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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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Bitcoin price falls significantly today, Ether value tumbles too

Bitcoin price drops significantly today, i.e June 9, 2021. Bitcoin is one of the major and most popular cryptocurrencies in the world. The price of Bitcoin tumbles 3.22 percent to a two-week low today.

At the time of writing the article, the price of largest cryptocurrency is set at 33,690.30 United States Dollar, which is a low-week low and investors are worried.

Bitcoin price drops: Check details

In the last few months, the price of Bitcoin peaked following the interest of popular names such as Tesla CEO Elon Musk in the cryptocurrency. Ever since Musk announced that his company will accept payments in Bitcoin, the price of the cryptocurrency peaked to $64,870 in April.

While it’s due to Musk and his regular tweets that Bitcoin value jumped in the last few months, it’s again due to Tesla CEO’s disinterest that the price of Bitcoin dropped significantly.

Last week, Musk tweeted about breaking up with Bitcoin, which was once his preferred cryptocurrency. The price tumbled after Musk said that this company will not accept payments in the form of Bitcoin due to “rapidly increasing use of fossil fuels for Bitcoin mining and transactions”.

As per coinmarketcap.com, Ether, which is the second-largest cryptocurrency in the world, also recorded a decline of around 5.82 percent to $2,446.88 as of Wednesday morning. Ipek Ozkardeskaya, senior analyst at Swissquote commented on the matter a per a report from Bloomberg, “The major price support stands at the $30K level, and a slide below this handle could run into stops and accelerate the sell-off in the short run.”

Dogecoin, which gained popularity due to Tesla CEO, has witnessed a turbulent year so far. Due to the rise in interest, Dogecoin price peaked from less than a dime in January 2021 to nearly 70 cents in May 2021.

 

 



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