Daily Strategic Briefing

India hails 'first' home-grown chip as a milestone despite very modest specs

It’s been to space. It likely won’t launch India as a semiconductor superpower India’s government yesterday celebrated an “important milestone” in the development of its semiconductor industry, and therefore the nation’s ambition to become a global contender, but the celebrations seem premature because the chip that was the star of the show is nothing special.…

Judge who ruled Google is a monopoly decides to do hardly anything to break it up

Ad giant won't be broken up, forced to offload Chrome or Android, thanks to AI Champagne will be flowing at Google HQ after US District Judge Amit Mehta decided to do very little to rein in the monopolistic web giant.…

How big will this Drift get? Cloudflare cops to Salesloft Drift breach

Show of hands: who WASN'T targeted? The list of victims keeps growing, as yet another company — Cloudflare — today disclosed that some of its customers' data was also compromised in the Salesloft Drift breach.…

Who watches the watchmen? Surveillanceware firms make bank, avoid oversight

Enough governments love it and it's highly lucrative Governments can't get enough of hacking services to use against their citizens, despite their protestations that elements of the trade need sanctioning.…

Biden stopped ICE from buying Israeli spyware, but Trump admin allows it to proceed

Privacy advocates don't care if Paragon is based in the US now - they still don't want ICE armed with spyware ICE may soon have a new weapon in its arsenal. The White House has reversed a Biden-era decision to suspend the Immigration and Customs Enforcement (ICE)'s purchase of software from commercial spyware maker Paragon Solutions.…

OpenAI to route sensitive conversations to GPT-5, introduce parental controls

Summary:

OpenAI said Tuesday it plans to route sensitive conversations to reasoning models like GPT-5 and roll out parental controls within the next month – part of an ongoing response to recent safety incidents involving ChatGPT failing to detect mental distress.

Amazon launches Lens Live, an AI-powered shopping tool for use in the real world

Summary:

Lens Live will not replace Amazon’s existing visual search tool, Amazon Lens, which lets you take a picture, upload an image, or scan a barcode to discover products. Instead, it brings a real-time component to Amazon Lens.

OpenAI acquires product testing startup Statsig and shakes up its leadership team

Summary:

OpenAI is bringing on the founder of Statsig as its CTO of Applications, and making changes to other leadership roles at the company.

Tesla’s Dojo, a timeline

Summary:

Musk teased Dojo for years and ramped up discussions about the supercomputer throughout 2024. But Dojo is now out, and another supercomputer called Cortex has entered the chat.

Anthropic raises $13B Series F at $183B valuation

Summary:

AI firm Anthropic’s $13 billion Series F round will be used to grow its enterprise adoption, deepen safety research, and support international expansion. 

PlatinumRx is betting on generic substitutes to cut India’s soaring medicine bills

The Bengaluru-based online pharmacy, which has raised $6 million funding led by Stellaris Venture Partners, wants to break India’s branded generics cartel with cheaper, vetted substitutes for chronic care patients.

WizCommerce raises $8M in Series A funding led by Peak XV

The AI-powered sales and ecommerce platform for wholesalers will use the funding to hire more talent, build and launch AI employees for wholesalers, and improve its current product offerings.

Investor BizDateUp gets SEBI approval for Rs 1,000 Cr alternative investment fund

This fund will deploy 50% of the capital into startups, with the rest to be disbursed across SMEs and real estate.

Short-form video learning platform Seekho bags $28M led by Bessemer

Seekho plans to invest in new content formats, primarily powered by AI, blending video with interactive elements to create more personalised learning journeys.

Palmonas raises Rs 55 Cr in Series A round from Vertex Ventures

Palmonas will use the capital to make demi-fine jewellery a household name in India and take everyday luxury to global markets.

