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SK Hynixs $3.87 Billion Investment Sparks AI Chip Innovation in Indiana

The secondlargest memory chip manufacturer in the world, SK Hynix, has announced a $3.87 billion investment to build an advanced packaging factory and

The secondlargest memory chip manufacturer in the world, SK Hynix, has announced a $3.87 billion investment to build an advanced packaging factory and research and development centre for AI products in Indiana, USA. A production line for high bandwidth memory HBM chips, which Nvidia supplies to train AI systems in graphics processing units, will be housed at the new site. During the second half of 2028, mass manufacturing and a packaging R&D line are expected to begin. Kwak NohJung, the CEO, highlights the facilitys contribution to strengthening the US AI chip supply chains resilience, pointing to resources like Purdue Universitys engineering faculty and government backing. With the recent mass manufacturing of HBM3E chips, primarily intended for Nvidia, a significant player in the semiconductor business, SKs $15 billion commitment to the sector is matched by this investment. Read More..

B2B Tech News | 14 days ago        

Chiles Central Bank Implements 75 Basis Points Interest Rate Cut, Adjusts Forward Guidance

The goal of Chiles central banks unanimous decision to further loosen monetary policy in response to the changing macroeconomic environment was to low

The goal of Chiles central banks unanimous decision to further loosen monetary policy in response to the changing macroeconomic environment was to lower the benchmark interest rate by 75 basis points to 6.50%. This action aligns with projections from a traders survey that indicated a decrease to 4.25% in the upcoming year. The earlier statement regarding attaining a "neutral level" by the second half of 2024 was removed from the banks updated forward guidance. The bank noted that, despite economic difficulties, including a recent spike in prices, inflation forecasts align with its 3% objective. Despite a severe economic slump in 2023, reports from the countrys macroeconomic imbalance resolution efforts show a noteworthy yearoveryear improvement in economic activity in Chile. Read More..

B2B Tech News | 14 days ago        

Indias FY24 Growth Estimated at 7.5%, World Bank Revises Upward FY25 Forecast

The World Bank has increased Indias economic growth prediction for FY25 to 6.6% the rise has been attributed to adjustments upward in investment growt

The World Bank has increased Indias economic growth prediction for FY25 to 6.6% the rise has been attributed to adjustments upward in investment growth. The estimated growth for India in FY24 is 7.5%, a little less than the official statistics. The construction and real estate industries are expected to support the reports strong growth in the services and industry sectors. Additionally, it predicts a reduction in inflationary pressures, opening the door for financial loosening. Over the medium term, debt and fiscal deficits are anticipated to decline, although private investment is still poor. The research urges strategies to increase private investment and enhance institutional quality for sustainable growth, cautioning that relying solely on public sector investment has dangers. It also highlights how important it is for South Asian nations to deal with poverty, business expansion, and job development issues. Read More..

B2B Tech News | 14 days ago        

Singtel Denies Imminent Deal to Divest Optus Amid Reports of Stake Sale Talks

Singtel, the biggest telecom company in Southeast Asia, reaffirmed that no agreement to sell its Australian division Optus was forthcoming. There have

Singtel, the biggest telecom company in Southeast Asia, reaffirmed that no agreement to sell its Australian division Optus was forthcoming. There have been rumours of discussions on a large share sale with Brookfield in Canada, but Singtel has refuted these reports. After negotiations broke up over differences in price and value, trade ceased. Half of Singtels business comprises its Optus and Singaporean operations the other half comprises minority investments in telecom companies, including Globe Telecom, Telkomsel, and Bharti Airtel. It is recommended that shareholders exercise caution in response to media reports until clear pronouncements are made. Before this, Optus was fined and subject to criticism after a network outage that impacted millions of Australians. Read More..

B2B Tech News | 14 days ago        

Intels Foundry Business Reports $7 Billion Operating Loss in 2023

In 2023, Intel revealed a notable rise in operational losses for its foundry division, amounting to $7 billion, as opposed to $5.2 billion in the year

In 2023, Intel revealed a notable rise in operational losses for its foundry division, amounting to $7 billion, as opposed to $5.2 billion in the year prior. Intels stock fell 4.3% as a result of this news. CEO Pat Gelsinger blamed previous choices, such as avoiding investing in Extreme Ultraviolet EUV equipment that would have reduced costs, for the losses. After anticipating further losses in 2024, the corporation hopes to break even by 2027. To become more competitive, Intel has switched to using EUV technologies. To draw in outside customers, Intel also intends to invest $100 billion in semiconductor plants throughout the United States and will disclose manufacturing activities separately. Read More..

B2B Tech News | 14 days ago        

Audi India Records 33% Surge in Retail Sales, Expects Strong Growth in 2024

For the fiscal year that ended on March 31, 2024, Audi India had a notable 33% increase in retail sales, selling 7,027 vehicles as opposed to 5,275 un

For the fiscal year that ended on March 31, 2024, Audi India had a notable 33% increase in retail sales, selling 7,027 vehicles as opposed to 5,275 units in the prior fiscal year. Supply chain interruptions hurt sales in the first quarter, but the firm is still confident it can sell more than 50,000 cars by 2024 because of strong demand and a wide range of products. Despite obstacles, Audi India continued to thrive, selling 1,046 cars domestically in only the March quarter. In addition, the preowned vehicle market had a 50% rise in FY 23–24 over FY 22–23, with a 25% gain from January to March. Read More..

B2B Tech News | 14 days ago        

Trump Medias Stock Dives 21% as $58 Million Losses Unveiled PostMerger

After revealing nearly $58 million in losses for 2023, Trump Media & Technology Group shares fell 21% on Monday, wiping all gains from its recent laun

After revealing nearly $58 million in losses for 2023, Trump Media & Technology Group shares fell 21% on Monday, wiping all gains from its recent launch. Given its low sales, analysts blame the decline on overvaluation and scepticism about profitability. Trump is prohibited from selling or using his 78.75 million shares for six months. Short sellers recovered a sizable portion of their losses during the selloff, making $65 million on Monday alone. Reddits $800 million sales in 2023 were significantly more than the companys $4.13 million, which raised questions about its ability to pay its debts. The future of Trump Media is further clouded by a legal battle it has with its cofounders about ownership shares. Read More..

B2B Tech News | 14 days ago        

Japan Approves Billions in Subsidies for Chip Foundry Venture Rapidus

Tokyos efforts to revive the nations chip manufacturing sector have included the approval of subsidies for chip foundry venture Rapidus, reaching up t

Tokyos efforts to revive the nations chip manufacturing sector have included the approval of subsidies for chip foundry venture Rapidus, reaching up to 590 billion yen $3.9 billion by the Ministry of Industry in Japan. This clearance follows a preliminary subsidy arrangement valued at around 330 billion yen. As part of the recently authorised aid, 53.5 billion yen will go into improved packaging, which is essential to improving chip performance. Under the direction of seasoned industry professionals, Rapidus plans to begin producing sophisticated chips in large quantities in Hokkaido by 2027, working with IBM and Imec. The action reflects international attempts to strengthen supply chain management over chips, spurred by the COVID19 epidemic and trade disputes. However, given Taiwan Semiconductor Manufacturing Co.s wealth of experience and knowledge in the sector, some industry experts need clarification about Rapidus prospects. Read More..

B2B Tech News | 14 days ago        



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