Manish Singh / TechCrunch:
MobiKwik's shares surged as much as 82% on their trading debut, after the Indian digital payments firm, which claims to have 161M users, raised $69M in its IPO  —  Shares in digital payments firm MobiKwik surged 82% to ₹507.5 ($6) on their first day of trading, as the Indian fintech company …

Financial Times:
Kioxia's shares rose 6%+ on its first day of trading in Tokyo, giving the chipmaker a ~$5.2B market cap; a group led by Bain had paid $18B for Kioxia in 2018  —  Private equity group finally floats Japanese flash memory provider at a valuation far below what it paid in 2018

Myles McCormick / Financial Times:
The NERC, overseen by the FERC, warns soaring US electricity demand from data centers to power AI could strain US and Canadian grids, risking blackouts  —  Surging demand from tech sector could overwhelm generation capacity, report says  —  North America's electricity grid faces …

Manish Singh / TechCrunch:
India's commerce minister says that Shein will operate in India purely as a tech partner, with Reliance Retail having full ownership and control of operations  —  Shein must surrender all data of Indian customers and control of its local operations to its partner, Reliance Retail …

Google DeepMind:
Google introduces FACTS Grounding benchmark for evaluating the factuality of LLMs, and announces a leaderboard that ranks Gemini 2.0 Flash Experimental on top  —  Our comprehensive benchmark and online leaderboard offer a much-needed measure of how accurately LLMs ground their responses …