Indian used-car platform Spinny has converted its parent, Valuedrive Technologies, from a private limited to a public limited company ahead of its planned $300 million (over ₹2,800 crore) IPO. This is a mandatory step before filing a Draft Red Herring Prospectus with SEBI. The company reportedly appointed Morgan Stanley, Kotak Mahindra Capital, and Citi India as advisers for the listing.

Chinese AI startup DeepSeek on Friday launched its V4-Flash model, which research firm Artificial Analysis named the cheapest AI model to run. Averaging three cents per benchmark test, it is over 100 times cheaper than Anthropic's Claude Fable 5. V4-Flash matched Google's Gemini 3.6 Flash on intelligence tests, while DeepSeek, according to official sources, is reportedly preparing for an IPO.

People in India spent a record $345 million on in-app purchases in Q2 2026, up 35% year-on-year. App downloads also crossed 6.6 billion, with non-gaming apps generating nearly $240 million in revenue. AI apps saw sharp growth, with Anthropic's Claude recording a more than 19-fold jump in revenue, highlighting rising demand for premium AI tools and services.

The government has hiked windfall gains tax on exports of petrol, diesel and ATF from August 3. The tax on diesel exports has been hiked from ₹15.5/litre to ₹24/litre, while that on ATF exports has been hiked from ₹14.5/litre to ₹22/litre. Duty on petrol exports has been raised from ₹2.5 per litre to ₹3.5 per litre.

Amazon surpassed $3 trillion in market capitalisation for the first time on Monday, becoming only the fifth company to reach the milestone. Shares of the e-commerce giant rose over 5% to a record high of $286 in early trading. The stock had also surged 15% on Friday after the company reported its strongest cloud growth in more than four years.

In a post, a startup's Founder said, "We imported two Nvidia Jetsons. It's been held up at Customs for two weeks now. Reason? They want us to give them three certificates...The thing is, it doesn't apply to us." "Building in India is an absolute pain in the a**," he added. The consignment got cleared after his post.

Sarvam AI's board has approved raising $74 million (around ₹700 crore) from NVIDIA, Glade Brook Capital and other investors, according to regulatory filings. The funding is part of the Indian AI startup's Series B round, under which it previously raised $234 million. According to Entrackr, the latest investment will value Sarvam AI at around $1.51 billion on a post-money basis.

Indian-origin entrepreneur Balaji Srinivasan, who plans to start a new country for techies by building Network School, has been asked to shut his institution in Malaysia. Srinivasan announced he's moving his new country's plans to Kazakhstan, hours after his school was ordered to shut down. Malaysia issued the order over online allegations that Israeli nationals had joined the Network School.

Blackstone-backed Aadhar Housing said it does not expect to raise fresh capital for at least the next four years, citing a capital adequacy ratio of 40%. CEO Rishi Anand said the company aims to grow its loan book by 20-22% annually and add 50 branches each year through FY27. It currently operates 628 branches, mainly in smaller towns.

Google has reduced the scope of a major IT contract with HCLTech by about one-fourth, cutting work worth nearly $50 million (₹477 crore), The Economic Times reported. The reduction affects a project valued at around $200 million annually and reflects rising automation and AI-driven efficiencies. Around 1,000 employees on the Google account will be redeployed to other roles within HCLTech.