Alphabet CEO Sundar Pichai now tops the 2026 HSBC Hurun ranking of global Indians, with his firm worth $4.2 trillion.
Satya Nadella of Microsoft came second, and Alphabet's climb past Microsoft makes it the most valuable firm led by a global Indian. The ranking includes 236 people of Indian descent who head 200 firms based abroad, worth $15 trillion together, up 53% from 2024. For the first time, AI gets its own category, with 18 firms valued at $227 billion, and Cursor, at $60 billion, leads the startups.
A group of current and former Microsoft staff has circulated an open letter accusing the company of putting AI ahead of its workers, customers and climate goals. It comes as Microsoft offers buyouts to roughly 60,000 employees, the biggest offer of its kind in the company's history.
The signatories want staff to have a say in how AI is built and used, and they want an end to tying AI use to rewards or penalties. They also want Microsoft to keep its goals of removing more carbon than it emits, replenishing more water than it uses and producing zero waste by 2030.
Opposition to AI data centres is now a campaign issue in the US midterms. Democrats are targeting Republicans who backed the industry's growth, tying it to higher power bills.
In Texas, James Talarico used that frustration against Republican Ken Paxton, and Democrats are pressing the same case in competitive races in Ohio, Michigan and South Carolina. Residents also raise water use, noise and tax incentives they say bring few permanent jobs.
Meanwhile, Microsoft, Google, Amazon and Meta are spending billions on new facilities for their AI plans.
Jefferies believes the AI investment boom may be past its high point, or heading into a mid-cycle correction, as borrowing costs rise.
Microsoft, Amazon, Alphabet and Meta lifted their combined capital spending 108% year on year to $202 billion in Q3 2026. Worries over funding and profits could leave 2027 spending below the $1.04 trillion analysts currently expect. AI investment accounted for 67% of the 2.1% US GDP growth in the four quarters to Q3 2026.
Microsoft AI CEO Mustafa Suleyman is worried about a Delaware plan that would let AI agents legally run companies.
The draft bill would create an Artificial Intelligence Company where an AI agent handles daily operations, signs contracts and can be sued. Any lawful business except banking would be allowed, with a 30-month pilot.
Representative James Comer has requested documents from Delaware's governor, warning the plan could shield AI firms from accountability for harm. Federal legislation could also be introduced to override state AI efforts.
Microsoft is winding down its AI computing partnership with Oracle, choosing not to renew a 2023 deal and gradually switching off rented servers. The machines run on older Nvidia chips that no longer match its needs.
Oracle is already under strain, with heavy AI data center spending pushing free cash flow negative and its share price down more than 50% from a June high. Its shares slipped about 3% on the news.
Oracle says demand for its AI infrastructure, even on older hardware, remains strong.
Indian Entrepreneur@indianentrepreneur
