It is reported that Nvidia is in talks to invest in Perplexity as part of a funding round that could value the artificial intelligence startup at over $30 billion, exceeding the previous valuation by more than 50%. Perplexity's annual revenue has also grown significantly, reaching over $750 million, compared to less than $250 million at the beginning of 2026, thanks to the company's product, the Perplexity Computer AI agent.
Meanwhile, the UPI system marks its tenth anniversary on August 25, signifying a period of rapid growth. The number of transactions increased from 1.78 billion in the 2017 fiscal year to 24,162 billion in the 2026 fiscal year, representing an increase of almost 13,000 times. The transaction volume grew by more than 4,000 times to 314 lakh crore rupees. In July, UPI recorded a monthly peak of 2,366 billion transactions and is currently operating in 11 countries.
In the education sector, Veranda Learning received approval from NCLT to split its commercial education business and transfer it to J.K. Shah Commerce Education, which is planned for an independent listing on the stock exchange. This move is part of the 'Veranda 2.0' strategy aimed at creating more focused and autonomously managed educational enterprises.
Furthermore, the government in New Zealand is taking steps to ban social media use for children under 16. Platforms may face fines of up to 10% of global revenue for non-compliance. Proposed age verification measures include account credentials, facial recognition, and digital identification. However, the bill faces opposition from the coalition partner New Zealand First, who argues that decisions about children's access to social media should be made by parents, not the government.
Other topics are also discussed in today's newsletter. For instance, Third Wave Coffee is developing a plan for larger expansion after raising 408 billion rupees. This domestic coffee chain intends to accelerate store openings and enter new consumer categories.
Jasmine Lambori's story demonstrates resilience, mental strength, and unwavering faith, as she went from a hospital bed to a gold medal at the Commonwealth Games. Weeks before the games, her participation was threatened by illness, but she returned stronger and won the top prize.