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Jio Platforms IPO draws strong demand within hours; Eternal Q2 net profit rises 92%

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Jio Platforms IPO draws strong demand within hours; Eternal Q2 net profit rises 92%

Jio Platforms’ blockbuster IPO sets the tone for a week in which investor confidence, technology ambitions, and digital trust take centre stage. The Rs 30,213-crore issue drew strong demand from qualified institutional buyers (QIBs) within two hours of opening on Wednesday, with the institutional portion subscribed nearly five times. Jio’s ambitions span telecom, artificial intelligence (AI), cloud and digital services, although retail and non-institutional investor participation remained comparatively muted.

The AI race is also becoming more competitive. OpenAI is expanding beyond its longstanding dependence on Microsoft by bringing its models to Google Cloud, signalling a more diversified approach to computing infrastructure as demand for AI services grows.

But the expansion of AI also raises questions about who sets the rules for the technology. A report highlights the apparent contradiction surrounding OpenAI President Greg Brockman, who advocates AI safeguards even as a political group backed by $25 million from him and his wife opposes regulations that could constrain AI development. The debate underscores the tension between responsible AI development and the industry's push for innovation.

Meanwhile, cybersecurity concerns are putting digital trust under the spotlight. eMudhra is facing scrutiny after weak intermediate certificate authority keys raised concerns about website security. The issue has prompted protective measures from browser operators, while the company has said its Indian digital-signature and eSign services remain unaffected.

Adding to these concerns, a purported leak of 3,897 SBI customer records has raised fresh questions about the security of sensitive financial information and claims of data circulating on the dark web.


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