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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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You will be able to buy a Tesla using Bitcoin in the future: Elon Musk

Tech billionaire Elon Musk‘s electric vehicle company Tesla has invested $1.5 billion (Rs 10,935 Cr approx) in the bitcoin cryptocurrency, according to its annual 10-K report filed with the US Securities and Exchange Commission (SEC).

This has led to the crypto reaching an all-time high valuation as Tesla has become the largest company to back a cryptocurrency that’s been under the radar for a while.

Bitcoin for Tesla cars

Tesla CEO Elon Musk said that it will also “begin accepting bitcoin as a form of payment for our products in the near future.”

Thanks to a 15 percent jump, Bitcoin went north of the $40,000 valuation for the first time as Tesla made the disclosure in a regulatory filing. The company said that it would be accepting the digital token as payment as a form of payment for all of its products.

The announcement doesn’t come as a surprise as Tesla customers have been requesting the company to accept bitcoin as a form of payment in exchange for its cars.

Bright future for Bitcoin?

“In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximise returns on our cash that is not required to maintain adequate operating liquidity,” Tesla said in the report.

“Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” it added.

Elon Musk has shown interest in the controversial crypto before as well and Tesla’s investment in Bitcoin will lend a lot of credibility to the future and security of the cryptocurrency that has been criticized for facilitating money laundering and funding crime and terrorism across the globe. The crypto has also been criticized due to the inability of banks to regulate it.

Musk has also been sending tweets in support of Dogecoin over the past week, leading to a rise in the cryptocurrency’s value. 

–with inputs from IANS.



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