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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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Apple buys startup that converts iPhone into payment terminal

Apple has reportedly bought a new startup called Mobeewave Inc in a deal worth around $100 million. This company specializes in converting iPhones into payment terminals. According to sources quoted in the Bloomberg report, the valuation of the deal puts the company as a top focus for Apple. But the company refused to confirm the size of the deal.

Mobeewave has developed technology that allows card payments on iPhone via a tap on the device. Most likely, the company uses NFC technology for the payment to work. We have seen payments terminals offer a similar feature. But buying this company ensures the company can develop the ecosystem further.

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Apple Pay will benefit from the inclusion of this feature. But it’s easy to forget the company launched its own physical credit card last year. The card works in tandem with the Apple Wallet app which offers data and transactions in one place for the user.

Mobeewave integration comes at a crucial juncture for the brand and the payment industry, with the pandemic forcing people to sign up for digital payments. And NFC-based payment through their own iPhone could be a useful way of changing the market trend. It’ll be interesting to see how the payment ecosystem benefits from its latest acquisition.

Apple credit card launched

Apple was long rumored to be working on its own credit card. After months of rumors, the company finally revealed its own credit card called Apple Card. It says this is the next generation of credit cards with a number of improvements and new features. The iPhone maker has teamed up with Goldman Sachs as the issuing bank and Master Card as the global payments network to make this card a reality.

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The card is built in the Apple Wallet app which means users do not need to carry the card in person. Instead, it will be available to function from the device at all the places that support Apple Pay. Users don’t need to wait to get the Apple Card and instead the entire process is as simple as tapping a button in the app.



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