In addition to Fidelity Management and Research Company, new investors include funds and accounts managed by BlackRock, Maverick Silicon, Tiger Global Management and Lip-Bu Tan, as well as participation from existing investors including AMD Ventures, Koch Disruptive Technologies (KDT), Temasek, Temasek’s wholly-owned subsidiary Xora Innovation, Porsche Automobil Holding SE and The Engine Ventures.
The company says its Photonic Fabric technology platform allows AI compute to be easily networked from within processor packages to servers across multiple racks, while its suite of products, which includes connectivity, switching, and packaging solutions, supports optical scale-up networks for accelerated computing.
“With the emergence of complex reasoning models and agentic AI, the requirements on AI infrastructure are compounding,” said David Lazovsky, CEO of Celestial AI. “Cluster sizes must scale from a few AI processors in a server to tens of processors in a single rack and thousands of processors across multiple racks, all while relying on high-bandwidth, low-latency network connectivity to handle massive data transfers between processors.”
According to the official release on March 11, Celestial AI is the creator of the Photonic Fabric, an optical interconnect technology platform for AI computing systems. The Photonic Fabric provides the technology for data center computing, networking and memory systems to enable advancements in AI with sustainable and profitable business models.
WNS Acquires Kipi.ai
Data modernisation, AI, and analytics solutions company Kipi.ai, focused on the Snowflake platform, announced that it has joined WNS (Holdings) Limited, a digital-led business transformation and services company. This move enhances Kipi.ai’s ability to scale its data modernisation, analytics, and AI capabilities while maintaining its deep partnership with Snowflake, according to the companies’ joint statement on March 11.
Kipi.ai
Kipi provides strategy, execution, and managed service capabilities across data engineering, analytics, and data science. Kipi’s more than 600 global employees include over 450 data engineers, solutions architects, data scientists, and business analysts. Kipi’s client base is US-centric with domain expertise in Banking/Financial Services, Insurance, Manufacturing/Retail, High Tech/Professional Services, and Healthcare/Life Sciences.
The acquisition of Kipi.ai is expected to accelerate WNS’ Analytics and AI practice, which drives decision intelligence across industries, the official release said.
“The strong cultural alignment and complementary service offerings between our two firms will unlock the full potential of AI and offer opportunities to grow and better serve our global clients,” said Jason Small, Founder and CEO of Kipi.ai. “Over the last 4 years, we have created a unique company that helps clients leverage data, analytics, and AI to transform and succeed.”
“Together, we will leverage domain expertise and scalable AI solutions to drive decision intelligence and efficiencies, and to create new revenue streams,” said Keshav Murugesh, WNS’ Chief Executive Officer.
By combining WNS’ domain expertise with Kipi.ai’s Snowflake-powered data solutions, the companies said they will help clients drive decision intelligence, operational efficiencies, and new revenue streams within the Snowflake AI Data Cloud.
As Kipi.ai integrates with WNS, its Snowflake-driven strategy, leadership team, and operational structure remain unchanged.
Also Read: Relying on AI for Legal Research Risky, Says SC Justice: Report
CoreWeave Announces Agreement with OpenAI
CoreWeave announced on March 10 a deal to deliver AI infrastructure to OpenAI, expanding OpenAI’s compute capacity for training and delivering its models to its users around the world. According to the company, the contract value for this deal is up to USD 11.9 billion. As part of this deal, OpenAI will become an investor in CoreWeave through the issuance of USD 350.0 million of CoreWeave stock.
“Partnering with OpenAI on this net new contract underscores CoreWeave’s proven ability to deliver reliable and performant infrastructure services, powering AI Innovations for world-leading AI labs,” said Michael Intrator, Co-Founder and Chief Executive Officer of CoreWeave. “We remain a partner-of-choice to meet the bleeding-edge needs of pioneers to unleash AI’s potential to change the world.”
“Advanced AI systems require reliable compute, and we’re excited to continue scaling with CoreWeave so we can train even more powerful models and offer great services to even more users,” said Sam Altman, CEO of OpenAI. “CoreWeave is an important addition to OpenAI’s infrastructure portfolio, complementing our commercial deals with Microsoft and Oracle, and our joint venture with Softbank on Stargate.”
CoreWeave operates a footprint of data centers across the US and Europe and provides cloud platform for compute-intensive workloads. The company says its platform delivers compute at cutting-edge scale and speed optimised for AI. CoreWeave has recently filed paperwork for an initial public offering (IPO), according to reports.
Perfios Acquires CreditNirvana
Bangalore-headquartered Indian B2B SaaS TechFin Perfios announced on March 11 the acquisition of CreditNirvana, an AI-driven debt management and collections platform. Perfios says this acquisition enhances its capabilities in collections and debt management, strengthening its product stack.
“By enabling financial institutions to streamline recoveries, minimize delinquencies, and maximise portfolio performance, Perfios further cements its role as the operating system for the BFSI sector,” the company said.
CreditNirvana is a player in debt collection and recovery, using AI and data analysis to automate the entire collections lifesycle—from early-stage delinquency management to legal recoveries.
With lenders in India spending over USD 7 billion annually on debt recovery and collections, Perfios says this acquisition enables it to tap into a high-growth market with a full-stack, technology-first approach to financial services.
“This acquisition is a strategic step in expanding our product suite and strengthening our capabilities in debt management and collections. By integrating CreditNirvana’s AI-driven capabilities with our existing solutions, we aim to unlock new efficiencies,” said Sabyasachi Goswami, CEO, Perfios.
“Perfios’ deep expertise in financial technology and strong commitment to innovation gives us a significant advantage in expanding our reach and advancing our AI capabilities,” said Raj MKK, Founder and CEO, CreditNirvana. “This partnership enables us to enter new markets, offer more sophisticated AI-driven solutions, and set new benchmarks in data-driven debt management and recovery.”
Perfios recently announced the strategic acquisition of Clari5, a category leader in banking financial crime management, expanding their fraud mitigation, risk intelligence and AML offerings.
Also Read: India’s AI Sector Could Surpass 2.3 Million Job Openings by 2027, Says Bain and Company
About Credit Nirvana
Founded in 2019, CreditNirvana.ai is an AI driven, debt management platform that automates the entire debt collection lifecycle. According to the company, the platform manages a collection portfolio of over USD 9 billion, handles over 42 million loan accounts, and supports nine types of loan portfolios. The company serves banks, NBFCs, FinTechs, and Asset Reconstruction Companies (ARCs) by leveraging data-driven automation to optimise recoveries, reduce delinquencies, and enhance operational efficiency while reducing costs.
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