Ather turns profitable after Rs 154 Cr loss; Meta plans to raise $35B for AI expansion

Dear Reader, 

MakeMyTrip is back in the black! The travel booking platform reported a net profit of $1.8 million in Q2 FY27, compared with a $5.7 million loss a year ago. Revenue rose 2.5% year-on-year to $235.2 million, or 11.2% in constant-currency terms, driven by increased bookings across categories.

Meanwhile, Anthropic, one of the leading artificial intelligence (AI) companies and the developer of the large language model Claude, has filed for an initial public offering (IPO), moving closer to becoming a publicly listed company. The company plans to list on the Nasdaq stock exchange under the ticker symbol ANT.

In other news, healthtech startup BioStack has raised $9.5 million in seed funding, led by Peak XV, with participation from Afore Capital, DCVC and other investors. The startup integrates fragmented clinical records to support healthcare research and clinical decision-making. It plans to use the funds to expand internationally, strengthen its technology and grow its engineering and research teams.

The AI infrastructure boom continues to gather pace. Tata Communications plans to invest $450 million to build a high-speed fibre network connecting AI data centres, catering to rising demand for AI and cloud computing infrastructure. The investment will expand its network capacity and enable faster, more reliable data transfer between data centres, which is critical for large-scale AI workloads. The move comes as technology companies ramp up investments in AI infrastructure, increasing the need for high-capacity connectivity alongside computing power. 

In a similar push to support AI expansion, Meta Platforms has launched stock and convertible preferred-stock offerings worth about $35 billion to fund its expanding AI infrastructure, including data centres and computing capacity. The Facebook and Instagram parent also plans a separate share-sale programme of up to $60 billion in 2027, potentially taking its planned equity fundraising to $95 billion.

In today’s newsletter:  

• Ather Energy swings to Rs 1.26 Cr profit in Q2
• QpiAI founder makes the case for intelligence modelling  

Here’s your trivia for today: Which country has more pyramids than Egypt? (Scroll down for the answer)

Electric Vehicle

Ather Energy swings to Rs 1.26 Cr profit in Q2

Electric two-wheeler maker Ather Energy reported a consolidated net profit of Rs 1.26 crore in Q2 FY27, compared with a net loss of Rs 154 crore in the year-ago quarter. The company’s total income rose 62% year-on-year (YoY) to Rs 1,527 crore, supported by growth in vehicle sales and operations. Ather’s performance reflects improving scale and operational efficiency as it works towards sustained profitability.

Key takeaways: 

• Ather Energy reported a net profit of Rs 1.26 crore in Q2 FY27, compared with a loss of Rs 154 crore a year earlier. 
• The company’s total income increased 62% YoY to Rs 1,527 crore during the quarter.
• Vehicle volumes grew 42% YoY to 93,211 units, indicating continued demand for the company’s electric two-wheelers.

TechSparks

QpiAI founder Nagendra Nagaraja makes the case for intelligence modelling 

Nagendra Nagaraja, founder, CEO and chairman of QpiAI, believes the future of artificial intelligence lies beyond language models and conventional computing. Speaking at TechSparks 2026, he advocated for “intelligence modelling” to discover new knowledge rather than simply automate tasks. He argued that quantum computing could help overcome the limitations of silicon chips and large language models by processing complex data found in nature.

Key takeaways: 

• Nagaraja said conventional AI relies heavily on digitised human knowledge and argued that intelligence modelling should focus on discovering what is not yet known. 
• He highlighted quantum computing’s potential to solve complex problems in areas such as agriculture, materials science, and financial fraud detection. 
• The Bengaluru-based company is producing 25-qubit and 64-qubit chips and building a 10-acre quantum data centre equipped with 100 quantum computers.

News & updates

• AI Copyright: Authentic Brands Group, which owns the rights to Elvis Presley’s music and likeness, has sued AI company Anthropic for allegedly using the singer’s songs to train its models without permission. The lawsuit accuses Anthropic of infringing the rights to 274 Presley songs.
• Oil Prices: Oil prices fell on Monday on hopes of easing US-Iran hostilities, after surging last week. However, continued attacks on Saudi Arabia kept markets on edge, with Brent crude down 1.35% to $115.15 a barrel and US WTI down 2.04% to $101.16, both near six-month highs. 

Which country has more pyramids than Egypt?

Answer: Sudan

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