Connect with us

Sci/tech

US awards $13.6 billion to Micron which has a chip plant in progress in India

Published

on

Washington, April 26 (IANS) The US government has announced a plan to award Micron Technology up to $6.14 billion in grants and $7.5 billion in loans to support the US chipmaker’s plan to build new factories, as it strives to bolster domestic semiconductor production.

Micron last year started construction of its India semiconductor plant in Sanand, Gujarat. The first ‘Make in India’ chip is all set to arrive in December from the Rs 22,500 crore Micron semiconductor plant.

The White House said that the Commerce Department has reached a non-binding preliminary agreement with the company to provide the proposed funding under the CHIPS and Science Act to back the construction of two leading-edge dynamic random-access memory (DRAM) fabrication plants in Clay, New York, and the development of a high-volume manufacturing fab in Boise, Idaho.

Micron plans to invest up to $125 billion across both states over the next two decades to build a “leading-edge memory manufacturing ecosystem,” it added, noting the company’s total investment will create over 70,000 jobs, including 20,000 direct construction and manufacturing jobs.

ALSO READ:  Homegrown Boult aims Rs 1,000 crore in revenue this fiscal year: Co-founder

“With this proposed investment, we are working to deliver on one of the core objectives of President Biden’s CHIPS program — onshoring the development and production of the most advanced memory semiconductor technology, which is crucial for safeguarding our leadership on artificial intelligence and protecting our economic and national security,” Secretary of Commerce Gina Raimondo said.

The announcement came after the department unveiled a plan last Monday to award Samsung Electronics up to $6.4 billion in grants to support the South Korean tech giant’s chip-making investment in central Texas, reports Yonhap news agency.

In addition to Micron and Samsung, Intel, TSMC Arizona Corporation, GlobalFoundries, the American subsidiary of BAE Systems Plc, and Microchip Technology Inc. have also been selected as subsidy beneficiaries.

The CHIPS Act sets aside $39 billion in incentives to encourage chipmakers to build, expand or modernise semiconductor facilities in the US.

The Commerce Department plans to invest about $28 billion of the total in leading-edge chipmakers, like Samsung.

ALSO READ:  Byju’s tells employees to WFH as it gives up office spaces amid cash crunch

The Biden administration pushes to deliver on its plan to produce about 20 per cent of the world’s leading-edge logic chips by 2030.

–IANS

na/

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Sci/tech

South Korea to open joint AI research lab in US

Published

on

By

Seoul, May 28 (IANS) South Korea’s science ministry said on Tuesday it will create a joint artificial intelligence (AI) research lab with New York University (NYU) in the US.

The Global AI Frontier Lab will be co-led by two distinguished computer scientists — Cho Kyung-hyun and Yann LeCun — who are both professors at NYU, according to the Ministry of Science and ICT. It will be established at NYU.

Cho is currently a board member of South Korea AI startup Upstage and LeCun is the chief AI scientist at Meta Platforms, reports Yonhap news agency.

The research organisation will invite experts from Seoul and Washington to conduct global-level AI research projects and facilitate cooperation between the two countries.

The Institute of Information & Communications Technology Planning & Evaluation, the ministry arm spearheading the joint AI lab, is set to start recruiting South Korean researchers to conduct studies at the research organisation.

–IANS

ALSO READ:  Sales of new Samsung Galaxy S24 rise 8 pc globally

na/

Continue Reading

Sci/tech

N. Korea says military reconnaissance satellite launch ends in failure

Published

on

By

Seoul, May 28 (IANS) North Korea said on Tuesday that its latest attempt to launch a new rocket carrying a military reconnaissance satellite ended in failure due to the midair explosion of the rocket during the first-stage flight this week.

Vice General Director of North Korea’s National Aerospace Technology Administration (NATA) said that the rocket carrying the satellite, the Malligyong-1-1, exploded after it lifted off from the Sohae Satellite Launching Ground on the country’s northwest coast on Monday, Yonhap news agency reported, citing the Korean Central News Agency (KCNA).

The launch came just hours after South Korean President Yoon Suk Yeol, Japanese Prime Minister Fumio Kishida and Chinese Premier Li Qiang held a trilateral summit in Seoul and reaffirmed their commitment to promote peace on the Korean Peninsula.

“The launch failed due to the air blast of the new-type satellite carrier rocket during the first-stage flight,” the KCNA reported, citing the NATA official.

ALSO READ:  Boeing Starliner's manned mission delayed again, likely to fly on May 25: NASA

A preliminary examination by experts from the North’s launch preparatory committee concluded that the “accident” was attributable to the operational reliability of a new “liquid oxygen plus petroleum” engine, the official said.

The other causes of the failure will also be examined, according to the KCNA.