L&T Tech Partners for AI in Mobility, Healthcare

L&T Tech partners with a Silicon Valley firm to create AI solutions. The collaboration targets advancements in mobility and healthcare sectors. Source: ScoutQuest

ACME Solar Bags 50 MW Project at ₹4.43/unit

ACME Solar wins 50 MW FDRE project from Tata Power D at INR 4.43/unit. Project requires 40% CUF, combines solar and storage, with a 25-year PPA. Source: ScoutQuest

LTTS, SiMa.ai Partner for AI in Mobility & Healthcare

LTTS partners with SiMa.ai to develop AI solutions in mobility, healthcare, and industrial automation. Collaboration combines LTTS engineering with SiMa.ai's AI platform, focusing on autonomous systems and robotics. Source: ScoutQuest

Jana, Ujjivan SFBs Eye Universal Bank Shift

Jana and Ujjivan SFB may bypass promoter ring-fencing for universal bank transition. RBI framework ensures strong governance; Jana and Ujjivan comply via distinct structures. Source: The Economic Times

CRISIL Upgrades Hind Rectifiers to BBB on Strong Margins & Order Book

CRISIL upgraded Hind Rectifiers' long-term rating to BBB and short-term to A2. Upgrade reflects improved margins, revenue, stronger order book, and adequate liquidity. Source: ScoutQuest

New Zealand Dollar Holds Losses

Country: New Zealand, Description: The New Zealand dollar held its recent decline to around $0.585 on Wednesday amid mounting expectations of further policy easing by the Reserve Bank, given the amount of slack in the domestic economy. Recent data showed a sharp fall in export volumes during the June quarter, while import volumes rose significantly, indicating that trade likely weighed heavily on GDP. Currently, analysts are anticipating two more rate cuts, which would bring the cash rate down to 2.50% — the lowest level since mid-2022. However, downside pressure on the kiwi was partly offset by broader US dollar weakness, as traders raised bets on a Federal Reserve rate cut later this month while concerns about the Fed’s independence lingered. Back at home, investor attention is turning to the upcoming appointment of a new RBNZ governor, with Prime Minister Christopher Luxon signaling that a decision could be announced within weeks.

Hong Kong Stocks Extend Falls

Country: Hong Kong, Description: Equities in Hong Kong slipped 66 points or 0.3% to 25,438 in early trade on Wednesday, marking losses for the second consecutive session after a weak lead from Wall Street overnight, where investors weighed the outlook for President Donald Trump’s tariffs following a federal appeals court ruling that most of his sweeping measures were illegal. A further drop in mainland shares also dampened sentiment, even as a private survey showed China’s composite PMI rose to a 9-month high in August, pointing to a third straight month of private sector growth on broad-based gains in manufacturing and services. Property stocks led declines, with Swire Properties down 3.4%, followed by Henderson Land Development (-2.9%), and China Overseas Land (-0.9%). By contrast, tech and consumer names advanced as markets looked ahead to Chinese President Xi Jinping’s address at the country’s largest-ever military parade today, joined by Russia’s Vladimir Putin and North Korea’s Kim Jong Un.

Japanese Yen Slips on Political Uncertainty

Country: Japan, Description: The Japanese yen weakened toward 149 per dollar on Wednesday, touching a one-month low as political uncertainty pressured the currency. Ruling party secretary general Hiroshi Moriyama, a close ally of Prime Minister Shigeru Ishiba, said he would resign, fueling speculation about Ishiba’s future as calls to step down mount after an election defeat. One key contender to succeed him, Sanae Takaichi, is regarded as supportive of low interest rates. Meanwhile, Bank of Japan Deputy Governor Ryozo Himino reiterated Tuesday that the central bank should continue raising rates gradually but stressed that global risks remain high, signaling no urgency for aggressive tightening. Investors now await the latest wage data this week for guidance on the policy outlook.

