Flipkart’s delivery service arm Instakart’s FY24 losses increased multifold to Rs 1718.4 crore, from Rs 324.6 crore in the previous year, hurt by higher expenses and marginally lower revenues. 

The company, which is in the logistics, warehouse, courier and allied services business, clocked an operating revenue of Rs 12,115.3 crore in FY24, 5% lower than Rs 12,787.4 crore it posted a year ago, according to filings made with Toefler. 

During the period, the company’s total expenses increased 6% to Rs 14,149.4 crore, mainly driven by employee benefit and other expenses. 

Logistics services accounted for the majority (about 78%) of Instakart’s total operating revenues, with Rs 9,429.8 crore, marginally lower than what it collected in the previous year.

Warehousing services, which accounted for about 10% of total operating revenues, witnessed a 28.4% drop in revenue, while collection services, which accounted for 12%, remained stable. 

Just a week ago, Flipkart Internet reported a 21% rise in FY24 revenue at Rs 17,907.3 crore helped by rising income from its advertising services.

Flipkart India Ltd, which is Flipkart’s business-to-business (B2B) arm, reported a 26.4% rise in revenue from operations at Rs 70,541.9 crore in FY24. 

Google has rolled out a range of programmes and partnerships to accelerate the growth of AI startups In India. The initiatives, announced at an AI Startups Summit in Bengaluru, will support early-stage AI founders in building, scaling, and expanding their customer base through the utilisation of Google Cloud services.

The tech giant recently introduced Emerging ISV Partner Springboard—a 12-week programme designed to fuel growth for AI startups. Participants will benefit from hands-on support in creating go-to-market assets, consultations with Google AI experts for product refinement, guidance on technical architecture best practices, and streamlined onboarding to Google Cloud Marketplace. 

“Google is committed to empowering AI startups to drive innovation and growth. These initiatives demonstrate our dedication to providing critical support and resources to early-stage founders, helping them build and scale successful AI-powered businesses,” said Manish Gupta, Senior Director, Research, Google DeepMind. 

During a fireside chat at the Global Google Cloud Summit, Google Cloud CEO Thomas Kurian applauded startups leveraging AI and cloud technology. 

“At Google Cloud, our mission is to support these pioneers by providing the essential tools, resources, and mentorship they need to thrive. Through strategic partnerships, tailored programs, and advanced infrastructure, we are committed to enabling businesses to scale their impact and drive the next wave of digital transformation,” said Kurian. 

Early-stage founders will receive enhanced support through the Google for Startups Cloud Program, which will offer $200,000 in Google Cloud credits over two years. AI-based startups will receive even greater support, receiving $350,000 in credits to address the demanding computational needs of advanced AI development, the company said in a statement. 

In addition, Google has collaborated with Y Combinator to provide exclusive access to NVIDIA H100 GPUs and Google Cloud TPUs, along with cloud credits, support, and mentorship for its Summer 2024 group of AI-focused startups.

Furthermore, the tech giant is also joining forces with early-stage accelerators and incubators such as 500, StartX, and Berkeley Skydeck to provide early-stage founders with a special package, including Google Cloud credits, expert advice, and technical workshops

Earlier, the California-headquartered firm also announced the launch of Startup School: GenAI, a four-week training programme designed to help startups leverage AI.

Mega projects represent the pinnacle of human ambition and engineering prowess, often involving colossal investments and extensive timelines. As we look beyond 2030, several monumental undertakings are set to reshape our world. Here’s an in-depth exploration of the top 10 most expensive megaprojects slated for completion after 2030.

10. Microsoft and OpenAI Data Center and Supercomputer – $100 Billion

In a bold move to advance artificial intelligence, Microsoft and OpenAI are collaborating on a data center project estimated at $100 billion. Dubbed “Stargate,” this U.S.-based facility aims to house an AI supercomputer equipped with millions of specialized chips, pushing the boundaries of AI capabilities. The project is currently in the planning stages, with operations expected to commence by 2028.

9. Forest City in Malaysia – $100 Billion

Forest City, a visionary urban development in Johor, Malaysia, encompasses four man-made islands spanning 30 square kilometers. Designed as a smart and green city, it integrates vertical greenery and cutting-edge technology to create an idyllic living environment. Despite initial challenges, including low occupancy rates, recent initiatives such as the establishment of a duty-free zone aim to revitalize the project and attract both residents and investors.

8. California High-Speed Railway – $100 Billion

The California High-Speed Rail project seeks to connect major cities across the state with a fast, efficient transportation system. With an estimated cost of $100 billion, the project has faced delays and budget overruns. However, construction is progressing, with segments in the Central Valley under development. Completion is anticipated in the 2030s, promising to transform travel within California.

7. Delhi-Mumbai Industrial Corridor – $100 Billion

The Delhi-Mumbai Industrial Corridor (DMIC) is an ambitious infrastructure project aimed at developing industrial zones between India’s capital, Delhi, and its financial hub, Mumbai. Spanning 1,500 kilometers, the corridor includes smart cities, industrial clusters, and high-speed freight lines. With an investment of $100 billion, the project is set to boost economic growth and is expected to be completed in phases, extending beyond 2030.

6. King Abdullah Economic City – $100 Billion

Located along Saudi Arabia’s Red Sea coast, King Abdullah Economic City (KAEC) is a massive development project covering 173 square kilometers. With an investment of $100 billion, KAEC aims to diversify the nation’s economy by attracting global businesses and tourists. The city features residential areas, industrial zones, and a major port. While parts of the city are operational, full completion is projected for the 2030s.

5. Silk City in Kuwait – $132 Billion

Kuwait’s Silk City, or Madinat al-Hareer, is a planned urban area intended to transform the nation’s economy. With an estimated cost of $132 billion, the project includes the construction of the world’s tallest tower, residential areas, and a free trade zone. The development aims to position Kuwait as a regional hub for commerce and tourism, with completion expected after 2030.

4. New International Space Station – $230 Billion

As the current International Space Station (ISS) approaches the end of its operational life, plans are underway for a new space station. With an estimated budget of $230 billion, this next-generation orbital platform will support scientific research, commercial activities, and international collaboration. Construction is expected to begin in the late 2020s, with full operations commencing in the 2030s.

3. Gulf Railway – $250 Billion

The Gulf Railway project aims to connect the six Gulf Cooperation Council (GCC) countries—Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates, and Oman—through a 2,177-kilometer rail network. With an estimated cost of $250 billion, the railway will facilitate trade and travel across the region. While progress has been slow, recent commitments suggest completion is targeted for the early 2030s.

2. Neom City – $500 Billion

Neom is Saudi Arabia’s flagship mega-project, envisioned as a futuristic city powered entirely by renewable energy. With a staggering budget of $500 billion, Neom aims to incorporate smart city technologies, sustainable living, and advanced robotics. The project includes The Line, a 170-kilometer linear city designed to house 9 million residents. Construction is underway, with significant milestones expected in the 2030s.

1. Trans-European Transport Network (TEN-T) – $600 Billion

The Trans-European Transport Network (TEN-T) is an ambitious initiative by the European Union to enhance connectivity across the continent. With an estimated investment of $600 billion, the project encompasses roads, railways, airports, and waterways, aiming to facilitate the seamless movement of goods and people. The comprehensive network is slated for completion by 2050, with significant progress expected post-2030.

These mega projects exemplify human ingenuity and the relentless pursuit of progress. As they come to fruition in the coming decades, they promise to reshape economies, enhance connectivity, and pave the way for a more interconnected world.