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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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Apple has more than 2 billion active devices worldwide

Apple has announced its financial results for its fiscal 2023 first quarter that ended December 31, 2022, in which the tech giant revealed that it has crossed two billion active devices. The company also reported quarterly revenue of $117.2 billion, a 5 percent decrease year over year, and quarterly earnings per diluted share of $1.88.

Apple now has over 2 billion active devices globally

“As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do,” Tim Cook, Apple’s CEO, said in a statement.

“During the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base,” Cook added.

Apple’s board of directors has declared a cash dividend of $0.23 per share of the company’s common stock.

Shareholders with records as of the close of business on February 13 will receive the dividend on February 16, the iPhone maker said.

“We set an all-time revenue record of $20.8 billion in our Services business, and in spite of a difficult macroeconomic environment and significant supply constraints, we grew total company revenue on a constant currency basis,” said Luca Maestri, CFO, Apple.

“We generated $34 billion in operating cash flow and returned over $25 billion to shareholders during the quarter while continuing to invest in our long-term growth plans,” Maestri added.

For the unversed, Apple recently forecasted that its revenue would fall for a second quarter in a row but that iPhone sales were likely to improve as production had returned to normal in China after COVID-related shutdowns.

While striking an optimistic tone on sales of services and iPhones, CEO Tim Cook said an uncertain economy is expected to hurt categories like gaming and digital advertising.

For the just-ended quarter, Apple’s profits missed Wall Street expectations for the first time since 2016, dragged down by iPhone sales falling for the first time since 2020.

–With inputs from IANS

The post Apple has more than 2 billion active devices worldwide appeared first on Techlusive.



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