Hello, Ola Electric has hit the ground running. The hit the upper 20% circuit on its stock market debut, despite a modest response to its public offering. The stock, which listed at a flat Rs 76 per share, closed at Rs 91.
2 on the NSE, boosting the company's valuation to about $4.8 billion. Its founder Bhavish Aggarwal also doubled his wealth, according to the Bloomberg Billionaires Index, giving the entrepreneur a net worth of $2.
3 billion. The company’s stellar debut is indicative of the bankability of clean energy companies. Wind and solar energy solutions company Suzlon Energy’s market capitalisation crossed the Rs 1 lakh crore mark on Friday on the back of the acquisition of a wind turbine manufacturer.
Moving on, AI may have the same influence Facebook once held in the 2010s. OpenAI assessed its GPT-4o model to have “medium risk” as its researchers found that some writing samples from GPT-4o could be better at swaying readers’ opinions than human-written text. While the mere mention of AI can cause mass hysteria, the technology is increasingly finding newer use cases.
From JP Morgan Chase rolling out generative AI assistants for employees to help them with tasks like writing emails and reports, ISRO education students using the technology to facilitate innovation in the space sector, to India’s Supreme Court employing it for judicial translation and legal research—AI’s sphere of influence is getting wider. It’s even helping bring back the dead. around .