By the time this column appears, the world will feel very different from when my previous column appeared earlier this month. In just days, a conflict that some in Washington seemed to believe would quickly topple Iran’s leadership has instead become a potentially long and uncertain war, with little clarity on how or when it will end. The front lines will have shifted, more oil tankers will have b...
By the time this column appears, the world will feel very different from when my previous column appeared earlier this month. In just days, a conflict that some in Washington seemed to believe would quickly topple Iran’s leadership has instead become a potentially long and uncertain war, with little clarity on how or when it will end. The front lines will have shifted, more oil tankers will have been stuck at sea and more flights cancelled, and there will almost certainly have been further civilian deaths in what is, at its core, a war of choice. Events are moving faster than governments – or markets – seem able to absorb. We last felt this kind of shock in 2020, during the Covid-19 pandemic. Hong Kong, like many places, discovered how quickly an unseen threat could upend trade, travel and daily life. This time, however, the shock is man-made, radiating from the Gulf and Levant through the energy markets, shipping lanes and air routes. Where the pandemic closed borders for public health, this conflict is closing them for military and geopolitical reasons. Advertisement , Iran has reportedly Nowhere is this clearer than in the Strait of Hormuz . Iran’s new supreme leader has vowed to keep the strait closed to force other countries to intervene diplomatically and restrain Washington and Israel, while urging neighbouring states to shut US bases on their soil. HoweverIran has reportedly allowed a limited number of ships from countries not directly involved in the conflict to transit the waterway following negotiations. Roughly one-fifth of the world’s oil passes through this narrow channel, so any major disruption affects the global economy. Shipping costs are climbing, and some vessels are detouring or waiting it out. With inflation still a concern, rising fuel and insurance costs are adding to price pressures. Advertisement The focus, however, is no longer solely on the Strait of Hormuz. To force countries to lean on Washington and Israel to de-escalate, Iran has sign...
Severe turbulence is defined as when the up and down movements of a plane going through disturbed air exert more than 1.5g-force on your body - enough to lift you out of your seat if you weren't wearing a seatbelt.
Severe turbulence is defined as when the up and down movements of a plane going through disturbed air exert more than 1.5g-force on your body - enough to lift you out of your seat if you weren't wearing a seatbelt.
Yotta Data Services Pvt. , the data center operator that runs India’s largest cluster of Nvidia Corp. AI processors, is seeking to raise fresh capital at a valuation of about $4 billion as it prepares to file its draft prospectus for an initial public offering. The Mumbai-based company is aiming to secure roughly $500 million to $600 million in capital and then file its formal listing documents wi...
Yotta Data Services Pvt. , the data center operator that runs India’s largest cluster of Nvidia Corp. AI processors, is seeking to raise fresh capital at a valuation of about $4 billion as it prepares to file its draft prospectus for an initial public offering. The Mumbai-based company is aiming to secure roughly $500 million to $600 million in capital and then file its formal listing documents within weeks, according to people familiar with the matter. It plans to raise a similar amount in the public offering. Yotta has positioned itself as a domestic alternative to Western technology giants, as Prime Minister Narendra Modi advocates for his country to become an AI power that can compete with the US and China. Amazon.com Inc. and Alphabet Inc. have said they will each pour more than $100 billion into capital expenditures this year, including AI infrastructure in India. Read More: Nvidia Backs Little-Known Upstart in India’s Biggest AI Bet Yet Yotta is in discussions with several banks to manage the IPO, with contenders including the local arms of Nomura Holdings Inc. and Goldman Sachs Group Inc. , along with ICICI Securities Ltd. and Kotak Securities Ltd. , the people said, requesting anonymity due to the sensitivity of the talks. The company has already received in-principle approval for the listing and is awaiting final clearance from the Securities and Exchange Board of India . Among the potential investors in the pre-IPO round are sovereign wealth funds, including Mubadala Investment Co. , and several prominent Indian billionaires’ family offices have already signed on. Yotta had targeted $1.2 billion in the pre-IPO fundraising, Reuters reported in February, citing comments from Chief Executive Officer Sunil Gupta. Yotta didn’t immediately respond to emailed requests for comment. Companies from AI developers like OpenAI to data center specialists like CoreWeave Inc. and Nebius Group NV are investing record amounts of capital into computing capacity, as they str...