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Chips, Stargate, DeepSeek keep Indian AI cos on edge
Hindustan Times Lucknow
|January 30, 2025
On Wednesday, before market opening, ₹8,200-crore AI cloud services firm Netweb Technologies issued a note to investors.
NEW DELHI: On Wednesday, before market opening, ₹8,200-crore AI cloud services firm Netweb Technologies issued a note to investors. Set against the backdrop of a sharp 48% decline in its stock price within just two weeks of trading, the note sought to assuage its investors that this decline was, in fact, a blip in the company's growth radar.
Titled 'Update on certain global developments in the space of AI and its impact on Netweb Technologies' business', the note claimed that the company is well-poised to capitalize upon the emergence of China's artificial intelligence upstart DeepSeek, which rained catastrophe on US tech giant Nvidia Corp on Monday by wiping out nearly $600 billion from its market cap.
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