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The Indian government has announced that it would impose a heavy 28 per cent tax on the funds collected by online gaming firms from its customers, dealing a blow to the country’s fast-growing industry valued close to $2bn. India’s Goods and Services Tax (GST) Council, consisting of federal and state ministers, said on Tuesday that it has agreed to levy a 28 per cent indirect tax on online gaming, casinos, and horse racing, adding there should be no distinction between “game of skill” and “game of chance.” Industry experts have voiced concerns that the increased tax burden on the companies may lead to extra charges levied from customers. Companies have so far only paid a small tax on the fee charged from customers for playing games involving real money, but Tuesday’s new rule would impose a 28 per cent tax on the amount these firms collect from players in every game, dealing a hefty blow to their operations. “The implementation of a 28 per cent tax rate will bring significant challenges to the gaming industry. This higher tax burden will impact companies’ cash flows,” Aaditya Shah, an executive at the gaming app IndiaPlays, told Reuters. The new move also comes amid a number of reports across the country of gaming addiction and financial losses among fantasy cricket players and online card games. Commenting on the GST Council’s decision, Roland Landers, chief of the trade body All India Gaming Federation which represents firms like Mobile Premier League, Gameskraft, and Paytm First Games, said it is “unconstitutional, irrational, and egregious”. “This decision will wipe out the entire Indian gaming industry and lead to lakhs of job losses and the only people benefitting from this will be anti-national illegal offshore platforms,” Mr Landers said in a statement, TechCrunch reported. Ashneer Grover, co-founder of the Indian fintech company BharatPe and a former Shark Tank India judge, tweeted that the move may pose risks “not only for online games – but across sectors. Across startups.” “You got billions in from foreign investors as FDI (foreign direct investment). Celebrated FDI inflow! Now the same investors will apply regulatory risk discount to India and funds will dry up,” he said. “RIP – Real money gaming industry in India....It was good fun being part of the fantasy gaming industry - which stands murdered now,” Mr Grover tweeted. Read More A look at sports gambling rules among Big 4 pro leagues Seventh Indian cheetah died of ‘traumatic shock’ after fight with female, post mortem shows Record monsoon rains have killed more than 100 people in northern India this week £10 phone with e-wallet and streaming can bridge India ‘digital divide’, experts say Elon Musk reveals plan to use AI to reveal mysteries of the universe xAI: Everything we know about Elon Musk’s new AI company

You know how anytime you go onto Wikipedia you're asked to donate? Elon Musk could get rid of that once and for all, on one condition. Wikipedia is run by a team of volunteers and is free to access. Volunteers help keep the site up to date as well as write numerous translations for various articles to increase the accessibility. Now, Elon Musk is offering the site $1 billion dollars, but only if they change their name. Musk, who clearly has the same humour as a 12-year-old, is prepared to give out a large cheque if Wikipedia becomes... 'D**kipedia'. Musk was seemingly inspired after seeing the standard appeal for donation on the site, although was unsure why the site was asking for money. "Have you ever wondered why the Wikimedia Foundation ants so much money?" The Twitter/X CEO asked. "It certainly isn't needed to operate Wikipedia. You can literally fit a copy of the entire text on your phone! "So, what's the money for? Inquiring minds want to know..." But a quick Google and Musk could have found the answer himself. Samantha Lien, a spokeswoman for the Wikimedia Foundation, told The Washington Post: "Based on guidance from the Wikimedia Foundation Board of Trustees, our reserve amounts to one year of operating budget. "If there were circumstances that affected our ability to raise those funds during that period, we could end up in an urgent situation - the reserve is a safety net to protect Wikipedia against such as possibility." Although, the large donation perhaps isn't the best use of Musk's money after his wealth dropped by $16 billion after shares in Tesla dropped by 9.3 percent since the company released its 2023 third-quarter earnings report. Sign up to our free Indy100 weekly newsletter Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

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Researchers in China have developed an artificial intelligence tool capable of designing a working computer in under five hours. The team of 19 computer scientists from five different institutions made the AI breakthrough after setting out to prove that machines can create computer chips in a similar way to humans. The feat was performed 1,000 times faster than a human team could have achieved it, the researchers claimed, marking a major step towards building self-evolving machines. “Design activity... distinguishes humanity from other animals and traditional machines, and endowing machines with design abilities at the human level or beyond has been a long-term pursuit,” the scientists wrote in a paper detailing their research. “We present a new AI approach to automatically design a central processing unit (CPU), the brain of a computer, and one of the world’s most intricate devices humanity has ever designed.” The project involved the layout of an industrial-scale RISC-V CPU, capable of running the Linux operating system and achieving an accuracy of 99.99 per cent in validation tests. The AI bypassed the manual programming and verification process of the typical design cycle, which the researchers said “consumes more than 60-80 per cent of the design time and resources” of human teams. The AI was also able to autonomously make discoveries involving computer design, uncovering something called the von Neumann architecture, first invented in 1945. The overall performance of the CPU is relatively modest compared to modern computers, with the researchers saying it can perform at a similar level to a 1991 Intel 80486SX CPU. Developing the AI approach, however, has the potential to “reform the semiconductor industry by significantly reducing the design cycle”, the researchers said. The research is detailed in a study, titled ‘Pushing the limits of machine design: Automated CPU design with AI’. Leading AI chip maker Nvidia has previously used artificial intelligence to optimise its computer chip designs, publishing a new approach to AI-powered chip design in March that could significantly improve the cost and performance of CPUs. Read More 10 ways AI will change the world – from curing cancer to wiping out humanity Harvard’s new computer science teacher is a chatbot Google’s DeepMind unveils AI robot that can teach itself unsupervised Robots can now learn new skills like picking up knives by watching YouTube videos

By Yelin Mo and Brenda Goh BEIJING Apple's iPhone 15 drew mixed reactions in its third largest market