Zepto has come under the ED's scanner as part of its probe into Parimatch. This and more in today's ETtech Top 5.Also in the letter:■ Wipro shares under pressure■ Anthropic seeks AI slowdown■ AirTrunk's India betParimatch probe takes ED to Zepto's doorstep The Enforcement Directorate (ED) has dragged quick commerce firm Zepto into its Parimatch probe, widening its crackdown on offshore betting apps.Parimatch, banned in India, allegedly continues to operate through mirror websites that keep punters hooked despite the crackdown.What's the matter?The ED says Zepto promoted Parimatch by slipping its flyers into customer orders, pushing betting pitches straight into living rooms.Officials are examining whether Zepto properly vetted Parimatch before running the promotions, especially given a 2022 government advisory that explicitly warned platforms against carrying betting ads. Tell me more: Sources told us the ED has also emailed other quick commerce players, asking for details of any association—however minor—with Parimatch.Parimatch also allegedly fronts itself as “Parimatch Sports” and “Parimatch News,” blurring the lines between media, sport and betting. Investigators say offshore betting platforms increasingly hide in plain sight, leaning on surrogate brands, influencer deals and sports-themed social media pages to smuggle betting promos into mainstream feeds.FEMA case against Myntra closed following compounding: ED A foreign exchange violation investigation against Flipkart-backed online fashion-and-lifestyle platform Myntra has been "terminated" after the RBI issued a compounding order based on a "no objection" given by the Enforcement Directorate (ED).Tell me more: Myntra, according to the ED, made a one-time payment of Rs 2.88 lakh to get the case compounded or closed. The latest statement said the ED was probing the company for two alleged FEMA contraventions involving transactions worth Rs 45.88 crore. Silicon Valley's South Park Commons ramps up India deeptech push As software economics evolve, investors are increasingly backing deeptech, says Aditya Agarwal, general partner at venture capital firm South Park Commons (SPC), which is keen to deepen its focus on India.Newer bets: Global and Indian venture capital firms are increasingly backing sectors such as semiconductors, robotics, and space tech rather than only software startups, noted Agarwal.He added that nearly half of SPC’s recent investments have been linked to deeptech themes.Quote, unquote: "With hardtech and deeptech, people will need to learn to get uncomfortable and truly bet on technical risk and the team. It takes longer to know if something is good. It takes longer to get revenues. There’s an element of patience required," Agarwal said.Tell me more: SPC plans to invest between $500,000 and $10 million while continuing to back both software and deeptech startups. "We still believe consumer software, healthcare software, B2B SaaS, and fintech will continue to account for roughly 40-50% of investments," Agarwal said.Founded in Silicon Valley in 2016 by Agarwal and his wife, Ruchi Sanghvi, SPC has backed about eight Indian startups, including Meesho, Cure.fit, Arctus Aerospace, Maya Research and Cent AI.Wipro plunges 8% after shares turn ex-record date for Rs 15,000 crore buyback Wipro shares dropped nearly 8% on Friday, even as the broader market rose, following the cut-off date for its Rs 15,000 crore share buyback.Jargon buster: A share buyback is when a company repurchases its own shares from investors, usually at a premium to the market price, giving shareholders the option to sell their holdings back to the company.The aim is to increase share value, use surplus cash, and prevent hostile takeovers or increase promoter holdings.More details: Wipro shares dropped to around Rs 188 on the NSE, even as benchmark indices and most major IT stocks, including TCS, Infosys and Tech Mahindra, traded higher.Investor sentiment was also hit after a former employee accused the company of workplace discrimination, harassment and being forced to resign.Wipro buyback: June 5 was set as the record date for the buyback. Shareholders whose names appeared in the company's records on that date are eligible to participate.Companies usually buy back shares to increase share value, utilise surplus cash, prevent hostile takeovers or increase promoter holdings.Wipro's shares closed at Rs 198.05 on the NSE, down around 3% on Friday.Source: Google FinanceAnthropic wants AI development to slow down globally, warns humans could lose control otherwise Dario Amodei, CEO, AnthropicAnthropic, now edging toward a trillion‑dollar valuation, is calling for a verifiable global mechanism to slow or temporarily pause frontier AI development, warning that safety risks are compounding faster than guardrails can keep pace.What's happening: A week after filing for its IPO, Anthropic warned in a blog post titled “When AI builds itself” that cutting‑edge systems are already automating chunks of their own research and could soon reach “recursive self‑improvement”—designing and building their successors with minimal human input. Why Anthropic is worried: Offloading more development work to AI models may speed up progress, but Anthropic argues it also dilutes human control, makes errors harder to trace, and can turbocharge existing flaws such as hallucinations.In the coming months, Anthropic plans to meet policymakers, researchers and rival AI labs to hash out verifiable slowdowns and regulatory tools that keep humans firmly in the loop as models grow more capable, and thus, more opaque.Meanwhile: Reserve Bank of India (RBI) governor Sanjay Malhotra said the central bank is “fully prepared” to deal with Anthropic's frontier model Mythos, even as it awaits final technical details.AirTrunk announces $30 billion investment in India for data centres PM Modi with AirTrunk's CEO Robin KhudaAustralian data-centre operator AirTrunk plans to invest about $30 billion into India by 2030, becoming the latest global heavyweight to place an outsized bet on the country’s digital build‑out.Driving the news: AirTrunk will build 5 GW of data‑centre capacity across India, saying the spend will sharply lift “digital infrastructure capacity” across multiple sites nationwide. AirTrunk CEO Robin Khuda, who met Prime Minister Narendra Modi this week, said the company plans to “double down” on its India play.Why this matters: This is among the largest proposed bets in India’s data‑centre space, adding to a rush of billion‑dollar projects from global giants like Google and local powerhouses such as Reliance Industries.Founded in 2015, AirTrunk built Australia’s first and largest hyperscale data centres in 2017 and has since expanded into a hyperscale platform spanning key markets across the APME region.