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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 pulls out of $44 billion deal to buy Twitter, now company board plans to sue him

Elon Musk has made an official attempt to abandon the $44 billion deal to buy Twitter. In a filing with the Securities and Exchange Commission on Friday, Musk and his team alleged Twitter has not been forthcoming about its user data and the way the platform handles spam in what might be a “material breach” of the agreement. The pullout is only the latest dramatic episode in the Musk-Twitter saga. Musk has been sending strong hints that he is no longer interested in buying Twitter only a few days after the deal was signed in April.

“For nearly two months, Mr Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,’” a clause in the regulatory filing reads. “Twitter has failed or refused to provide this information.”

Twitter, however, is not in a mood to entertain Musk’s latest bout of “what-ifs”. The microblogging platform is hoping to close the deal and for that, it has challenged Musk that legal action is coming his way soon. “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr Musk and plans to pursue legal action to enforce the merger agreement,” wrote Twitter board chairman Bret Taylor. “We are confident we will prevail in the Delaware Court of Chancery.”

The post Elon Musk pulls out of $44 billion deal to buy Twitter, now company board plans to sue him appeared first on BGR India.



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