China Creates $47.5 Billion Chip Fund to Fuel Self-Resilience
China has taken a significant step towards bolstering its semiconductor industry by establishing the largest-ever investment fund dedicated to the development of domestic chip technology. The creation of the third phase of the National Integrated Circuit Industry Investment Fund signals Beijing's commitment to achieving self-sufficiency in the face of...
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South Korea Sets Aside Record $19 Billion to Fuel Chipmaking
In a strategic move to strengthen its chip sector, South Korea has announced a comprehensive $19 billion package of incentives aimed at supporting key players such as Samsung Electronics Co. and SK Hynix Inc. The unveiling of this significant financial support marks a pivotal moment in the ongoing competition...
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Snapchat’s Spiegel Shifts Focus to AI After Reviving Ad Business
Snap Inc. CEO Evan Spiegel recently announced a strategic shift towards investing more heavily in artificial intelligence (AI) and machine learning for Snapchat. This move comes as the company aims to enhance user engagement and overall platform experience, following successful efforts to revitalize its advertising business in recent years....
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Ingram Micro Ready to Move on Plan for $1 Billion-Plus IPO
Ingram Micro Inc., a technology company backed by Platinum Equity, is gearing up for a significant milestone as it prepares for an initial public offering (IPO) that could potentially raise over $1 billion. Sources familiar with the matter have indicated that the company is actively moving forward with its...
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Crypto Investment Firm BlockTower Capital Suffers Losses in Hack
BlockTower Capital, a prominent crypto investment firm known for managing $1.7 billion in assets, has recently become the target of a sophisticated cyber attack that has resulted in significant losses for the company. Sources close to the matter, who requested anonymity due to the sensitivity of the information, revealed...
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