Dear Reader,
The AI gold rush is running into a reality check, and the pressure is beginning to show across technology and crypto.
Anthropic’s much-anticipated Nasdaq debut is facing a tougher road after a week of market jitters over the cost of the AI boom. Its prospectus has impressed investors with reported annual sales growth of 1,300%, but its substantial computing commitments and losses have raised questions about whether surging demand can translate into a sustainable business.
Earnings from key partners Microsoft, Google and Amazon have added to the uncertainty, with massive infrastructure spending weighing on cash flow, even as cloud growth remains strong. Investors are now weighing the opportunity against the risks, just as Anthropic prepares for a potentially record-setting IPO.
The nerves have also reached OpenAI. According to The Financial Times, the ChatGPT maker has cut its latest funding target by $10 billion to around $20 billion, while lowering its desired valuation to $1.25 trillion from $1.4 trillion. The move comes amid a technology sell-off, with investors becoming more cautious about the huge sums being poured into AI.
Meanwhile, crypto has its own security headache. Following a reported $6.3 billion hack at Binance, rival exchanges including Coinbase and Kraken are strengthening their defences. Executives are also calling for faster information-sharing and coordinated responses, as the industry faces growing pressure to prove it can protect customers and stolen assets.
In today’s newsletter, we will talk about
- TVS Capital’s Rs 750-crore private-credit bet
- What makes people pay attention to content?
Here’s your trivia for today: What was Google’s search engine originally called? (Scroll down for the answer)
Investment
TVS Capital’s Rs 750-crore private-credit bet
TVS Capital has launched TVS Alts, a private-credit platform targeting Rs 750 crore, with a green-shoe option lifting its potential corpus to Rs 1,250 crore. The fund awaits SEBI approval and will lend to performing firms, courting domestic institutions and corporates.
Key takeaways:
- The fund plans secured loans of Rs 40 crore to Rs 100 crore, targeting returns of about 17% and financing bridge needs, pre-IPO activity, mergers and acquisitions.
- TVS Capital owns 90% of the platform, while co-founder Shyam Srinivasan holds the rest and is leading the venture. Manish Makaria has been named Managing Partner.
- India’s private-credit market saw $3.5 billion invested across more than 100 deals in H1 2026. Domestic funds supplied 74% of deal value, amid fresh rival fundraises.
TechSparks
What makes people pay attention to content?
At TechSparks 2026, leaders from HT Media Labs, Inshorts, and Eloelo Group discussed why credibility, human creativity, and audience-first formats will matter as content creation scales.
The conversation explored how formats shape the way audiences consume content, what makes a format resonate in an increasingly crowded digital landscape, and why the format itself can be as important as the content it carries.
Key takeaways:
- Format, distribution, personalisation and the relationship with the consumer are congruent and they co-exist. All of them need to be married in a particular combination to get a person’s attention, said Avinash Mudaliar, Co-founder and CEO of HT Media Labs and the creator of the retro-styled portable music player Saregama Carvaan.
- Deepit Purkayastha, Co-founder and CEO of digital media and news aggregator company Inshorts, said while AI platforms are increasingly meeting consumers’ on-demand information needs, people still want real-time updates.
- For GSN Aditya, COO of entertainment tech company Eloelo Group, micro-drama economics have created opportunities to tell stories for more specific audiences rather than chase mass appeal.
News & updates
- AI training: MeitY launched a DEPA handbook to enable secure, trusted data sharing for AI training, helping institutions collaborate while protecting privacy, intellectual property and data control.
- Tata Group: SEBI chief Tuhin Kanta Pandey said the regulator is monitoring Tata Group’s governance developments, while stressing that its listed companies must comply with disclosure and regulatory norms.
- Local production: Omron Healthcare opens its first India factory near Chennai, aiming to boost local production from 300,000 to 3 million units annually and begin European exports by 2027.
Did you know?
What was Google’s search engine originally called?
Answer: BackRub
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