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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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Snapchat blames Apple’s privacy changes for missing revenue expectations

Snap witnesses stock tumbling 22 per cent after missing revenue expectations for its third-quarter (Q3) earnings. The daily active users on Snapchat increased 23 per cent (year-over-year) to 306 million. The shares fell as Apple’s iPhone privacy changes disrupted Snap’s advertising business.

In an earnings call late on Thursday, Snap CEO Evan Spiegel said that the company missed the lower end of its guidance due to a few key factors, including changes to advertising tracking on iOS and macroeconomic factors that have impacted our advertising partners.

“Our advertising business was disrupted by changes to iOS and tracking that were broadly rolled out by Apple in June and July. While we anticipated some degree of business disruption, the new Apple provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS,” he elaborated.

He admitted that the impact was compounded by the ongoing macroeconomic effects of the global pandemic, with its advertising partners facing a variety of supply chain interruptions and labour shortages.

“The ongoing magnitude and duration of these global supply and labor disruptions are inherently unpredictable and in the meantime, we are focused on supporting our partners in this uncertain environment,” the Snap CEO said.

The company generated total revenue of $1.067 billion in Q3, an increase of 57 per cent year-over-year.

Despite the challenges, Snap crossed $1 billion in quarterly revenue for the first time.

For the fourth quarter of 2021, the company expects revenue to be $1.16-1.20 billion.

(Inputs From IANS)

The post Snapchat blames Apple’s privacy changes for missing revenue expectations appeared first on BGR India.



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