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Governments are deploying 'wartime-like' efforts to win the global semiconductor race
Integrated circuits on a circuit board.filonmar | E+ | Getty ImagesTiny pieces of silicon with intricate circuits on them are the lifeblood of today’s economy.These clever semiconductors make our internet-connected world go round. In addition to iPhones and PlayStations, they underpin key national infrastructure and sophisticated weaponry.But recently there haven’t been enough of them to meet demand.The reasons for the ongoing global chip shortage, which is set to last into 2022 and possibly 2023, are complex and multifaceted. However, nations are planning to pump billions of dollars into semiconductors over the coming years as part of an effort to sure up supply chains and become more self-reliant, with money going toward new chip plants, as well as research and development.South Korea became the latest country to announce a colossal investment in the industry last week. The nation’s government said Thursday that 510 trillion South Korean won ($452 billion) will be invested in chips by 2030, with the bulk of that coming from private companies in the country.Abishur Prakash, a geopolitical specialist at the Center for Innovating the Future, a Toronto-based consulting firm, told CNBC by email that it’s a “a wartime-like effort by South Korea to build future security and
Elon Musk suggests Tesla may have dumped bitcoin holdings
In this articleTSLAElon Musk, founder of SpaceX and chief executive officer of Tesla, waves while arriving to a discussion at the Satellite 2020 Conference in Washington, D.C., on Monday, March 9, 2020.Andrew Harrer | Bloomberg | Getty ImagesTesla CEO Elon Musk implied in a Twitter exchange Sunday afternoon that the electric vehicle maker sold or may sell the rest of its bitcoin holdings, sending the price of the cryptocurrency down.Bitcoin dipped nearly 8% to around $44,000 per coin.A Twitter user who goes by @CryptoWhale said, “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their holdings. With the amount of hate @elonmusk is getting, I wouldn’t blame him…”Musk replied, “Indeed.”A potential sale comes just days after Musk said the company planned to hold rather than sell the bitcoin it already has and intended to use it for transactions as soon as mining transitions to more sustainable energy.Musk has been a big supporter of cryptocurrencies, helping rally the prices of digital coins, including bitcoin, several times in the past year. In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin. The company later said it registered a
AT&T in advanced talks to merge WarnerMedia with Discovery, deal expected as soon as tomorrow
Combined images of AT&T CEO John Stankey (L)and john stankey WarnerMedia CEO Jason Kilar.ReutersAT&T is in advanced talks to merge WarnerMedia with Discovery in a deal that will strengthen the combined company against rival media giants Netflix and Disney, according to people familiar with the matter.A deal could be announced as soon as tomorrow, said the people, who asked not to be named because the discussions are private. Talks aren’t final and could still fall apart, said the people.AT&T and Discovery declined CNBC’s request for comment. The likely structure of the deal will combine Discovery with all of WarnerMedia, which will become a new publicly traded company co-owned by AT&T and Discovery shareholders, the people said. The exact split between the two companies couldn’t be determined. Discovery has a $16 billion market capitalization and a $30 billion enterprise value. AT&T acquired Time Warner, since renamed to WarnerMedia, for $85 billion in equity value in 2018.Bloomberg News first reported talks between AT&T and Discovery for their content assets.
How this 28-year-old is giving unbanked families in Mexico access to solar hot water heaters, washing machines, refrigerators
Yusef Jacobs, CEO and founder of GravitiPhoto courtesy Yusef JacobsYusef Jacobs is changing microfinance and giving people access to life-changing appliances with a simple notion: Even those who don’t have a lot of money will pay for what they really need.Jacobs, 28, launched Graviti, a “buy now, pay later platform” for basic home appliances for the unbanked sector of the population in Mexico.Graviti gives low-income people the ability to buy solar hot water heaters, refrigerators, and washing machines even if they don’t have the money to pay for such an appliance in a lump sum or the ability to get access to credit.”What we measure is whether this customer truly truly needs a certain product. And if they truly, truly need it, they’re going to pay for it well,” Jacobs tells CNBC.Graviti puts internet-connected meters on the appliances to collect data about how the customer is using them — and turn them off remotely if a customer falls behind on their payment.”What traditional microfinance institutions do is if a customer gets behind on their payments, they charge late payments,” Jacobs said. “In Mexico, they go over 100 annual percent interest rates … which is crazy. And that just over-indebts the
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