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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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Elon Musk does not want to take on more debt for $44 billion Twitter deal: Report

In April, Elon Musk announced he will buy Twitter for $44 billion. The business tycoon plans to buy out all the public shares to take the micro-blogging site private. However, a new report now suggests that Musk may be looking for other investors who would be willing to share the investment burden of the mega acquisition.

A new report from Reuters has claimed that Musk plans to tie up less of his own wealth with the Twitter deal. He is in talks with both large investment firms and high-net-worth individuals to help in financing the deal.

While Musk is the world’s richest man with a net worth of $245 billion, most of his money is in the form of Tesla shares. He also liquidated $8.5 billion worth of Tesla shares last week, in order to go ahead with the Twitter deal.

The involvement of more investors will dilute Musk’s shares in the social media platform. The billionaire was expected to put in $21 billion in cash for the deal as well as take a loan against his Tesla shares. The new report suggests that Musk may be planning to reduce his overall investment.

If Musk manages to get in more investors in the deal, he will also be able to reduce the loan size he initially planned to take to fund the deal. Musk had pledged a portion of his Tesla shares to arrange a loan of $12.5 billion. The report suggests that Musk may be planning to reduce the debt he was initially planning to take on to finalise the payment.

The Reuters report also gives us two prospect investors that are in talks with Musk. Apollo Global Management Inc (APO.N) and Ares Management Corp (ARES.N) are among the few private equity firms that may provide Musk with more financing for the deal.

Another way Musk is trying to reduce the overall burden of the deal is by asking Twitter executives to buy into the deal instead of cashing out. One of the people who are yet to take a decision on this will be Jack Dorsey, the former Twitter CEO.

Earlier Musk had clarified via a Tweet that he will try to keep as many investors in Twitter as possible when he takes the company private.

The post Elon Musk does not want to take on more debt for $44 billion Twitter deal: Report appeared first on BGR India.



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