🌟 We're Back! OpenAI Flips, Swiggy Ghosted, and RBI’s Gold Rush

🌞 Good morning, Tuesday trailblazers! We’re BACK in your inbox after a brief unplanned 4 day break

Your newsletter team (hi 👋) was on the move and tragically underestimated how bad the Wi-Fi would be. The intention was daily drops, but the internet had other plans. Huge thanks to everyone who checked in and reached out. 💛 Now let’s catch up — and trust me, today’s edition is worth the wait. ☕️🔥

☕ Chai Shots

• 🧙‍♂️ Swiggy Genie Poofs Again: Swiggy’s hyperlocal pickup-and-drop service, Genie, has vanished across 70 cities including Delhi-NCR, Mumbai, and Bengaluru. Swiggy blames “operational constraints” — but this isn’t the first time Genie’s ghosted users. The company is doubling down on its 10-minute delivery biz, Bolt, now in 500+ cities.

• 🚗 Maruti Slips, Mahindra Zooms: For the first time in years, Maruti Suzuki’s passenger vehicle market share dipped below 40%. Mahindra & Mahindra is now in second place, thanks to sky-high SUV demand. Tata Motors held steady in third, while Hyundai slid to fourth.

• 💰 RBI Goes for Gold: India’s central bank added over 25 tonnes of gold in H2 FY25 — the biggest annual haul in 7 years! Total holdings now stand at nearly 880 tonnes, boosting the gold portion of forex reserves to 11.7%. The move comes amid global uncertainty and declining FX reserves.

• 🔋 Evera Scoops Up BluSmart’s EVs: With BluSmart's operations frozen and under scrutiny, Evera Cabs is stepping in to snap up 500 of its electric vehicles. Already 220 cabs and 150 drivers (including 10% women) have moved over. Expect a big EV push in NCR, especially at airports.

• 🧠 OpenAI Stays True to Non-Profit Roots: After initially planning a for-profit pivot, OpenAI now says its nonprofit arm will stay in charge. The for-profit unit will shift to a public benefit corporation, keeping mission oversight intact. The decision comes after civic and regulatory pressure. More in the Big Brew below. ☕️

📈 Market Masala

• 📊 Stocks Edge Up on Trade Optimism: Sensex gained 295 points to close at 80,796.84 and Nifty climbed 114 points to 24,461.15. This marked their highest close of 2025. Markets cheered the prospect of a U.S.-India trade deal and falling crude prices after OPEC+ flagged oversupply concerns.

• 🔄 Market Breadth Breaks Out: On May 5, the advance-decline ratio on the BSE shot up to 1.8 — its highest since April 2021. Nearly 3,000 stocks gained, signaling renewed investor confidence across the board. Analysts point to improving mid- and small-cap sentiment and strong FII inflows.

• ⚡ Adani Power Awaits Massive Dues: Adani Power is still waiting on nearly $900 million from Bangladesh for power supplied via its Godda plant. The company has already billed $2B and continues to deliver uninterrupted supply. It’s planning ₹13,307 crore in capex for FY26, including expansion at multiple thermal plants.

• 🪙 Gold’s Pre-Fed Sparkle: Ahead of the U.S. Fed’s rate decision, gold jumped over ₹2,000 per 10g on MCX, touching ₹94,700. Traders are hedging on a dovish stance, and experts expect swings between ₹93,000–₹96,000. Some suggest booking profits while others see more shine ahead.

• 👩‍💻 TCS Spreads the Variable Cheer (Mostly): TCS rolled out 100% variable pay to 70% of its employees based on unit performance. Higher bands and underperforming verticals received lower payouts. Despite a cautious hiring environment, TCS added 6,433 employees in FY25 and clocked $30B in revenue.

• 📉 OYO Hits Snooze on IPO Again: OYO has postponed its public debut for the third time since 2021 — this time due to pressure from major investor SoftBank and shaky market conditions. Despite hitting profitability last year and targeting a $7B valuation, SoftBank wants the company to wait until earnings improve.

🌍 Global Masala

• 🎬 Hollywood Tariffs on Hold (For Now): The White House has confirmed no final call yet on imposing tariffs on foreign films. The Biden administration says it’s still weighing all options as it looks to address concerns around content regulation and market access for Hollywood.

• 📉 Wall Street Cautious Ahead of Fed Meet: U.S. markets paused for breath as S&P 500 futures hovered near flat and investors braced for the Fed’s next move. The S&P fell 0.6% on Monday, breaking a nine-day rally. Traders expect the Fed to hold rates steady, but all ears are on Jerome Powell’s comments post-announcement.

☕ The Big Brew: OpenAI’s Governance Flip-Flop

🧠 What’s brewing: OpenAI has decided to stick with its non-profit governance structure, walking back earlier plans to restructure its for-profit arm. The company’s CEO Sam Altman said the new plan involves converting the for-profit LLC into a Public Benefit Corporation, but keeping overall oversight with the original non-profit.

🔍 Why it matters: The change follows discussions with regulators in California and Delaware, as well as pressure from civic leaders worried about AI’s growing influence. With this setup, OpenAI can still raise capital and grant equity, but with an added layer of ethical accountability.

💬 Altman says: "We want to build AI that benefits humanity. Staying grounded in our nonprofit roots lets us keep that mission central."

🔄 The bigger picture: The AI industry is under a microscope — from government hearings to global regulations. OpenAI’s move could set a precedent for how future AI powerhouses balance innovation and oversight.

⚖️ What does this mean for me? For the average user, this means fewer fears of AI going rogue in the name of profit. For regulators and investors, it’s a signal that OpenAI is trying to play by the rules — at least for now.

🚀 Startup Scoop

• 🥘 OYO Serves Up Hot New Revenue Stream: OYO is stepping into the food biz with in-house kitchens and its new ‘Townhouse Cafe’ lobby carts. After a pilot across 100 hotels in cities like Delhi and Bengaluru, it plans to scale up to 1,500 properties by FY26. Guests can now enjoy quick meals via the OYO app or grab bites straight from the cart. The F&B play could contribute 5–10% of hotel-level revenue and finally solve the “no dining” gripe at budget hotels.

• 📉 Zoplar Shuts Down Post-Funding: In a surprising twist, B2B healthcare startup Zoplar shut shop just weeks after raising $3.4M. The Blume Ventures-backed firm, which supplied refurbished medical devices to 300+ hospitals, was hit hard after India banned such imports. The capital is being returned to investors.

• 🧠 Zomato Quits Quick Again: Zomato has quietly pulled its 15-minute food delivery service, Quick, from its app just months after launch. The company is now going all-in on Blinkit’s Bistro, which operates its own kitchens and has more control over prep and delivery timelines. This marks Zomato’s second failed attempt at cracking the lightning-fast food game.

🤔 Chai Break Trivia

☕ Did you know India’s RBI now holds nearly 880 tonnes of gold? That’s up 57 tonnes in just one year — the biggest annual bump in seven years, driven by global uncertainty and a thirst for reserve safety.

🔮 What’s Brewing Next?

• 🏦 All eyes on the Fed policy decision this week.

• 🇮🇳 Keep watching India–U.S. trade deal signals — things are heating up.

That’s a wrap for today’s brew — hotter than Delhi in May and twice as loaded. ☀️💥 From IPO delays to electric takeovers and gold glows, we’re serving up more drama than a saas-bahu serial and more insight than your group chat economist.

Till tomorrow, stay caffeinated, stay curious, and don’t let the Wi-Fi ruin your vibe. 😎