Business, Financial & Legal News - Page 1
Warren Buffet is worth $103 billion, Mark Zuckerberg is worth $121 billion, Bill Gates is worth $130 billion, Jeff Bezos is worth $197 billion... but Elon Musk beats them all with a net worth of $236 billion.
The SpaceX and Tesla founder is now worth an incredible $236,000,000,000 compared to his filthy peasant friends worth less than $200 billion. Musk has been battling Amazon and Blue Origin founder -- and recent space explorer, Jeff Bezos -- for the top spot. Between Musk, Bezos, and Bernard Arnault there's some incredible wealth... but why the sudden surge for Musk?
$60 billion has been added onto Musk's net worth this year thanks to Tesla stock increases, as well as a recent share sale at SpaceX which saw the company valued at over $100 billion. This added another $11 billion to the net worth of Musk and helped bump him over $200B+ net worth.
It might be hard to buy a new GPU right now, but for the most part the PC industry hasn't been too affected by the pandemic... but it appears the industry is slowing down a little, just a little.
According to a new IDC report, there were over 86 million PCs shipped in Q3 2021. Now in these numbers they're including desktops, notebooks, and workstation machines with that 86.7 million PCs shipped being a 3.9% increase of 2020, with it being the 6th consecutive quarter that the PC has continued to grow.
But in the US, American PC users and gamers are getting hurt by shortages with Neha Mahajan, an IDC senior research analyst explaining: "Bottlenecked supply chains and ongoing logistic challenges led the U.S. PC market into its first quarter of annual shipment decline since the beginning of the pandemic".
Intel has been struggling of late, but the right seeds are being planted right now -- ready for an improved battle in the years to come in all areas: especially semiconductor manufacturing.
Freshly-minted Intel CEO Pat Gelsinger has teased a gigantic $94 billion investment in semiconductor manufacturing in Europe, a plan that would span for up to the next 10 years. This discussion was reiterated again, this time during the IAA Mobility Auto Show in Munich, Germany.
Gelsinger says this gigantic expansion project with $94 billion behind it would be "the most advanced chip fab anywhere in the world". It will be using ASML Holdings' EUV (Extreme Ultraviolet Lithography) tools for future cutting-edge components. This step would have Intel on the same footing as TSMC (Taiwan Semiconductor Manufacturing Company) and Samsung -- both of which are making advanced chips, and Intel wants to dominate in this area again.
TSMC is expected to have a chip facility operational in the next couple of years, somewhere in the 2023-2024 period, with Sony reportedly ready to invest $7 billion into TSMC's new factory.
The new chip factory would find a new home in Japan on Sony's own property, with Sony and TSMC's joint venture into the world of chip manufacturing. The Japanese government is reportedly ready to cough up half of the $7 billion, resulting in $3.5 billion of financing that would be given towards Sony and TSMC's new factory.
The new factory won't be pumping out chips for the PlayStation 5, or a next-gen PlayStation 6, but rather would be making around 40,000 wafers per month on the older 28nm node. The big new factory would be making camera image sensors, chips for cars, and other products.
Elon Musk has announced that Tesla will be getting out of California, moving its HQ from Palo Alto, California to Austin, Texas. The news was announced during Tesla's recent shareholder meeting.
Musk didn't detail when the move would happen, but Tesla will be continuing to expand its manufacturing capacity in San Fransisco. So, while the Tesla HQ might be moving from California to Texas, the company isn't fully pulling out of California. Musk also talked about Tesla delivering record numbers of vehicles this year, all in a world where there are massive chip shortages impacting Tesla's competitors.
Musk explained: "We're taking it as far as possible, but there's a limit how big you can scale it in the Bay Area. Just to be clear, though, we will be continuing to expand our activities in California. This is not a matter of leaving California".
Computex has been a yearly ritual for many of us in this industry, and with the pandemic it was completely ruined -- like every other trade show -- but will reportedly return to in-person goodness in 2022.
Computex 2022 will take place between May 24 and May 27, 2022 with the organizers explaining: "This annual tech event will continue to lead in the discovery of the latest technology trends. Due to the pandemic, the annual physical show was cancelled for two years, but COMPUTEX 2022 is back, and it is open for international exhibitor registration starting from October 6. In addition, the global warm-up tour, #COMPUTEXisEverywhere, will begin on November 18".
As for what to expect, it should be an exciting show considering Intel will be ramping up into the launch of its Arc Alchemist graphics cards, Sapphire Rapids CPU platform, NVIDIA's next-gen Ada Lovelace GPUs, and AMD's next-gen RDNA 3 GPUs. DDR5 memory launches with Alder Lake, which is just days away now, and PCIe 5.0 devices which also launches with Alder Lake. Computex 2022 should be absolutely bonkers, if nothing tragic happens between now and then.
If you thought it was going to be easier, or cheaper to buy a CPU, GPU, or console between now and Christmas then you'd be wrong -- very wrong.
During a recent event, AMD CEO and President Dr. Lisa Su spoke with Code Conference producer Kara Swisher and CNBC tech reporter John Fortt, Su talked about the silicon and component shortages we've been experiencing over the last 18 months.
Su said that the silicon and component shortages will be with us for the rest of the year, and now into the first half of 2022 which she said there would be "tight supply". These issues would begin to get better in the second half of 2022, but there's no exact science here. Su is giving her estimates, but there are renewed concerns in China with ongoing production issues now that China is clamping down on power usage across the country.
China is cracking down on virtually everything, but with new energy use restrictions, it is affecting companies like Apple, Qualcomm, and even Tesla and their production.
Apple and Tesla suppliers are suspending production, a move forced on them because of local policies that are controlling energy consumption for industrial use. There are some companies that will keep their factories closed through to the end of the week.
China is experiencing a tight supply of coal and natural gas, forcing the prices of them both high -- on top of that, China is wanting to reduce carbon emissions so these changes are being trusted upon the country rather fast. The upcoming 2022 Winter Olympics is also forcing the country to require "Olympic blue skies" that has China fixated on environmental changes so quickly.
Apple designer Jony Ive left the company back in June 2019 to open up his own company, which his first client was Apple -- but now LoveForm has signed a new multi-year partnership with Ferrari.
In a press release, Ferrari said: "The first expression of this new partnership will bring together Ferrari's legendary performance and excellence with LoveFrom's unrivalled experience and creativity that has defined extraordinary world changing products".
LoveFrom co-founders Jony Ive and Marc Newson said in a joint statement: "As Ferrari owners and collectors, we could not be more excited about collaborating with this extraordinary company and in particular with the design team expertly led by Flavio Manzoni... We see some uniquely exciting opportunities working together which we believe will yield important and valuable work".
Elon Musk has "semi-separated" from Grimes and will continue on separate paths, where they'll co-parent their one-year-old son X Æ A-12.
Musk spoke with Page Six where he said: "We are semi-separated but still love each other, see each other frequently, and are on great terms. It's mostly that my work at SpaceX and Tesla requires me to be primarily in Texas or traveling overseas, and her work is primarily in LA. She's staying with me now, and Baby X is in the adjacent room".
The couple made their big public debut at the Met Gala back in 2018, and their son was born in May 2020 kicking up headlines as Musk and Grimes named him X Æ A-Xii. But it's okay, you pronounce it "X Ash A 12" so that'll be easier for kids in school (I'm sure he'll be trained by an AI or something anyway) to tease him.