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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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TikTok-like short video app Tiki to quit Indian market

Short-video-making app Tiki has announced it would cease operations in India from June 27, and users will no longer be able to watch or create their favourite short videos or live streams on the platform. In a message, the app, which had about 35 million monthly active users in the country (according to Sensor Tower data), said that they regret to inform them that Tiki will be shutting down its operations.

“As of 11.59 pm India Time, June 27, 2023, all Tiki functions and services will cease. The Tiki app will no longer be available for download from app stores,” the company said in a message posted on Twitter. “We want to inform you that all user data will be permanently deleted from our servers located in India and Singapore,” it added.

The company alerted users to download any videos “that are dear to you” before the shutdown.

“Additionally, please remember to withdraw any T coins you may have before the 27th. You can withdraw them on your own in the app. Unfortunately, we won’t be able to provide any assistance or support after the shutdown date,” Tiki added. It said that recent challenges faced by the tech industry have led to the closure of numerous startups, including Tiki.

“Despite being a small startup operating in Singapore and India, Tiki has always stood for being ‘A Place for Real Talents’. We are immensely proud and grateful for the Tiki Family comprising creators and users like you,” the company further said.

Tiki’s exit comes at a time when the popularity of short-video apps has exploded in India. Right after the ban on TikTok, a deluge of short-video-remix platforms emerged in India. But because of its popularity, Meta’s Instagram managed to capture almost TikTok’s entire market. Moreover, with the ban on TikTok, many Indian short-form apps have emerged as alternatives, attracting millions of users. According to market consultancy firm Redseer, Indian short-form video (SFV) market monetisation is at the cusp of a breakout and could potentially be an opportunity of $8-12 billion by 2030, owing to an increase in the adoption and usage of smartphones.

— Written with inputs from IANS

The post TikTok-like short video app Tiki to quit Indian market appeared first on Techlusive.



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