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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 to focus on Tesla now that a new Twitter CEO has been hired

The appointment of Linda Yaccarino, former Chairman of Global Advertising and Partnerships at NBC Universal, as Twitter CEO will free Elon Musk to devote more to Tesla and bring it back on course.

Musk’s role will now transition to being executive chair and CTO, “overseeing product, software and system operations.”

“Bringing on Linda allows me to devote more time to Tesla, which is exactly what I will be doing,” Musk said on Saturday.

Tesla’s operating income decreased 24 per cent to $2.7 billion in Q1 2023 as the Musk-run EV maker continues to cut prices of its vehicles.

In an earnings call with analysts, Musk said that Tesla will start delivering its long-delayed Cybertruck in the third quarter of 2023.

“It takes time to get the manufacturing line going, and this is really a very radical product. It’s not made in the way that other cars are made,” Musk said late last month.

In the first quarter, Tesla’s automotive revenue reached about $19.9 billion, an 18 per cent increase YoY.

Tesla ended the March quarter with free cash flow of $441 million, down 80 per cent from the same period last year.

The company has drastically lowered the prices of EVs across its lineup in the US and Europe, in an effort to boost sales as its stock plummeted more than 60 per cent earlier this year.

Musk had hinted that more price increases may be on the way as Tesla adjusts to the demand created by the massive price cuts.

— IANS

The post Elon Musk to focus on Tesla now that a new Twitter CEO has been hired appeared first on Techlusive.



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