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OpenAI valuation: ChatGPT parent is now worth $500 billion; more than SpaceX and ByteDance – The Times of India

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OpenAI valuation: ChatGPT parent is now worth 0 billion; more than SpaceX and ByteDance – The Times of India


ChatGPT maker OpenAI’s valuation has surged to $500 billion after employees and former staff cashed out $6.6 billion worth of shares in a secondary sale, a source familiar with the deal told Reuters. With this valuation, the AI giant has left behind SpaceX and ByteDance.The transaction lifts the artificial intelligence company’s value from $300 billion and highlights its rapid growth in both users and revenue. The shares were purchased by investors including Thrive Capital, SoftBank, Dragoneer Investment Group, Abu Dhabi’s MGX and T Rowe Price, the source told Reuters.OpenAI had cleared sales of more than $10 billion of stock on the secondary market, the source added. SoftBank’s participation adds to its earlier investment in OpenAI’s $40 billion primary funding round.Revenue at the company has also been rising sharply. OpenAI generated around $4.3 billion in the first six months of 2025, about 16% higher than its total earnings for the whole of last year, according to the Information.The deal comes as technology firms battle to secure top AI talent with generous pay packages. Meta, for instance, has poured billions into Scale AI and recently lured its 28-year-old founder Alexandr Wang to run its new superintelligence division.





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Hacking has an evil twin! What is vibe hacking? Here’s how cyber frauds are misusing AI – The Times of India

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Hacking has an evil twin! What is vibe hacking? Here’s how cyber frauds are misusing AI – The Times of India


As if cyber frauds were not enough, you will now have to deal with another evil of the AI era, vibe hacking!Cybersecurity experts are warning that AI is increasingly being misused by criminals to launch sophisticated cyberattacks. What started as “vibe coding,” a way to harness AI for productive tasks, now has a darker side: “vibe hacking.AI developer Anthropic reported that its coding model, Claude Code, was recently exploited to steal personal data from 17 organisations, with hackers demanding nearly $500,000 from each victim, according to an ET report.Dark web forums now offer ready-made AI tools, called “Evil LLMs,” for as little as $100. Examples include FraudGPT and WormGPT, designed specifically for cybercrime. These tools can bypass safety measures and trick AI into leaking sensitive information or producing harmful content.A new AI agent called PromptLock can generate code on demand and decide which files to copy, encrypt, or access, raising the stakes even further.“Generative AI has lowered the barrier of entry for cybercriminals,” Huzefa Motiwala, senior director at Palo Alto Networks told ET. “We’ve seen how easily attackers can use mainstream AI services to generate convincing phishing emails, write malicious code, or obfuscate malware.”In simulations, Palo Alto Networks’ Unit 42 team demonstrated that AI could carry out a full ransomware attack in just 25 minutes, which is a whopping 100 times faster than traditional methods. Prompt injection, where carefully crafted inputs hijack a model’s goals, allows attackers to override security rules or expose sensitive data.Motiwala explained, “Attacks don’t only come from direct user prompts, but also from poisoned data in retrieval systems or even embedded instructions inside documents and images that models later process.”Research by Unit 42 found that certain prompt attacks succeed against commercial models 88% of the time.“AI has become a cybercrime enabler, and the Claude Code incident marks a turning point,” said Sundareshwar Krishnamurthy, partner at PwC India. “Cybercriminals are actively misusing off-the-shelf AI tools, essentially chatbots modelled on generative AI systems but stripped of safety guardrails and sold on dark web forums,” ET further quoted Krishnamurthy.Authorities in Gujarat have also cautioned that AI kits are being sold via encrypted messaging apps.“These tools automate everything from crafting highly convincing phishing emails to writing polymorphic malware and orchestrating social-engineering campaigns at scale,” said Tarun Wig, CEO of Innefu Labs. “Attackers can generate deepfake audio or video, customise ransomware, and even fine-tune exploits against specific targets.”Autonomous AI agents make the threat worse by remembering tasks, reasoning independently, and acting without direct human input.Vrajesh Bhavsar, CEO of Operant AI, pointed to risks from open-source Model Context Protocol (MCP) servers. “We’re seeing vectors like tool poisoning and context poisoning, where malicious code embedded in open repositories can compromise sensitive API keys or data,” he said. “Even zero-click attacks are rising, where malicious prompts are baked into shared files.”Experts say AI developers, including OpenAI, Anthropic, Meta, and Google, must do more to prevent misuse.“They must implement stronger safeguards, continuous monitoring, and rigorous red teaming,” said Wig. “Much like pharmaceuticals undergo safety trials, AI models need structured safety assessments before wide release.”





