AI video tool phasing out as food delivery expands.
OpenAI has discontinued its AI video app, Sora, citing unsustainable GPU demands and legal concerns, including copyright issues and a collapsed deal with Disney. The move signals a strategic shift away from consumer-focused AI video tools towards professional applications.
Meanwhile, Rapido is venturing into food delivery with Ownly, mirroring Meesho’s approach by targeting 70,000 unlisted restaurants in Bengaluru, previously ignored by major players like Swiggy and Zomato. Ownly adopts a zero-commission model and integrates logistics with Rapido’s bike-taxi service to lower costs.
In other news, Cashify is preparing for an IPO in early 2027, aiming to raise ₹1,500 to ₹1,800 Cr, and Blume Ventures-backed Zivy is pivoting to fintech compliance with a new AI platform named Zoven.
Rocketlane secured $60 million to enhance its AI platform, Nitro, and Zomato and Swiggy are increasing platform fees, raising concerns about pricing power and potential cartel behavior.
Zerodha has also increased brokerage fees for intraday F&O trades for accounts not meeting margin requirements, following government tax hikes on F&O trading.
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