NiSource has signed a long-term power purchase agreement with Alphabet and expanded an existing agreement with Amazon, positioning the utility as a preferred infrastructure partner for hyperscale data center operators. The deals reflect accelerating demand from major technology companies for dedicated, long-duration power supply commitments as AI-driven compute buildouts strain regional grid capacity. NiSource, which serves customers across six states in the Midwest and Mid-Atlantic, gains contracted revenue visibility that supports capital deployment planning and rate base growth. For Alphabet and Amazon, locking in utility-scale power under long-term contracts reduces exposure to spot energy price volatility and secures capacity ahead of projected demand curves. Investors will watch for NiSource's disclosure of contract terms, capacity volumes, and how the deals factor into forward earnings guidance, as sustained hyperscaler demand has become a meaningful re-rating catalyst for regulated and semi-regulated utilities with viable interconnection pipelines.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
