Meanwhile, Tesla is developing a smaller, cheaper electric SUV, Reuters reported, quoting sources. The car would be about 14 feet in length, more compact than Tesla's top-selling Model Y SUV, which is about 15.7 feet long.

Still on EVs, China's electric vehicle exports soared 140% year-on-year to a record 3,49,000 units in March, on the back of rising global fuel prices. However, the country is facing a downturn at home.

If you are a founder under 25, this might interest you. Masters' Union, a business and technology school based in Gurugram, has launched a Rs 100-crore early-stage investment platform called MU Ventures. The platform will support founders under the age of 25, focusing on the very beginning of their journey.

In other news, India's largest IT services exporter, Tata Consultancy Services has delivered an upbeat performance in the fourth quarterof FY26. Net profit rose 12.2% year-on-year, while revenue increased 9.6%, beating market expectations.

Lastly, is BTS losing its K-pop identity in its effort to woo the world?

In today's newsletter, we will talk about

• The race to control compute
• Deeptech startup Kluisz's growth plan

Here's your trivia for today: What popular computer language shares its name the SI unit of pressure?

Insight

Intel is joining Elon Musk's chipmaking plan with SpaceX, Tesla and xAI. Its role would help speed up a project aimed at producing vast volumes of advanced compute for AI and robotics.

The idea is pitched as a huge chip complex with a target of roughly 1 terawatt of compute a year, which is an enormous measure of processing capacity.

What the deal means:

• Intel's presence matters because the company is trying to prove that it can be more than a maker of its own branded processors.
• Intel CEO Lip-Bu Tan has said the company must become more financially disciplined and refocus on its foundry business, which means making chips for other companies, not just itself.
• The partnership offers Intel a chance to show that its manufacturing expertise still matters in the AI era. For Tesla, SpaceX and xAI, it means reducing reliance on outside suppliers and tailoring silicon more closely to their own software and hardware.

Startup: Pluckk

Amount: Rs 100 Cr

Round: Series A1

Startup: Astranova Mobility

Amount: Rs 60 Cr

Round: Series A

Funding

Deeptech startup Kluisz.ai, rebranded as Nava, has raised $22 million in a Series A funding round led by Greenoaks. RTP Global and Unicorn India Ventures also took part in the round.

The company, which builds GPU compute and AI data centres across Asia-Pacific, said the rebrand comes as it sets up Singapore as its regional headquarters to sit closer to major APAC markets and global talent. This also marks a clear broadening of ambition, from an AI-native cloud startup to what it now describes as a foundational cloud platform for AI in Asia.

Key takeaways:

• The capital will go into building out Nava's full-stack AI compute platform, expanding its footprint across APAC, and hiring senior people across AI data-centre design, GPU engineering, go-to-market strategy, and operations.
• Nava's model is vertically integrated, which means it aims to control more of the chain, from AI-optimised data centres to orchestration and the inferencing layer. The inference phase is the stage where a trained model is used to answer real-world requests.
• Founder Abhinav Sinha said the startup's business has moved beyond the original AI-native cloud idea into a broader build-out of the cloud layer for AI in Asia.

News & updates

• Ad revenue:ChatGPT maker OpenAI expects to generate $2.5 billion in advertising revenue this year, with projections to reach $100 billion by ​2030, Axios reported.
• Top exit:Sophia Nadur, Managing Director for Asia and the Middle East at oil major BP Ventures, has exited the firm. She led BP Ventures' investments in EV ride-hailing startup BluSmart, intercity bus platform Zingbus, and EV cargo logistics firm Magenta Mobility.
• New hires:Former executives of Delhivery and Naspers Sandeep Barasia and Tej Kapoor are joining Bay Capital as partners. Their appointment comes as the institutional investment firm prepares to launch a Digital Opportunities Fund to back late-stage, high-growth companies in the digital and tech ecosystem.