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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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Squid Game inspired cryptocurrency crashed after an apparent scam revealed

A Squid Game-inspired cryptocurrency collapsed on Monday after it was revealed to be an apparent scam. Anonymous scammers behind the cryptocurrency peaked at $2,861 before plummeting to $0 on Monday, made over $2.1 million before shutting the crypto project.

The SQUID crypto coin was trading at $0.003203, reports CoinMarketCap.

The developers behind the crypto project have left the project after the price of its affiliated token crashed to nearly zero.

They claimed on its official Telegram channel that its developers do not want to continue running the project due to the stress of dealing with scammers.

“Someone is trying to hack our project these days. Not only the twitter account @GoGoSquidGame but also our smart contract. We are trying to protect it but the price is still abnormal. Squid Game Dev does not want to continue running the project as we are depressed from the scammers and are overwhelmed with stress [sic]. We have to remove all the restrictions and the transaction rules of Squid Game. Squid Game will enter a new stage of community autonomy,” the developers’ Telegram channel wrote.

The latest development shows just how risky it can be to invest in a new and hyped token in the crypto market, reports CoinDesk.

Called “rug pull” by crypto investors, such digital scamming happens when the creators of the crypto quickly cash out their coins for real money, draining the liquidity pool from the exchange.

Launched last week, the Squid Game crypto project gained instant popularity and the token rose by more than 35,000 per cent in just three days – despite several red flags including grammatical and spelling errors in the project’s white paper.

Its Telegram channel, set up by the unknown scammers, also didn’t allow comments from outsiders.

(Inputs from IANS)

The post Squid Game inspired cryptocurrency crashed after an apparent scam revealed appeared first on BGR India.



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