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India’s Richest Woman Revealed: Meet The Billionaire Redefining Success

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India’s Richest Woman Revealed: Meet The Billionaire Redefining Success



At just 43, Roshni Nadar Malhotra leads HCL Technologies, with Rs 2.84 lakh crore wealth — making her India’s richest woman and among the world’s top 5



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Thames Water lenders submit rescue plan to stave off collapse

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Thames Water lenders submit rescue plan to stave off collapse


Michael RaceBusiness reporter

Getty Images Thames Water worker wearing a bright organe hi-vis jacket and a hard hatGetty Images

Thames Water’s lenders have submitted a new rescue plan to prevent the UK’s largest water company from collapsing.

London & Valley Water, a consortium of large financial institutions and investors, has submitted proposals which include writing off about a third of the company’s near £20bn debt pile and investing an initial £5.4bn to stabilise its finances.

Fears that Thames could collapse first emerged more than two years ago, and the government has been on standby to supervise a form of temporary nationalisation.

But the firm’s investors said its plan would rebuild the company without the need for any taxpayer funding or government support.

The company serves about a quarter of the UK’s population, mostly across London and parts of southern England, and employs 8,000 people.

But it has faced heavy criticism over its performance in recent years over a series of sewage discharges and pipe leaks. In May, it was handed a £122.7m fine, the biggest ever issued by the water industry regulator, for breaching rules on sewage spills and shareholder payouts.

London & Valley Water said on Thursday that its plan was the “fastest and most reliable route” to turn around Thames, clean up waterways and rebuild public trust.

Investors said they would inject an initial £5.4bn into the company to shore up its finances and support future investment, but they suggested the cash injection needed to be set against “stretching but achievable and realistic performance targets”.

All water companies are subject to performance targets over leaks, pollution incidents and customer satisfaction levels.

London & Valley has argued the current targets in place for the company are unachievable and its current business plan needs to be adjusted in order for Thames to attract future investment, rebuild the company and improve its performance for customers.

It said under its proposals no dividends would be paid out to shareholders over the duration of the turnaround plan and that new shareholders would commit not to sell the business prior to March 2030.

Outstanding fines would also be paid, they added.

London & Valley Water said it aimed to reach an agreement with Thames and water industry regulator Ofwat “as quickly as possible this autumn given the urgent need to stabilise Thames Water”.

Mike McTighe, the proposed future chair of Thames Water under the terms of plan, said “from day one, we will inject billions in new investment”.

He added that under a new company board, there would be a focus on “reducing pollution and rebuilding public trust so that by the end of this decade Thames Water can once again be a reliable, resilient, and responsible company”.

Ofwat said it would review the latest plans.

In response to the proposals, Chris Weston, chief executive of Thames Water, said the announcement marked an “important milestone” in the company’s work to resolve its debt problems and secure its finances to “support the investment and performance improvements our customers expect”.

The revised turnaround proposals come after Thames suffered a major blow in its attempt to secure its future this summer when US private equity firm KKR pulled out of a £4bn deal.

In July, the boss of Thames Water, Chris Weston, said the company was “extremely stressed” and that it would take “at least a decade to turn around”.

Water bills for households in England and Wales have risen by £10 per month on average this year, although costs vary depending on suppliers. The bills for Thames Water’s customer have gone up from £488 to £639 a year on average.



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