- A + A NEW YORK (Oct 4): Micron Technology Inc said it plans to invest as much as US$100 billion over the next 20 years to build a factory in upstate New York to boost US production of memory chips. The announcement on Tuesday represents the largest private investment in New York state history, according to a statement from Boise, Idaho-based Micron. The company said the first phase investment of US$20 billion, in Clay, New York, is planned by the end of this decade. The New York site, which will generate about 50,000 jobs in the state, including about 9,000 high-paying Micron positions, adds to the company’s previously announced manufacturing facility in Boise. The company said it expects to get US$5.5 billion in incentives from the state of New York over the course of the project. The so-called megafab chip factory complex is part of Micron’s strategy to “gradually increase American-made leading-edge DRAM production to 40% of the company’s global output over the … [Read more...] about Micron plans investment of up to US$100b in New York chip factory
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Share to Twitter Share to Linkedin Our theme of Mid-Cap SaaS stocks has fallen by about 42% year-to-date, underperforming the broader Nasdaq-100, which remains down by roughly 33% over the same period. The initial leg of the sell-off in software stocks was driven by investors adjusting their allocations and valuations of stocks to account for the Federal Reserve’s monetary tightening - the benchmark federal funds rate now stands at over 3%, from just about 0.25% at the beginning of this year. We’ve now reached a point where earnings growth for major software players is beginning to look a bit vulnerable, considering rising inflation, a softening economy, and the easing of the Covid-19 era demand tailwinds for technology products. This is putting further pressure on stock prices within the sector. So what’s the outlook like for the theme? Now, the macro environment remains tough with U.S. GDP contracting over the last two consecutive quarters and the Fed … [Read more...] about Are Mid-Cap Software Stocks Good Value Post The Tech Rout?
- A + A BENGALURU (Oct 4): The Nasdaq led Wall Street higher on Tuesday as megacap growth and technology stocks gaining and US Treasury yields declined amid growing investor speculation that the Federal Reserve would temper its aggressive rate hike path. New orders for US-manufactured goods remained unchanged in August as expected, while US job openings, a measure of labour demand fell by the most in nearly 2-1/2 years in August. Following the economic data, yields on government bonds dipped for a second day on hopes of moderation in monetary policy even though San Francisco Federal Reserve Bank President Mary Daly said the central bank needs to deliver further interest rate hikes. "Job openings data coming in lower than expected points to a weakening labour market. If confirmed by the non-farm payrolls report on Friday it could give the Fed the cover to slow down its tightening," said Thomas Hayes, chairman and managing member of New York-based Great Hill Capital. … [Read more...] about Growth stocks lift Nasdaq 3% as Treasury yields ease
Share to Twitter Share to Linkedin The Supreme Court will take up a case that will determine tech companies’ degree of legal liability for content that creators publish on platforms. Prepare to shell out the most you have in half a decade for holiday travel this year. Plus, we bring you a Forbes exclusive on how Alphabet’s Sundar Pichai and Accenture’s Julie Sweet are leading the charge to help settle 125,000 displaced refugees in the U.S. over the next year. Sign up here to get the Forbes Daily Dozen morning newsletter straight to your inbox. In The News Today The stock market rallied on Monday as fourth quarter trading kicked off, with investors hopeful the final stretch of the year will help correct an otherwise dreadful year for the market—a theory backed by historical data. The Dow posted its second-best day of 2022 with a 2.7% jump, while the S&P 500 gained 2.6% and the Nasdaq rose 2.3%. Investigators hired by … [Read more...] about Daily Dozen | Forbes: ‘Lehman Brothers Moment’; U.S. Stocks Jump; Mark Cuban’s Playbook
Share to Twitter Share to Linkedin Lenovo introduced an expanded product and solutions portfolio as it celebrated the 30 th anniversary of the ThinkSystem (and ThinkPad) products. This introduction was perhaps the most extensive new portfolio reveal I've witnessed in my years as an industry analyst and covers everything from servers to storage to software. Oh, and add a little security, edge, and TruScale to complete the picture. I will try and unpack all the announcement details in the following paragraphs. Before the details – a little context Since taking over the helm of Lenovo’s Data Center Group in 2016, Kirk Skaugen has rebuilt his organization to be a competitor in a very competitive server market. And while analysts like me were clamoring for him and his team to be more aggressive in go-to-market strategies, his plan of building a solid foundation of people and products and competing where Lenovo could win has paid off. A few years later, … [Read more...] about Lenovo Doubles Down On The Datacenter As ThinkSystem Turns 30
