The investment was led by notable figures such as Daniel Gross, with significant contributions from Jeff Bezos, NVIDIA, and other prominent investors, including Stanley Druckenmiller, Tobi Lutke, and Garry Tan
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This release is the first of three planned models, with Phi-3 Small and Phi-3 Medium set to follow, featuring 7 billion and 14 billion parameters, respectively
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Despite these challenges, the company saw a slight growth in revenue, reporting Rs 8,892 crore for the quarter, marking a 2.3 per cent increase YoY but a 1.4 per cent decrease from the previous quarter
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India is setting the pace in the global AI race with a significant lead over the global average of 49 per cent
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Cognizant's focus is not solely on external growth through acquisitions but also on internal talent development, says the CEO
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According to the latest update to the company's internal HR policies, which was revised on 17 April, those employees who achieve 75-85 per cent office attendance will receive 75 per cent of their variable compensation, while those with 60-75 per cent attendance will receive only 50 per cent
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The company's profit before tax (PBT) climbed to Rs 262.4 crore, representing a YoY increase of 4.9 per cent, buoyed by a solid EBITDA margin of 28.8 per cent
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Despite this quarterly growth, the company experienced a significant decline in annual profit, dropping to Rs 49 million in the fiscal year ending 31 March 2024, from Rs 674 million the previous year
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