Top 3 Tech News
1) Musk’s xAI nears $20 billion capital raise tied to Nvidia chips, Bloomberg News reports
- xAI is securing around $20 billion in funding, combining equity and debt, to expand its AI infrastructure.
- The deal is tied to Nvidia GPUs for xAI’s new Colossus 2 data center.
- It’s structured through a special-purpose vehicle that leases the chips to xAI, allowing the company to avoid labeling it a formal capital raise.
- Investors include Nvidia, Apollo Global, Diameter Capital, and Valor Capital.
- The move significantly boosts xAI’s compute capacity and positions it as a key rival to OpenAI and Anthropic.
2) Anthropic plans to open India office, eyes tie-up with billionaire Ambani
- Anthropic plans to open an office in Bengaluru, India, and it’s seeking a tie-up / partnership with Mukesh Ambani’s Reliance Industries. 
- India is a key growth market: it’s Anthropic’s second-largest source of website traffic, and usage of its Claude app in India is rising. 
- In India, Anthropic intends to focus on developers and startups, rather than just sales/marketing. 
- Claude app metrics in India: downloads up ~48% YoY; consumer spending jumped ~572% Year over Year (though still modest compared to U.S.)
Sources: TechCrunch, Anthropic
3) Global Economic Outlook Shows Modest Change Amid Policy Shifts and Complex Forces
- The world economy is seen as being in flux, with prospects “dim.”
- Global growth is projected at 3.2 % in 2025, down from 3.3 % in 2024, and slowing further to 3.1 % in 2026.
- Advanced economies are forecast to grow by about 1.5 %, while emerging market and developing economies will see just over 4 % growth.
- Inflation is expected to gradually decline in many countries, though it will remain above target in the U.S., with upside risks.
Sources: X, IMF, Business Times
💡 Singapore Labour Market Report – Second Quarter 2025
The labour market remained resilient in 2Q 2025, in line with the continued economic expansion.
- Total employment grew by 10,400 in 2Q 2025, comprising an increase of 2,600 residents and 7,800 non-residents. This was an improvement from the muted gains in 1Q 2025 (residents: 200; non-residents: 2,000).
- The unemployment rate in June 2025 was similar to March 2025 (2.0%). Among residents, it declined from 2.9% to 2.8% and among citizens from 3.1% to 2.9%. The resident long-term unemployment held steady over the quarter at 0.9% in June 2025, indicating continued stability in job prospects.
- The number of job vacancies fell from 81,100 in March 2025 to 76,900 in June 2025 with the decline broad-based across most sectors. Even so, there remained more vacancies than the number of job seekers, with the ratio of job vacancies to unemployed persons standing at 1.35.
- Retrenchments stayed low at 3,540 (or 1.4 per 1,000 employees) in 2Q 2025.
Looking ahead, global uncertainty is expected to weigh on hiring and wages. Overall, labour market adjustments are expected to come mainly through slower hiring and moderated wage growth, while retrenchments may rise modestly but remain low.
Sources: MOM Key Insights
🚀 Executive Move to Watch
Arvin Singh, former co-founder of Hoolah has joined Cinch as the COO.
📬 One to Forward
🎧 OpenAI x Broadcom