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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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Who is Andy Jassy, the next Amazon CEO?

Jeff Bezos, who has been the CEO of Amazon since he founded the company nearly 30 years ago, will step down from his role later in the year. Bezos said in a letter to his “fellow Amazonians” that he intends to focus his energies and attention on new products and early initiatives.

Andy Jassy will be the CEO of Amazon

Bezos will be replaced by 53-year-old Andy Jassy, who has worked in the company since 1997 and has been instrumental in the development of the company’s cloud computing business, Amazon Web Services (AWS). Jassy will take over the reins in the third quarter of 2020.

“Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence,” Bezos said in the letter.

Andy Jassy: Early days at Amazon

Jassy joined Amazon after graduating from Harvard Business School and worked as a technical assistant to Bezos in the early 2000s, Reuters reported.

“I took my last final exam at HBS, the first Friday of may in 1997 and I started Amazon next Monday. No, I didn’t know what my job was going to be, or what my title was going to be. It was super important to the Amazon people that we come that Monday,” Jassy revealed in a Harvard Business School podcast of September last year.

Founded Amazon Web Service in 2006

He is the CEO of AWS, which he founded in 2006. AWS is among the biggest names in cloud computing, which competes with the likes of Microsoft Azure and Google Cloud.

Under Jassy’s leadership, AWS recorded its strongest quarter-over-quarter and year-over-year performance last year since its inception. The full-year revenue of $45.37 billion was recorded as it ended 2020. This is a 29.5 percent increase from 2019.

AWS recorded the strongest growth in 2020

Jassy said at the company’s ninth annual AWS re:Invent summit in December last year that the rate of growth in AWS continues to accelerate. He added that it is really hard to build a business that sustains for a long period of time.

“Ten years ago based on the revenue you’ll also see that AWS is nowhere to be seen in this list. And then if you fast-forward just 10 years, in 2020 you can see that AWS is now the fifth-largest enterprise IT company in the world, ahead of companies like SAP and Oracle. And of course, that growth is significantly driven by the growth of cloud computing in the infrastructure-technology space,” he said.

Jassy married in 1997

Part-owner of the new Seattle National Hockey League, the Kraken, Jassy is an avid sports fan. Jassy married Elana Rochelle Caplan in 1997. He is the father of two children.



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