The Indian government lowered its IndiaAI Mission qualification threshold to 512 computing chips per local data centre, seeking to speed up the rollout of 10,000 graphics units amid rising costs. In the private sector, Lenskart more than doubled its quarterly net profit to Rs 232 crore as it scales supply chains to tap into India's vast pool of spectacles wearers. Concurrently, enterprise platform Freshworks generated $245.4 million in quarterly revenue, returning to profitability while deploying $232 million into share buybacks.
Key points
Policy adjustments under the Rs 10,000 crore IndiaAI Mission aim to ease vendor entry, th…: Policy adjustments under the Rs 10,000 crore IndiaAI Mission aim to ease vendor entry, though bidders still worry about compute demand guarantees.
Lenskart is prioritizing domestic manufacturing and supply chain investments to close the…: Lenskart is prioritizing domestic manufacturing and supply chain investments to close the gap between its current unit sales and 200 million target customers.
Enterprise software clients are accelerating artificial intelligence adoption while deman…: Enterprise software clients are accelerating artificial intelligence adoption while demanding verified productivity metrics before committing their technology budgets.
Sources checked by our analysis pipeline: 1
Business News›Tech›Newsletters›Morning Dispatch›GPU bidding norms eased; Lenskart CEO on profitability
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GPU bidding norms eased; Lenskart CEO on profitability
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Happy Thursday! The government has lowered entry barriers for GPU bidders, but pricing concerns remain. This and more in today’s ETtech Morning Dispatch.
Also in the letter:
■ Nykaa Q2 profit triples
■ Freshworks CEO on AI spending
■ BharatPe's wealth play
The government has relaxed some key procurement terms and conditions in its latest efforts to procure 10,000 fresh GPUs, aiming to make it easier for companies to offer compute as part of the IndiaAI Mission.
What has changed: Under the new framework, providers can qualify with a minimum capacity of 512 GPUs or TPUs or other hardware used for AI workloads at a single data centre location in India against the requirement of 1,000 mandated earlier.
Why it matters: The first phase of procuring GPUs under the…
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