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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Jio Platforms stake sale: Intel becomes 11th investor with Rs 1,894.50 crore investment

Jio Platforms, the technology subsidiary of Reliance Industries, has announced its twelfth investment. Intel is investing Rs 1,894.50 crore for a stake of 0.39 percent. With this investment, the digital venture has now raised a total of Rs 1,17,588.45 crore from Facebook and other leading technology investors. Intel’s investment is identical to one made by L Catterton and is among the smallest for the company. Reliance has now sold 25.09 percent stake in Jio Platforms to leading investors.

Jio Platforms sells 0.39 percent stake to Intel

Jio Platforms’ impressive stake sale run started with Facebook‘s acquisition of 9.99 percent stake for Rs 43,574 crore on April 22. Silver Lake, Vista, General Atlantic and KKR announced investments in May. Last month, Mubadala, ADIA TPG, L Catterton and PIF joined these investors while Silver Lake announced additional investment. Now, the company has found its 11th investor in the form of Intel and 12th investment, taking the total raised to Rs 1,17,588.45 crore.

The deal announced today values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This is the largest continuous fund raising by any company in the world. Intel Capital, the corporate venture capital of semiconductor giant Intel, has written the cheque to RIL subsidiary. Earlier, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, had said that RIL does not plan to sell more stake in the digital venture.

What is Jio Platforms and why investors are pouring money in it

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What is Jio Platforms and why investors are pouring money in it

However, we might see smaller stake sales like the one announced today going forward. There are rumors of Microsoft and Twitter interested in buying stake as well. The last big investment in Jio Platforms was by Saudi Arabia’s sovereign wealth fund, which invested Rs 11,367 crore for a 2.32 percent stake. The subsidiary of RIL is exploring the option to list itself on international stock exchange in the next five years. It is selling the dream of digitizing India’s unorganized sector and investors are buying it.



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