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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 becomes first person in history to lose $200 billion in net worth

If you have lost money in shares recently, read this. Tesla and Twitter CEO Elon Musk has become the first person ever to lose $200 billion from his net worth, and is still making jokes on the micro-blogging platform. According to a Bloomberg report, Musk has now seen his wealth drop to $137 billion following a recent drop in Tesla shares. The shares of his electric car company are down nearly 65 per cent.

In January 2021, Musk became the richest person in the world for the first time, with a net worth of more than $185 billion. Musk saw his fortune peak in November 2021, hitting $340 billion, before a massive drop. Last month, he was replaced by Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, as the world’s richest man.

The Tesla CEO’s wealth eroded further after he bought Twitter for a whopping $44 billion. On Monday, when a follower tweeted that “you worked hard this year and lost over 200 billion and this year, you will surpass yourself with even worse decisions,” Musk replied: “Thanks for paying me $8”.

Another follower posted: “If you’re having a bad year because you lost a lot of money in the market, remember that Elon Musk has lost $200 billion and is still making jokes on Twitter.” Musk had admitted to having too much on his plate, and is finding a new Twitter CEO.

Meanwhile, Tesla also announced a price drop in several of its models, offering a $7,500 discount for its Model 3 and Model Y vehicles, in a bid to sell more vehicles.

Responding to a Twitter user, Musk recently said that the microblogging platform is not going bankrupt but is not secure yet. Farzad Mesbahi, a YouTuber who covers future technologies, tweeted: “On today’s All In podcast @elonmusk says, We’ve gotten the expenses (of Twitter) under control, so the company isn’t on the fast lane of Bankruptcy anymore”. Also Read – Twitter bans 48,624 accounts for policy violations in India

To which Musk replied: “Twitter isn’t secure yet, just not in the fast lane to bankruptcy. Still much work to do”. Earlier, Musk in his monetisation drive to save Twitter rolled out Blue tick subscription, which costs $8 per month to purchase on the web or $11 per month via the iOS App Store.

 

–IANS

The post Elon Musk becomes first person in history to lose $200 billion in net worth appeared first on BGR India.



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