- ASML Lifts Guidance Again: The chip-machine maker raised its 2026 outlook for the second time this year on AI demand, though shares still slipped on lofty expectations.
- Nvidia H200 to China "Trivial": A US official told Congress that despite $10B in approved licenses, almost no advanced Nvidia chips have actually shipped to China.
- Emergent Turns Unicorn: Bengaluru's AI coding startup raised $130M at a $1.5B valuation, just over a year after launch.
- India Approves Semicon 2.0: The Union Cabinet cleared a ~Rs 1.27 lakh crore semiconductor mission to push chip self-reliance.
International Tech News
1. ASML lifts its forecast again — but the stock still slips
ASML, the Dutch company that builds the machines used to make the world's most advanced chips, reported Q2 2026 net sales of about €9.3 billion and net income of €2.9 billion, and raised its full-year 2026 outlook for the second time this year on strong AI-driven demand. Despite beating estimates, shares fell because investors had already priced in a strong result. ASML is the sole maker of the EUV machines behind cutting-edge chips, so its guidance is a bellwether for the entire AI hardware boom.
2. US calls Nvidia's H200 chip shipments to China "trivial"
A senior US Commerce official told Congress that although roughly $10 billion in Nvidia H200 export licenses were approved, actual deliveries to China remain "trivial" — even as Chinese firms have ordered over 2 million chips. Lawmakers also scrutinized a now-closed "Blackwell loophole" that let China-linked buyers source advanced chips through overseas subsidiaries until May 31, 2026. It shows the US–China chip-export fight is still choking off Nvidia's biggest growth market despite loosened rules.
3. TSMC posts record revenue; full earnings land today
TSMC, the world's largest contract chipmaker, reported record Q2 2026 revenue of about NT$1.27 trillion (~$39.6 billion), up 36% year-over-year, driven by AI and high-performance computing demand. Its full Q2 earnings call — with net profit and updated guidance — is scheduled for July 16. TSMC builds the chips for Nvidia, Apple and others, so its numbers gauge whether AI spending is still accelerating.
4. SpaceX stock falls below its IPO price for the first time
Shares of SpaceX (ticker SPCX) dropped to around $134 — below their $135 June IPO price — for the first time since the company's blockbuster debut. Analysts pointed to profit-taking, valuation concerns, and broader anxiety about heavy AI-buildout borrowing across tech. It's a sharp reversal for one of the year's most hyped listings and a test of investor appetite for richly valued tech.
5. SpaceX targets July 16 for Starship Flight 13
SpaceX is set to launch its 13th Starship test flight no earlier than July 16, aiming to deploy 20 Starlink V3 test satellites, relight a Raptor engine in space, and softly splash down both stages. It follows May's Flight 12, which suffered a booster orientation error and multiple engine-relight failures. Starship is central to SpaceX's plans for cheaper heavy-lift launches and next-generation Starlink, so each test is closely watched after recent setbacks.
6. Hyundai workers strike — partly over robot job fears
Hyundai Motor's union in South Korea launched a multi-day partial strike after wage talks collapsed, disrupting production across models. Notably, workers cited job-security fears over the company's push into factory automation and humanoid robots, alongside pay and bonus demands. It's one of the first major labor actions explicitly driven by fears of humanoid robots replacing factory jobs.
7. UK proposes an overnight social media "curfew" for older teens
UK Technology Secretary Liz Kendall unveiled proposals for a default overnight social media curfew for 16- and 17-year-olds, plus switching off addictive features like autoplay, infinite feeds, live streaming and stranger contact by default. The curfew would be optional (teens can switch it off), with rollout expected in spring 2027 alongside an under-16 ban. It opens a new front in Western regulation of how platforms are designed for minors.
8. China's AI-companion rules take effect, forcing shutdowns
New Chinese regulations from five agencies took effect July 15, banning AI companionship apps from encouraging emotional dependency, prohibiting virtual romantic relationships with minors, and mandating addiction-detection features. Some popular "AI partner" services reportedly pulled features, with users losing chat histories. It's the first major national framework directly regulating emotional AI-companion apps and user attachment to chatbots.
India Tech News
1. Emergent becomes a unicorn just over a year after launch
Bengaluru-based AI coding startup Emergent raised a $130 million Series C led by Creaegis, reaching a $1.5 billion valuation — one of India's fastest-ever unicorns. Backers include SoftBank Vision Fund 2, Lightspeed, Khosla Ventures and Y Combinator. The company reports a ~$120M annualized revenue run-rate and 200,000+ paying customers. It's a marquee win for India's "vibe-coding" / AI app-building sector.
