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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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Crypto prices today: Bitcoin, Ethereum witness sharp drop in last 24 hours

Bitcoin and Ethereum, two of the biggest cryptocurrencies in the world have witnessed a significant dip in value. As of writing this article, the price of one bitcoin is $27,547.19 and the price of 1 ether is $1,463.15, according to Coingecko.

While Bitcoin has witnessed a dip of 6.1 percent in the past 24 hours, Ethereum has reported a significant drop of 12.7 percent. In the past seven days, Bitcoin has dropped by 7.8 percent and Ethereum is down by 18.9 percent.

In line with the dip of the two biggest cryptocurrencies, the overall market cap is also down substantially. The global cryptocurrency market cap today is $1.15 trillion. There is a dip of 7.8 percent in the last 24 hours alone.

Total cryptocurrency trading volume in the last day is at $82.2 Billion. Bitcoin dominance is at 45.6% and Ethereum dominance is at 15.4%.

The crypto market has been moving sideways since early this year and Bitcoin recently fell below the Rs 30,000 mark. The Indian govt, during the budget this year, announced new ways in which the crypto ecosystem will be tracked and taxed. One such method is by charging a 1 percent TDS (Tax deducted at Source).

Recently, there was an error in the Income Tax Department’s website which updated the tax deductible at source on virtual digital assets remains at 0.1 percent instead of 1 percent. The income tax department later provided clarification regarding the same claiming that the TDS rate for virtual digital assets remain the same at 0.1.

An official clarification provided by the company said, “Some media reports have come to the notice of CBDT claiming that the rate of TDS on Virtual Digital Assets (VDA) has been reduced to 0.1 percent. It is hereby clarified that there is no change in the rate of TDS on VDA, which continues to be 1 percent.”

The post Crypto prices today: Bitcoin, Ethereum witness sharp drop in last 24 hours appeared first on BGR India.



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