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India to Scrap 6% Digital Ad Tax, Easing U.S. Trade Tensions

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India has decided to remove the 6% digital advertising tax, known as the equalization levy, easing concerns for U.S. tech giants like Google, Meta, and Amazon. The finance minister’s announcement on Tuesday comes in response to trade concerns raised by the U.S., particularly after President Trump threatened reciprocal tariffs from April 2.

The change will take effect from April 1, as part of amendments to the 2025 Finance Bill, which were approved by the Indian parliament. The 6% levy targeted online advertising services provided by foreign companies, requiring them to withhold and remit taxes to the Indian government. The U.S. Trade Representative (USTR) had criticized this tax as discriminatory, noting that domestic companies were exempt from it.

The decision follows a trade agreement made during Prime Minister Narendra Modi’s visit to the U.S. last month, aiming for $500 billion in two-way trade by 2030. India previously abolished a 2% levy on non-resident e-commerce firms for online services in 2024.

This move is seen as an effort by India to ease trade tensions with the U.S., signaling a possible shift in diplomatic relations, although analysts remain cautious about whether it will lead to a softening of the U.S. stance.

PsiQuantum Raising $750 Million to Advance Quantum Computing Technology

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PsiQuantum, a quantum computing startup, is in the process of raising at least $750 million at a $6 billion pre-money valuation, as reported by sources familiar with the matter. BlackRock is reportedly leading the fundraising initiative, which has not yet been finalized.

The company distinguishes itself from other quantum computing startups by modifying traditional manufacturing techniques from the semiconductor industry, using existing photonics technology. This technology, commonly used for fiber-optic communications, is being applied at a factory operated by GlobalFoundries in New York. PsiQuantum aims to produce millions of quantum chips, with plans to scale production significantly, a process that requires substantial investment.

Quantum computing is poised to solve problems that would be impossible for conventional computers, such as simulating molecular interactions and predicting material behaviors. This technology holds the potential to revolutionize fields like battery development and drug discovery. Major tech companies, including Alphabet’s Google, Microsoft, and Amazon, are also pursuing quantum computing, with Nvidia recently announcing plans for a quantum computing research center in Boston.

PsiQuantum has partnerships with the U.S. and Australian governments to build quantum computers in Chicago and Brisbane, respectively. Despite the long-standing history of quantum computing, advancements have only recently been made in reducing errors and improving chip reliability. PsiQuantum aims to have a functional quantum machine by 2029, a goal echoed by Google, which predicts useful quantum applications within the next five years.

Former Cruise CEO Kyle Vogt’s Robotics Startup, The Bot Company, Valued at $2 Billion in New Funding

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Kyle Vogt, the former CEO of self-driving car company Cruise, has secured $150 million in a new funding round led by Greenoaks for his robotics startup, The Bot Company. This investment boosts the company’s valuation to $2 billion, a significant jump from its previous valuation of $550 million following an earlier $150 million funding round. Despite the company not yet releasing a product or generating revenue, the funding reflects strong investor confidence in its potential.

The Bot Company, which was co-founded by Vogt, Paril Jain, and Luke Holoubek—former engineers at Tesla and GM-owned Cruise—aims to build AI-powered robots for everyday household tasks. These robots are designed to be non-humanoid and feature a base and grips for performing chores. The company is still in the development phase, working on integrating hardware and artificial intelligence-based software that will enable the robots to adapt and learn new tasks.

The company’s rapid rise in valuation comes amid a boom in robotics, driven by advances in large language models (LLMs). These AI models enable robots to understand natural language commands and perform more complex tasks, fueling significant interest in robots that could assist in homes or on factory floors. The Bot Company’s focus on creating at-home robots positions it within the growing trend of robotics startups, which are attracting substantial funding for innovative, AI-powered solutions.

The boom in robotics is also reflected by other industry players. Companies like Tesla, startups such as Figure, and Cobot, a robotics firm focused on industrial automation, are drawing attention with large funding rounds. Major players like Amazon have also invested heavily in home robotics, with the launch and eventual discontinuation of its Astro robot.

Vogt and his co-founders are part of a wave of talent transitioning from the self-driving car industry to robotics, aiming to create more adaptable and intelligent robots that can perform a range of tasks in daily life. The investment in The Bot Company, alongside the increasing venture capital influx into robotics, indicates growing confidence in AI-driven, action-based robotics solutions.