Indian Entrepreneur Bhavish Aggarwal Ventures into AI and Semiconductor Designing for Potential IPOs

Indian entrepreneur Bhavish Aggarwal, the co-founder of successful ride-hailing firm Ola and electric vehicle startup Ola Electric, is boldly expanding into new territories as he charts his businesses' path towards initial public offerings (IPOs).

Aggarwal is now venturing into the realm of AI startups, aiming to develop a large language model. According to insider sources, he is actively exploring the acquisition of two U.S.-headquartered AI startups. In addition, he is in discussions to raise more than $50 million to support his new AI venture.

In addition to his AI ambitions, Aggarwal is also considering establishing a semiconductor design firm, as per an anonymous source with knowledge of the matter. It remains uncertain if this semiconductor firm will be integrated into the same AI venture.

While a spokesperson for Aggarwal has declined to comment on these developments, it is evident that the entrepreneur is actively diversifying his interests in the tech industry.

Over the past decade, Bhavish Aggarwal has explored various sectors, with Ola emerging as a market leader in India's ride-hailing industry. On the other hand, Ola Electric has made significant strides, dominating India's electric scooter market by selling nearly 250,000 vehicles in the last 18 months, as reported by the Society of Manufacturers of Electric Vehicles.

Aggarwal revealed that Ola has achieved profitability, while Ola Electric has surpassed its initial plans, prompting an accelerated timeline for the electric vehicle startup's IPO.

The surge of interest in AI has sparked a tech economy rally, resulting in increased investments in tech stocks and a surge of startup activity. The unveiling of OpenAI's ChatGPT has been a pivotal moment, driving investors to pour over $20 billion into AI startups in recent quarters.

Despite being a prominent startup ecosystem, India seems to be trailing in the AI race. Aggarwal believes that AI can significantly accelerate scientific progress, providing scientists with creative and intelligent leverage. He wonders whether India can become a leading science ecosystem by adopting AI across scientific domains.

However, Aggarwal's aggressive expansion into diverse and sometimes unrelated sectors has raised concerns among some of his investors. Some backers of Ola have expressed worries about not receiving a stake in Ola Electric, which emerged as a separate entity from the ride-hailing firm.

In conclusion, Bhavish Aggarwal, the Indian entrepreneur behind Ola and Ola Electric, is now exploring the realms of AI and semiconductor design as he prepares his businesses for potential IPOs. His ventures into new sectors have stirred interest and raised concerns, but they highlight his ambitious drive to pioneer innovative technologies in India's rapidly evolving tech landscape.