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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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Tesla chief Elon Musk is now 2nd richest in world, surpasses Microsoft’s Bill Gates

Tesla chief Elon Musk has surpassed Microsoft co-founder Bill Gates to become the second-richest person in the world. The Bloomberg Billionaires Index on Monday put the Tesla chief executive – with a $127.9 billion fortune – above Gates – at $127.7 billion – for the first time.

The 49-year-old entrepreneur Elon Musk has added more than $100 billion to his net worth since January 2020, making him one of the fastest-growing among the world’s 500 richest people. The jump in Musk’s fortune came as the shares of the electric car-maker Tesla soared and its market cap neared $500 billion on Monday.

The wealth gap between Musk and Gate is not huge, and it is possible they could switch places again.

Bill Gates’ current net worth is $127.7 billion, and he would have ranked on the top had he not donated so prodigiously to charities over the years. Gates has donated more than $27 billion to his namesake foundation, Bill & Melinda Gates Foundation, since 2006.

Gates was the richest man for four years running till 2017 when Amazon CEO Jeff Bezos overtook him. Bezos continues to be the richest man in the world with an estimated net worth of $182 billion.

Earlier this year, Gates had stepped down from the company’s board of directors. The move was Gates’ decision to allow him to focus and dedicate more time to his philanthropic priorities. Gates co-founded Microsoft in 1975 along with Paul Allen. He still continues to serve as Technology Advisor to current Microsoft CEO Satya Nadella and other leaders in the company.

Written with agency inputs



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