TCS misses revenue estimates amid tariff-driven client caution

/in /tarafından

Tata Consultancy Services (TCS), India’s largest software-services exporter, reported quarterly revenue below analyst expectations on Thursday, as client spending slowed due to ongoing uncertainty around U.S. tariffs. The revenue miss has sparked concerns over demand for India’s $283 billion IT sector and negatively impacted shares of U.S.-listed Indian tech rivals Infosys and Wipro.

TCS CEO K Krithivasan noted on a conference call that delays in decision-making and project launches related to discretionary spending have persisted and intensified during the quarter. He said it is “too early” to predict when growth will return but suggested that clarity might emerge by late July or early August, depending on the U.S. spending bill’s progress.

TCS reported consolidated sales of 634.37 billion rupees ($7.40 billion) in Q1, rising 1.3% year-on-year but falling short of the 646.66 billion rupees analysts had forecasted. Four of TCS’s six verticals saw revenue declines compared to the previous year, with only banking and financial services (up 1%) and technology services (up 1.8%) showing growth.

Total order bookings dropped to $9.4 billion in the quarter, down from $12.2 billion in the previous quarter but higher than $8.3 billion a year ago.

Research analyst Sagar Shetty from StoxBox highlighted that the weak top-line numbers reflect ongoing client caution, a trend likely to affect other tier-1 IT firms and potentially lead to downward revisions in revenue guidance. HCLTech, Infosys, and Wipro are set to report results later in July. Following TCS’s announcement, Infosys shares fell 3.3% and Wipro shares dropped 4.2%.

Despite the revenue shortfall, TCS’s net profit rose 6% to 127.60 billion rupees, beating analyst expectations largely due to a delayed wage hike and higher other income.

OpenAI set to launch AI-powered browser to rival Google Chrome

/in /tarafından

OpenAI is reportedly preparing to release a new AI-powered web browser in the coming weeks that aims to challenge Google Chrome’s dominance, according to sources familiar with the matter. The browser will leverage artificial intelligence to transform the way users interact with the web, potentially offering a more integrated experience that keeps some browsing activities within a ChatGPT-style chat interface rather than directing users to external websites.

This move marks a strategic push by OpenAI to gain direct access to user data—an essential asset for competing with Google, whose Chrome browser is a critical component of Alphabet’s advertising business, generating nearly 75% of its revenue. By controlling browsing data, OpenAI could directly rival Google in targeted advertising and user engagement.

With over 500 million weekly active ChatGPT users, OpenAI’s browser has the potential to significantly disrupt Google’s advertising ecosystem. The browser will be built on Chromium, the open-source codebase behind Chrome and other browsers like Microsoft Edge and Opera, allowing OpenAI to control data collection and integration more effectively.

The new browser is also designed to integrate OpenAI’s AI agent tools, such as Operator, enabling automated actions on behalf of users, including booking reservations or filling forms within websites—enhancing convenience and utility.

OpenAI’s founder Sam Altman, who has driven the company’s rapid innovation since ChatGPT’s launch in 2022, is betting on this browser as part of a broader strategy to embed AI deeper into daily personal and work life.

Competition is fierce: Google Chrome currently commands over two-thirds of the global browser market with more than 3 billion users, while Apple’s Safari holds a distant second place with 16%. Other AI-driven browsers like Comet by Perplexity, The Browser Company, and Brave have already launched AI-enhanced browsing experiences.

The Department of Justice’s ongoing antitrust actions against Google—following a ruling that Alphabet holds a monopoly in online search—highlight the regulatory challenges facing the search and browser giant. OpenAI has even expressed interest in acquiring Chrome if forced divestiture occurs.

Unlike merely creating a plug-in for existing browsers, OpenAI’s decision to build its own browser aims to maximize control over user data, a crucial factor for AI’s effectiveness and business value.

OpenAI declined to comment on the launch details.

Bitcoin surges to record near $112,000 amid rising institutional interest

/in /tarafından

Bitcoin soared to a new all-time high late Wednesday, nearly touching $112,000, driven by growing risk appetite and sustained demand from institutional investors embracing the world’s largest cryptocurrency. The digital asset reached an intraday peak of $111,988.90 and was last trading around $111,259, marking an 18% gain since the start of the year.

Anthony Pompliano, founder and CEO of Professional Capital Management, highlighted bitcoin’s increasing appeal to large investors in a letter to clients:
“Bitcoin is the only asset I am aware of where it becomes less risky as it grows in size… With its market cap now measured in trillions, almost every capital allocator on the planet can put exposure on.”

The rally has been supported by crypto-friendly policies from the Trump administration, which have unlocked more capital for digital assets. For example, Trump Media & Technology Group recently filed to launch an exchange-traded fund investing in multiple cryptocurrencies, including bitcoin, ether, solana, and ripple.

Bitcoin’s surge also boosted the broader cryptocurrency market. Ether, the second-largest token, climbed to a one-month high of $2,794.95, last up 5.4% at $2,740.99. Shares in crypto-related companies also gained, with MicroStrategy rising 4.7% to $415.41 and Coinbase Global up 5.4% to $373.85.