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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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ShareChat to close a $300 million deal with Google

Google and a few others are reportedly in discussion with Mohalla Tech’s ShareChat for a $300 million funding for the short video platform. It is based on a $5 billion valuation and the deal is expected to be closed by this month.

Google, Temasek, and others back ShareChat

Ever since TikTok (formerly Musical.ly) came into existence, the platform changed the video creation process to a whole new level. Short videos were embraced and shortly, other popular apps like Youtube and Instagram came up with their alternative – Shorts and Reels.

While these international giants were growing all over the world, Indian startups like ShareChat, MX TakaTak, and Moj were also coming into the picture. As of today, ShareChat has over 180 million users, and Alphabet Inc’s Google appears to be enthralled by its popularity, as it does its second backing for an Indian short video platform.

Mohalla Tech, ShareChat’s parent company is in talks with Google to close a $300 million funding over a $5 million valuation, as reported by Reuters. Google’s just one big name, there’s also Temasek and others investors backing the Indian start-up Mohalla Tech. The deal is expected to end in June.

“Mohalla Tech is in an advanced stage of discussion with Google, existing investor Temasek and other investors to close a USD 300 million funding round. The transaction is expected to value ShareChat at around USD 5 billion,” said an industry source.

When asked to comment about the deal, Mohalla Tech did not respond. Google and Temasek as well didn’t reveal any tidbits about the funding.

While the popular short video sharing platform, ShareChat is getting backing from reputed giants, it is worth noting that it is not the only company that Google invested in. Some time ago, Google also invested in Josh, another Indian short video platform that competes ShareChat.

It shows how much potential the short video space has in markets like India. As said above, ShareChat has 180 million monthly active userbases. The numbers themselves reveal the knack of the short video apps. Moj and MX TakaTak, which was recently acquired by Mohalla Tech, in total have a 300 million userbase.

The post ShareChat to close a $300 million deal with Google appeared first on BGR India.



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