China’s 10-Year Yield Extends Fall to 1-Week Low

Country: China, Description: China’s 10-year government bond yield dropped to around 1.76% on Wednesday, extending losses from the previous session and hitting a one-week low, as investors sought safer assets amid escalating geopolitical tensions. During the "Victory Day" parade, President Xi Jinping stated that the world stands at a crossroads between "peace and war" and "dialogue and confrontation." His remarks came after a statement by US President Donald Trump, who urged Xi to acknowledge America’s role in securing China’s wartime freedom and accused Beijing of orchestrating actions against Washington—further intensifying already strained US-China relations. On the domestic economic front, a private survey showed that China’s Composite PMI jumped to a nine-month high of 51.9 in August 2025, primarily driven by an improvement in manufacturing activity, which rose to a five-month high (50.5 vs 49.5), while the services sector accelerated to its strongest level in over a year (53 vs 52.6).

Offshore Yuan Falls as Geopolitical Risks Rise

Country: China, Description: The offshore yuan depreciated past 7.14 per dollar on Wednesday, marking its third consecutive session of losses as market sentiment remained sour amid growing geopolitical risks following remarks by President Xi Jinping. Speaking at the “Victory Day” parade, Xi issued a stark warning that the world faces a critical choice between "peace or war" and "dialogue or confrontation." At the same time, he pledged to strengthen China’s military capabilities. His remarks followed a post by US President Donald Trump, who urged Xi to credit America for China’s wartime freedom and accused Beijing of conspiring against Washington, further straining US-China relations. Meanwhile, the yuan's decline was partially cushioned by upbeat PMI data. A private survey showed that China’s Composite PMI rose to a nine-month high of 51.9 in August 2025, as manufacturing activity improved to a five-month high (50.5 vs 49.5), while the services sector further strengthened to a more than one-year high (53 vs 52.6).

China unveils advanced military tech at Victory Day parade

Summary: The 70-minute spectacle showcased stealth drones, anti-satellite systems and laser weapons while hosting Putin and Kim Jong Un., Description: China unveiled a sweeping array of advanced military technologies during its 2025 Victory Day parade on September 3, marking the nation's most ambitious showcase of defensive capabilities in decades. The display commemorating the 80th anniversary of Japan's surrender in World War II revealed aerospace cyberspace forces, anti-UAV systems, and cutting-edge electronic countermeasures that signal...

UK may import 70% of oil and gas by 2030 without reforms

Summary: Industry warns North Sea production could fall 40% in five years without investment changes, citing windfall tax as key obstacle., Description: The UK faces a stark warning from industry leaders that it could be forced to import 70 percent of its oil and gas needs by 2030 unless investment conditions improve dramatically in the North Sea. The projection comes from Offshore Energies UK's 2025 economic report, released at the organization's Aberdeen conference this week, as the country grapples with record-low domestic energy production...

Trump grows frustrated as Putin avoids Ukraine talks

Summary: Treasury Secretary confirms "all options are on the table" for sanctions as Russia intensifies bombing campaign despite Alaska summit commitments., Description: President Donald Trump has expressed mounting frustration with Russian President Vladimir Putin as diplomatic efforts to resolve the Ukraine war remain stalled more than two weeks after their much-publicized Alaska summit. The president's repeated declarations of being "very disappointed" with Putin signal a potential shift toward imposing the economic sanctions he has long threatened against...

Apple loses AI robotics chief and three more experts to Meta

Summary: Jian Zhang led Apple's robotics AI research for a decade before joining Meta's Robotics Studio amid ongoing talent exodus., Description: Apple faces another wave of artificial intelligence talent losses as the company's lead robotics AI researcher and three additional AI experts have departed for Meta and rival firms, intensifying a brain drain that has plagued the iPhone maker throughout 2025. Jian Zhang, who led Apple's robotics AI research team for a decade, joined Meta's Robotics Studio on Tuesday, marking the latest...

German team wins top award for quantum-supercomputer bridge

Summary: Technical University of Munich researchers developed sys-sage, a tool enabling quantum computers and supercomputers to work together seamlessly., Description: A German research team at the Technical University of Munich has developed sys-sage, a groundbreaking tool that enables quantum computers and supercomputers to work together seamlessly. The innovation addresses one of the biggest challenges in quantum computing: integrating these powerful but fundamentally different systems with existing high-performance computing infrastructure. The tool,...