2. Cabinet approves "Semicon 2.0" with a ~Rs 1.27 lakh crore outlay
The Union Cabinet cleared India Semiconductor Mission 2.0 with an outlay of roughly Rs 1.25–1.27 lakh crore, part of a larger ~Rs 2.19 lakh crore package that also included a new mobile-manufacturing scheme and a urea self-reliance policy. IT Minister Ashwini Vaishnaw framed it as a push toward chip self-reliance. It sharply expands government backing for domestic semiconductor and electronics manufacturing.
3. Wipro and Tech Mahindra report Q1 FY27 earnings
Wipro and Tech Mahindra are both due to declare Q1 FY27 results on July 16, opening the mid-tier IT earnings wave after TCS and HCLTech reported earlier this month. Analysts expect Tech Mahindra's net profit to jump over 40% YoY, while Wipro's margins are seen pressured by wage hikes and AI investments; Wipro is also expected to declare an interim dividend. These prints set the tone for how AI disruption and soft discretionary demand are hitting India's $250B+ IT services sector.
4. Temasek sells ~2% of Lenskart for ~Rs 1,940 crore
Singapore's Temasek offloaded about 3.56 crore Lenskart shares (a 2.05% stake) for roughly Rs 1,940 crore, trimming its holding to about 4.71% from 6.75%. The exit follows earlier partial sell-downs by SoftBank and ADIA around the eyewear major's public-market journey. It signals early investors trimming positions as Lenskart moves through its high-profile listing.
5. Anthropic rolls out rupee pricing for Claude in India
Anthropic began localizing Claude subscription pricing for India — its second-largest market after the US — listing Pro at Rs 2,000/month (annual billing), Max at Rs 11,999/month and Team at Rs 2,399 per user/month, all inclusive of GST. Rupee pricing lowers friction for Indian users and underscores how central India has become to global AI companies.
6. CCI fines HP India Rs 138.9 crore for tender rigging
The Competition Commission of India penalized HP India nearly Rs 138.9 crore for bid-rigging on the Government e-Marketplace (GeM) — about Rs 126.9 crore over PC tenders and Rs 11.98 crore over printing supplies — for coordinating cover bids and dictating prices. It's a significant antitrust action targeting collusion in government tech procurement.
7. Byju's founder loses bid to overturn Singapore jail sentence
A Singapore court declined Byju Raveendran's application to overturn a six-month jail sentence for contempt, tied to his failure to disclose assets since 2024 in violation of court orders. It deepens the legal jeopardy around the collapsed edtech giant's founder amid ongoing insolvency battles.
8. E3 Electric.Ai raises Rs 100 crore Series A
Bengaluru EV startup E3 Electric.Ai, founded in 2024, raised Rs 100 crore (~$10.5M) in a Series A (equity + debt) led by BluVenture Holdings. It builds AI-enabled electric scooters with predictive diagnostics and connected features, pitched as an affordable alternative to 110cc petrol scooters. It adds a fresh AI-focused challenger to India's crowded EV two-wheeler race against Ola Electric and Bajaj.
9. Avendus closes Future Leaders Fund III at Rs 1,800 crore
Avendus closed its third Future Leaders private-equity fund at Rs 1,800 crore (~$187M), beating its Rs 1,500 crore target with the greenshoe. It has deployed roughly 30% so far, including Rs 140 crore into Parag Parikh Financial Advisory and stakes in La Renon, Aragen and IL JIN Electronics. A large new growth-capital pool signals continued domestic PE appetite for late-stage Indian companies.
10. Networking app Medial shuts down
Medial, a professional-networking startup that had amassed 500,000+ users across 30 countries, ceased operations — another consumer-social casualty in a tough monetization market. It highlights how hard it is to build and monetize networking apps in India.
Funding & Ecosystem Round-up
- Emergent raised a $130M Series C led by Creaegis at a $1.5B valuation, with SoftBank Vision Fund 2, Lightspeed, Khosla Ventures and Y Combinator participating.
- E3 Electric.Ai bagged Rs 100 Cr in a Series A led by BluVenture Holdings for its AI-enabled electric scooters.
- Avendus closed its Rs 1,800 Cr Future Leaders Fund III, beating its Rs 1,500 Cr target; footwear D2C brand BUILT raised a $2M pre-seed led by Tanglin Venture Partners.
- Neo Security (founded by ex-SentinelOne execs) raised $50M+ while still in stealth, underscoring investor appetite for AI-era cybersecurity.
Discussion