–IANS

int/sha

Continue Reading

Sci/tech

India-US CEO Forum’s WG7 launch bilateral knowledge-sharing platform for MSMEs, startups

Published

on

By

New Delhi, May 27 (IANS) In a bid to help Micro, Small and Medium Enterprises (MSMEs) and startups integrate better in the global supply chain, the India-US CEO Forum’s Working Group 7 (WG7) on Monday launched the bilateral knowledge-sharing platform between India and the US.

The ‘Nihit Knowledge Platform’ will also boost jobs, said the forum on entrepreneurship, inclusive growth and promoting small businesses, in partnership with United Services Institute (USI) and CyberPeace Foundation.

The event also saw the launch of ‘Prakshepan’, a hackathon for MSMEs and startups with a prize pool and mentorship of over Rs 1 crore.

“The dialogue and the knowledge-sharing platform will enhance the bilateral relationship and unlock trade between India and the US, promoting inclusive growth by empowering startups and integrating MSMEs in the global supply chain and fostering a resilient, innovative, and inclusive economy,” said Subi Chaturvedi, Chief Corporate Affairs and Public Policy Officer, Global Senior Vice President (SVP), InMobi, and Sherpa WG7.

ALSO READ:  3 pregnant employees accuse Samsung of workplace accidents in S.Korea, seek compensation

The ‘Prakshepan’ hackathon will identify, mentor, and accelerate startups that contribute to enhancing the relationship between India and the US.

“This bilateral hackathon will focus on fostering innovation with a strong emphasis on women-led businesses, aiming for 50 per cemt female representation among participants”, said Chaturvedi.

With the aim of improving bilateral trade between India and the US, the forum brings together top businesses from both nations under the guidance of the Ministry of Commerce and the Department of Commerce from India and the US, respectively.

“I believe initiatives and dialogues like this will help foster a better relationship between the two nations, especially in trade and innovation, new and emerging future technologies and startups have a key role to play,” said Mahaveer Singhvi, Joint Secretary (new emerging and strategic technologies division), Ministry of External Affairs.

The event was organised by InMobi, Mastercard and Tata Sons and supported by CyberPeace Foundation, USI and USIBC.

ALSO READ:  Homegrown Boult aims Rs 1,000 crore in revenue this fiscal year: Co-founder

–IANS

na/dan

Continue Reading

Sci/tech

Build grounds for fair competition in AI-related industries: S. Korea's antitrust regulator

Published

on

By

Seoul, May 27 (IANS) South Korea’s antitrust regulator said on Monday it hosted a conference on artificial intelligence (AI) and competition policy with the Organization for Economic Cooperation and Development (OECD).

The conference, held in Seoul, invited experts to discuss the role of competition in the supply chain of generative AI platforms, according to the Fair Trade Commission (FTC).

Generative AI refers to technologies that create various types of content, including text, images and videos, by learning and analyzing data, reports Yonhap news agency.

“We need to build grounds for fair competition in AI-related industries, so that they maintain innovative growth while preventing unfair practices,” Han Ki-jeong, the chairperson of the FTC, said.

Frederic Jenny, chairman of the OECD’s competition committee, also noted that there needs to be balanced regulation to ensure fair competition in the market while promoting innovation.

The regulator noted the government will aim to roll out antitrust policies to address the rapidly changing trends in the generative AI sector.

ALSO READ:  Homegrown Boult aims Rs 1,000 crore in revenue this fiscal year: Co-founder

–IANS

na/

Continue Reading

Sci/tech

Fintech leaders hail PM Modi on India leading in UPI

Published

on

By

New Delhi, May 27 (IANS) Fintech leaders on Monday hailed Prime Minister Narendra Modi on India leading in unified payments interface (UPI), saying that the country’s fintech landscape is now a hotbed for innovation, reflecting the nation’s fearless spirit.

Reacting to PM Modi’s exclusive interaction with IANS, Razorpay COO Rahul Kothari, said, “Today, UPI has become the common and preferred mode of payment for customers”.

“The state of the new normal not only showcases the promising trajectory for India’s digital economy but also talks about the immense trust our citizens have put in digital payments,” Kothari added.

The Prime Minister said that driven by digital public infrastructure (DPI) models like UPI, the country is now leading the global fintech ecosystem and several countries are ready to embrace the ‘India Stack’ solutions to empower the masses.

The UPI platform processed 13,115 crore transactions in FY24, aggregating to nearly Rs 200 lakh crore in value, compared with 8,376 crore transactions worth Rs 139 lakh crore in FY23.

ALSO READ:  Indian tech companies begin to create global impact: SAP's Manish Prasad

Lokanath Panda, COO of BLS eServices told IANS that even in the remotest villages, small traders are investing in digital payments for their convenience and efficiency.

“The use of technology is enhancing transparency and fostering inclusivity. India’s UPI now performing a new responsibility that is uniting global partners with India,” he said.

India is home to more than 10,000 fintech companies working in diverse sectors and segments.

As per reports, the third largest globally, India’s fintech ecosystem is poised to reach nearly $70 billion in annual revenue by FY30.

–IANS

shs/pgh

Continue Reading

Trending