Anthropic neared a trillion-dollar valuation following fresh funding. This and more in today’s ETtech Top 5.Also in the letter:■ PLI 2.0 goes more local■ Oxyzo earnings jump■ AI enters GCCsAnthropic raises $65 billion at $956 billion valuation, launches Opus 4.8 Dario Amodei, CEO, AnthropicArtificial intelligence (AI) company Anthropic has raised $65 billion in its latest funding round, at a post-money valuation of $965 billion, putting it well ahead of rival OpenAI.The details: With this series H round, Anthropic's worth has more than doubled from $380 billion in February, reflecting its swift rise as a leading competitor in the AI race.Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital led the round. Co-leaders include Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, and XN.Tell me more: The latest round includes $15 billion of previously committed investments from hyperscalers, including $5 billion from Amazon. Strategic infrastructure partners Micron, Samsung, and SK Hynix also participated in the round.Anthropic's pursuit of private funding coincides with its preparations for a ⁠public listing.Opus 4.8 launch: Anthropic said it is launching an upgraded Claude Opus 4.8 model as it works to release its powerful ‌Mythos ⁠model ⁠in the coming weeks.The company said Opus 4.8 will be available for the same price as its predecessor and shows improvements across benchmarks, particularly in honesty.Also Read:Anthropic strengthens India team, appoints Sangeeta Bavi to lead startupsETtech Explainer: Why Google was fined Rs 30 lakh in Hindware trademark case The Delhi High Court has ordered Google to pay Rs 30 lakh in damages after holding the company liable for trademark infringement in a dispute with sanitaryware maker Hindware over keyword advertising.Case details:Hindware sued Google and rival sanitaryware companies over their use of “Hindware” and similar search terms in Google Ads.The company said ads for competing brands appeared when users searched for Hindware products online.Hindware argued that this diverted customers and competitors unfairly benefited from its brand goodwill.What the court said:The judge ruled that using a registered trademark as a keyword amounts to commercial use under trademark law.It rejected Google’s defence that it functioned only as a neutral intermediary platform, and ruled that it actively participated through keyword suggestions, ad rankings, and auctions.The court held that invisible keywords can still influence customer behaviour and online traffic.Other than the fine, Google has also been directed to bear Hindware’s litigation costs.Implications: The ruling is significant as it could increase scrutiny on digital platforms and advertisers that bid on competitors’ brand names to attract online traffic.PLI 2.0 scheme for mobile phones may ring louder The updated production linked incentive (PLI) scheme for mobile phones may aim for more than 55% domestic value addition, officials told us.Driving the news: The programme is being shaped to align with the Rs 40,000 crore electronic component manufacturing scheme (ECMS) to boost local sourcing.The finance ministry has raised concerns about continued reliance on imports for high-value components, even though the current PLI has helped make India a major smartphone assembly and export hub. The Expenditure Finance Committee has asked MeitY to revisit localisation targets and the incentive structure.What will change: The finance ministry favoured a calibrated incentive framework that links pay-outs more closely with local sourcing and backward integration than the current scheme. The revised approach is expected to work in tandem with ECMS to promote a more holistic electronics supply chain.What else: Officials noted that key elements of the current scheme will be retained considering the 32 beneficiary companies approved per that, which have surpassed most of the initial targets.Also Read:MeitY to revamp IT hardware PLI later this year, say officialsOxyzo Financial Services posts 11% growth in profits, revenues up 23% Ruchi Kalra, cofounder, OxyzoOxyzo Financial Services reported double-digit growth in profit and revenues in FY26, driven by expansion in its lending business.Financials:Revenue from operations: up 23% to Rs 1,489 crore.Net profit: up 11% to Rs 375 crore, from Rs 339 crore in FY25.Profit before tax: rose to Rs 505 crore from Rs 456 crore a year earlier.Interest income: increased to Rs 1,407 crore from Rs 1,141 crore, driving Oxyzo’s performance.Net profit margin: Moderated to 25.2% from 28.1% due to higher finance costs and operating expenses.What else? Oxyzo Financial Services, which was spun out of OfBusiness in 2022, is expanding beyond business lending. The company said its board has approved the acquisition of GoldenPi Technologies to enter the retail bond market and widen its investment offerings for individual and high-net-worth punters.Also Read:Oxyzo enters fund management, launches performing credit fundOf diapers and doctors: How India's GCCs are putting AI to work Global capability centres (GCCs) of multinational firms in India are putting AI to work in creative ways.Executives told Reuters they are deploying AI across functions to automate time-consuming tasks that once used to take hours.For instance: Apollo Hospitals has adopted an AI clinical assistant to help doctors gather patient data and generate insights quickly.Teams at Catalyst Brands, ⁠the owner ‌of US department store chain JC Penney, are piloting computer-generated imagery to create product visuals and videos.Kimberly-Clark, maker of Huggies diapers, is using AI to speed up marketing processes. IBM is working with the government to explore AI adoption and help with upskilling initiatives.Also Read:GCCs switching to smart workflows as AI gobbles up procedural grunt work