Share to Twitter Share to Linkedin On October 12th, I'll be attending Evolve 2022 in NYC. Truly the data event to end all data events, the intimate one-day event is hosted by industry luminaries Cloudera, IBM and Intel. While I should disclose that I will be one of the featured speakers at the event, believe me when I say that I would be there regardless. The event will be a who's who of data leaders and enthusiasts focused on digital, analytics, innovation and digital transformation, spanning industries including but not limited to financial services, insurance, retail, communications and manufacturing. Come to Evolve 2022 for curated sessions, thought-provoking keynotes, peer-to-peer discussions and plenty of personal networking. Leave with new knowledge, professional connections and, hopefully, inspiration to implement a transformative data strategy at your own business. I recently hosted Hannah Smalltree, Senior Director at Cloudera, on my Insider Podcast. I … [Read more...] about Evolve 2022: A Data Fanatic’s Dream Come True
Share to Twitter Share to Linkedin SoftBank invests in the new company Today, Izuma Networks announced the acquisition of SoftBank’s Pelion edge software business, including the IoT device management products. Izuma inherits the extensive software and intellectual property portfolio that Arm’s IoT Services Group (ISG) developed from 2013 to 2020. Izuma also announced an investment by SoftBank Group that enables the new company to hit the ground running. In 2020, Arm spun off Pelion as an independent SoftBank business unit. At that time, Pelion had three product lines – connectivity, device management, and edge processing. As an independent business unit, Pelion narrowed its strategy to focus on cellular device connectivity using SIMs and eSIMs, leveraging software and services acquired from Stream Technologies in 2018. While concentrating on connectivity, Pelion put the device management and edge software portfolio in maintenance mode, supporting … [Read more...] about Izuma Networks Acquires SoftBank’s Pelion IoT Device Management Business
Share to Twitter Share to Linkedin Key takeaways While cryptocurrency remains questionable, blockchain applications and Web3 have plenty of business potential. The incubator CEO is excited about development in Africa, notably Kenya and Nigeria. AgriTech and FinTech are on the cusp of major leaps and improvements and remain a focal area for private investments. Sitting at the top of any business gives you a unique view of the economy and emerging business trends. This is even more true for Maëlle Gavet, Chief Executive Officer of TechStars. As the leader of a global business accelerator with more than 1,000 portfolio companies and nearly 400 successful exits, Gavet has her finger on the pulse of the next big things happening in technology across a wide swath of sectors and business models. A member of the Q.ai team was lucky to sit down with Gavet at the recent Collision conference in Toronto. Here are key insights she shared regarding the … [Read more...] about TechStars CEO On The Future Of FinTech
Tracxn Technologies, which offers customers with private company data, is headed to Dalal Street soon. It has set price band at Rs 75-80 a share for its initial public offering (IPO) which will open for subscription on October 10 and close on October 12. The stock will list on October 20. The Software as a Service (SaaS)-based platform scans over 662 million web domains and profiles over 1.84 million entities. One can find relevant data for deal sourcing, identifying M&A targets, deal diligence, analysis and following emerging themes. Tracking the journey of Tracxn, chairman and managing director Neha Singh told reporters in a webinar: “Before co-founding the company, I worked with Boston Consulting Group and Sequoia. During my stints there, I realised that private markets were becoming larger and important to track. I wished a platform like this existed when I was an investor.” Tracxn is among the top five firms globally in terms of number of companies profiled. It … [Read more...] about India-cost arbitrage or limited competitors: What makes Tracxn different?
Share to Twitter Share to Linkedin In a landmark announcement, Focal has revealed its first-ever pair of Bluetooth ANC headphones. The Focal Bathys is the company’s first pair of wireless headphones featuring ANC (active noise cancellation). Focal says the new Bathys headphones deliver a pure hi-fi sound over Bluetooth 5.1 with multipoint support. There is also a choice of two wired connections using either a 3.5mm jack plug or a USB-C DAC connection. The new headphones have drivers made by Focal in France, plus there’s high-performance ANC technology and battery life of more than 30 from a single charge. The new headphones are made with high-grade materials and Focal says the sound is “detailed, precise and dynamic.” The ANC function includes two noise-canceling modes: Silent Mode is for when the listener wants total escape and is ideal for use when there’s a high background noise, such as on a plane or train. In addition, a Soft Mode helps the user focus … [Read more...] about Focal Reveals Its First-Ever Hi-Fi Bluetooth ANC Headphones