its workforce in India by 2027 as part of its expansion. The company plans to hire over 600 professionals across multiple cities, including Gurugram, Noida, Pune, Kolkata, Hyderabad, Bengaluru, and Jaipur. This hiring drive will focus on attracting specialised talent in areas such as Model Risk Management, Credit Risk Management, Cryptocurrency, Fraud Analytics, and Fund Management.

Lam Research to invest in India

US-based chip toolmaker company Lam Research announced that it will invest ₹10,000 crore ($1.2 billion) in the next few years in Karnataka. The announcement was made at the 'Invest Karnataka' event on Tuesday. Lam Research said it has signed a memorandum of understanding (MoU) with the Karnataka Industrial Area Development Board (KIADB) for the investment.

Further, this week, semiconductor design firm ASM Technologies, announced signing of MoU with the Government of Karnataka whereby. Under the MoU will invest ₹510 crore in the state to expand its ESDM related Design-Led Manufacturing and precision engineering capacity. 

AMD partners with GoI to launch supercomputer

AMD, in collaboration with the Ministry of Earth Sciences (MoES) in India, on Monday launched two high-performance supercomputers—Arka and Arunika — to address climate-related challenges. These computing clusters, named after the Sun, were officially inaugurated by Prime Minister Narendra Modi in September last year.

Arka and Arunika rank among the top three supercomputers in India and stand out as the nation’s most powerful CPU-based systems. Unlike other supercomputers that rely on GPU-based computing for enhanced performance, these systems achieve top-tier efficiency exclusively through CPU processing.