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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 jumps after Elon Musk tweets Tesla will accept crypto in future

Bitcoin price jumps again after being at all time low the whole of last week. The value of the cryptocurrency rises after Tesla CEO Elon Musk tweeted on Sunday that his electric car company will accept Bitcoin as payment method in future, but there’s a condition to it. Musk said that Tesla will resume bitcoin transactions when miners use more renewable energy.

In the tweet Musk mentioned, “when there’s confirmation of reasonable (~50 percent) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”

Following Musk’s tweet, Bitcoin value jumped 5.1 percent to $37,360.63, which roughly translates to around Rs 27.3 lakhs as of 18:10 GMT (11:40pm IST) on Sunday. At the time of writing the article around 13:16pm on Monday, Bitcoin price in India stands at 28.9 lakhs.

Elon Musk Bitcoin

In the same tweet Musk said that Tesla sold about 10 percent of holdings to confirm Bitcoin could be liquidated easily without moving market. “This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market,” Musk said in the tweet.

Back in May this year, Musk announced that Tesla will no longer accept Bitcoin for car purchases. He said that the reason behind not accept Bitcoin as payment method is the long-brewing environmental concerns.

Bitcoin value dipped after Musk’s tweet last month. Musk believes that Bitcoin has a promising future, but it cannot be at great cost to the environment.



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