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What’s New Today: CG Semi in Sanand, Gujarat, gears up to produce India’s first domestically made semiconductor chip under the ISM initiative.
Fast-Track Insights: Lakestar raises a $265M continuation fund, extending stakes in portfolio companies, offering liquidity to investors, and reflecting broader VC market trends.
Here’s a quick rundown of the biggest tech headlines making waves today. Let's dive into the day's top tech stories, from CG Semi preparing India’s first domestically made chip to IOCL announcing engineer recruitment for the 2025 intake.
India’s semiconductor ambitions advance as CG Semi, a Murugappa Group subsidiary, prepares to roll out the first Made-in-India chip from its pilot OSAT facility in Sanand, Gujarat. Alongside partners Micron, Tata Electronics, and Kaynes, pilot production lines will test chip batches in 2025. Supported by the ₹76,000 crore India Semiconductor Mission, the project received 50% government capital support, marking a key step toward building a domestic semiconductor ecosystem.
Lakestar, the European VC firm backing Spotify and Revolut, has raised a $265 million continuation fund with Lexington Partners as anchor investor, joined by Industry Ventures and Performance Equity Management. The fund allows Lakestar to transfer partial stakes from four existing funds, providing liquidity to exiting investors. Founder Klaus Hommels called it one of Europe’s largest continuation vehicles, reflecting a trend as IPO markets remain sluggish and exits become more prolonged.
Indian Oil Corporation Limited (IOCL) has issued a preliminary notification for the recruitment of engineers in the Chemical, Electrical, and Instrumentation disciplines for 2025. Applications are expected to open on September 1 and close on September 21, though dates are tentative. The number of vacancies will be announced at a later date. Selected candidates will receive a pay scale ranging from Rs. 50,000 to Rs. 160,000. Detailed eligibility, qualifications, and requirements will be available on the official website once applications begin.
In 2025, ChatGPT dominates the chatbot market with 46.6 billion visits and a 48% share, supported by 400 million users. Rivals Grok, Gemini, and Claude are rapidly growing, while niche tools like Perplexity and Copilot carve specialized roles. The global chatbot market is valued at $10 billion, with strong adoption across business functions. Companies report improved efficiency and revenue, while consumer usage exceeds hundreds of millions worldwide.
Unusual stock surges ahead of cryptocurrency treasury announcements at several small-cap firms are raising concerns about insider trading. Companies like MEI Pharma, SharpLink, and Mill City Ventures saw share prices jump before revealing large crypto purchases. Regulatory gray areas, decentralized assets, and informal communication channels complicate enforcement. Some firms now withhold ticker symbols until markets close. Analysts warn speculative positioning can occur without formal leaks, highlighting the challenges of monitoring crypto-driven stock movements.
