Italy Fines Apple €98.6 Million Over App Store Dominance 
Novo Nordisk Stock Surges After FDA Approves Wegovy Pill for Weight Loss 
Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy 
Nike Stock Jumps After Apple CEO Tim Cook Buys $2.9M Worth of Shares 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Japan Approves Record ¥122.3 Trillion Budget as Takaichi Seeks Fiscal Balance 
Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions 
Asian Stock Markets Trade Flat as Holiday Liquidity Thins and BOJ Minutes Watched 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
Advanced Micro Devices, Inc. (AMD) has unveiled plans for a $400 million R&D facility in Bengaluru, India, marking its biggest research and development project globally. The venture, announced at the annual Semicon India chip conference, is expected to create 3,000 engineering jobs by year-end.
AMD said on Friday, July 28, that it will establish its design center in the technology center in Bengaluru. As per Reuters, the company's chief technology officer, Mark Papermaster, announced during the inauguration of the annual Semicon India chip conference in Gandhinagar, Gujarat.
Some notable guest speakers were also at the event, including Foxconn's chairman Young Liu and Micron's chief executive officer, Sanjay Mehrotra. Other important guests who graced the conference were India's Prime Minister Narendra Modi, Minister of State Rajeev Chandrasekhar, and Ashwini Vaishnaw, the Union Minister For Electronics and Information Technology.
The company is expected to open its newest design center by the end of this year. Once in operation, AMD will create around 3,000 new engineering job roles.
AMD's R&D facility will cover a 500,000-square-foot space, increasing the brand's office footprint in India to 10 sites. It employs over 6,500 workers in the region and has been making chips there for computers and data centers.
"AMD will invest $400 million in India in the next 5 years and we will establish a new campus in Bengaluru. This will be AMD's biggest R&D facility in the world," Outlook India quoted AMD's CTO, Mark Papermaster. "Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide."
Finally, AMD's design center is India's fourth major semiconductor project. The country's PM previously secured three large investment deals during his state visit to the United States in June.
Photo by: Timothy Dykes/Unsplash
