🖥️ Tech Futures #9

Happy Monday 👋

This week, Intel deepened its collaboration with Amazon Web Services (AWS) by agreeing to provide custom chips manufactured using its cutting-edge 18A process technology. Cisco's decision to go through its second round of layoffs in a single year highlights potential industry challenges and a shift in strategic focus. Chip Startup Groq Backs Saudi AI Ambitions with Aramco Deal A major collaboration aiming to build one of the world's largest AI inferencing centers, while Blackstone and ESR Race to Develop AI Data Centers in Japan Focus on AI data centers to address labor shortages and enhance AI capabilities. Salesforce's decision to double its AI fund to $1B indicates a significant commitment to AI development and innovation.

🖥️ Semiconductor Expansions

🔧 Intel expanded its partnership with Amazon Web Services (AWS) by committing to supply custom chips using its 18A process technology. This agreement aims to boost AWS's cloud performance and efficiency through tailored, high-performance computing solutions for its data centers.

📈 Chinese chip stocks surged following reports of a breakthrough in semiconductor equipment technology. This advance is believed to improve China’s ability to produce advanced chips domestically, potentially reducing its reliance on foreign technology and enhancing the competitiveness of its semiconductor industry.

🚀 ByteDance, the company behind TikTok, is accelerating its efforts to produce its own AI chips, aiming to mass produce two advanced semiconductors by 2026 in collaboration with a leading chipmaker. This move is designed to enhance their AI capabilities and support the growth of their various technology initiatives.

✂️ Tech Layoffs

🔍 Samsung plans significant workforce reductions outside South Korea, potentially cutting up to 30% of employees in certain divisions by the end of the year. Job cuts will impact sales, marketing, and administrative staff in the Americas, Europe, Asia, and Africa, though manufacturing roles will largely remain unaffected.

🔄 Cisco plans its second major round of layoffs in 2024, affecting thousands of employees. This decision is part of a broader restructuring effort to streamline operations and focus on key growth areas.

🔪 Microsoft implements significant layoffs as part of a broader cost-cutting strategy. The company is targeting a reduction of approximately 10,000 employees, affecting various departments across its global operations.

🏢 Cloud Facility Investments

🌐 Amazon Web Services (AWS) invests in the state of Rio Grande do Sul by building new data centers.

🏗️ Singapore Telecommunications (Singtel) is focusing on expanding its data center and IT businesses as its core telecom operations mature.

💡 Blackstone and ESR are investing heavily in data centers in Japan to meet rising AI and computing demands, while AI startup Groq Inc. is partnering with Aramco to build the world’s largest AI inferencing center in Saudi Arabia.

💰 Tech Deals

💵 Salesforce Ventures increased its AI investment fund to $1B, doubling the amount previously allocated. The fund aims to invest in promising AI startups and technologies, reinforcing Salesforce's strategic focus on artificial intelligence.

💳 Costanoa Ventures has closed two new funds totaling $394M, focusing on AI and related advanced tech investments.

🪙 Vuzix received a $10M investment from Quanta Computer as the first tranche of a larger funding round. This investment will support Vuzix's augmented reality (AR) technology development and expand its AR market capabilities.

💲 Fal.ai, a platform focused on AI-generated audio, video, and images, raised $23M in funding.

Thank you for reading. Have a great week ahead!
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