INDIA AI AND SEMICONDUCTOR TALENT
Samsung set to become first South Korean company with $147 billion in cash assets
Samsung Electronics' cash assets are estimated to exceed 200 trillion won with strong demand for AI semiconductors. The company's cash increased significantly from the previous quarter, showcasing financial growth. Investments into chipmaking infrastructure are projected to reach over 100 trillion won this year, indicating continued growth in the sector. Samsung's net profit surged due to heightened demand for memory chips and AI-related products.
TSM stock rallies as Nvidia reportedly turns to TSMC for advanced memory chips - can it challenge Samsung, Micron and SK Hynix?
TSM stock today: TSMC stock climbed more than 6% in early trading Friday after a report said the chipmaker is considering manufacturing advanced 3D DRAM chips at Nvidia's request. The potential move could expand TSMC's role in the AI hardware market as memory shortages increase competition among leading chipmakers.
US stocks today: Nasdaq rebounds as chip stocks recover from steep losses, rate fears persist
US stocks rebound as chipmakers recover from Thursday's steep AI-led selloff, lifting the Nasdaq 1.73%. Nvidia, AMD, Intel and Micron lead the recovery, while stronger-than-expected October jobs data revive concerns over a December Fed rate hike. Airbnb rallies after raising its full-year revenue growth forecast, while Atlassian shares decline.
Paras Semiconductors, BroadPak join hands to build advanced semiconductor packaging capabilities
The collaboration will combine Paras Semiconductors' manufacturing ambitions in opto-electronics, photonics and co-packaged optics with BroadPak's technology expertise in advanced semiconductor packaging, heterogeneous integration and chiplet-based system architectures, it said.
Chip stocks bounce up to 8% as US stock futures recover after Thursday’s stock market crash - Jefferies says sell-off was ‘reactionary, not a reset’
Chip stocks bounced back before Friday's market open after Thursday's brutal sell-off sent the Philadelphia Semiconductor Index down 12.2%. Nvidia, AMD and Intel recovered, while Aehr Test Systems, Camtek and Cohu also posted strong gains. Jefferies called the sell-off "reactionary, not a fundamental reset."
US stock market today: Dow futures fall 475 points as S&P 500 and Nasdaq futures rebound, Nvidia, Micron and AMD lead chip recovery after $3 trillion AI-driven Wall Street selloff
US stock market futures are mixed today, Friday, Nov. 6, after Thursday’s nearly $3 trillion AI-led selloff, as chip shares attempt a rebound. Dow futures are down 475 points, while S&P 500 futures gain 0.26% to 7,402.50 and Nasdaq futures rise 1.33% to 27,107.75. The Nasdaq plunged 5.52% yesterday; the S&P 500 fell 4.36% and the Dow lost 3.44%.
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India focused on becoming AI application capital of the world: Ashwini Vaishnaw
India is on a mission to become the global hub for artificial intelligence applications while also enhancing its semiconductor industry. With the launch of the Semicon 2.0 Web Application Portal, only well-prepared semiconductor enterprises will have their applications considered. The government is actively working on a strategy to produce indigenous graphics processing unit chips, alongside other crucial electronic components such as battery cells and copper foils.
India focused on becoming AI application capital of the world: Ashwini Vaishnaw
India is striving to become the artificial intelligence application capital while also focusing on semiconductor manufacturing. The government plans to launch the Semicon 2.0 Web Application Portal to attract serious players in the industry. Union Electronics and Information Technology Minister Ashwini Vaishnaw highlighted the importance of complete applications for participation.
SoftBank credit risk jumps to 4-year high as AI fears roil market
The cost of insuring against a default for tech investor SoftBank Group jumped to its highest in four years on Friday as worries about AI profitability roiled the world's financial markets.
TReDS sees a festive boost; Nykaa’s growth strategy
Happy Friday! Festive inventory demand has lifted invoice financing on TReDS platforms. This and more in today’s ETtech Morning Dispatch.
AI gains fail to cool rising staff costs at Indian IT services firms
Although artificial intelligence (AI) and automation are changing the traditional labour-intensive model of IT services, they have yet to bring down employee costs for the country’s top six IT services companies—Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTM (formerly LTIMindtree).
QQQ stock today falls over 5%: Why Nvidia (NVDA), Qualcomm (QCOM), Intel (INTC) and Marvell (MRVL) are dragging down Invesco QQQ Trust
QQQ stock: Invesco QQQ Trust fell more than 5% toward $655 on Thursday as investors sold technology and semiconductor stocks following the US midterm elections. Qualcomm's disappointing chip sales and concerns over AI data center spending added to the pressure, even as QQQ increased its holdings in Nvidia, Apple and Microsoft on Tuesday.
Nasdaq tumbles over 3% as tech stocks extend selloff after Democrats sweep midterms; Tesla plunges 9%, chipmakers slide
US stocks faced a sharp decline on Thursday, particularly in technology shares, amid concerns over regulatory scrutiny. The Nasdaq Composite fell over 3%, reversing optimism following the Democrats' midterm election victories. Key companies including Nvidia, Advanced Micro Devices, and Tesla were among the hardest hit. Investors expressed worries about the implications of stronger Democratic control on the artificial intelligence industry.
Was Michael Burry right about the AI bubble? Wall Street loses $2 trillion as AI and chip stocks plunge: Why are Tesla, Palantir, AMD, Broadcom and SanDisk crashing?
Michael Burry's warning about an AI bubble is back in focus as Wall Street loses more than $2 trillion in market value. On Thursday, November 5, AMD shares plunged around 12%, SanDisk fell 14%, Micron dropped 10%, while Nvidia lost nearly 7%. Tesla and Palantir also fell 9% and 8%, respectively. The sell-off spread across chipmakers, memory companies and AI infrastructure stocks. The Dow fell 2.36%, the S&P 500 dropped 3.11%, and the Nasdaq sank 4.20%, as investors questioned whether massive AI investments can deliver enough returns.
MU stock crashes 11% today as Nasdaq plunges nearly 4%: Why is Micron stock falling with Nvidia, Intel and Tesla as Wall Street’s tech selloff deepens?
MU stock price today: Micron stock is falling as Wall Street faces a sharp selloff in technology shares. The Nasdaq dropped 3.72% on Thursday, while the Dow and S&P 500 also lost more than 2%. Nvidia and Tesla shares fell sharply, adding to the pressure on chip stocks. Micron faces another problem; a reported halt to its $4.5 billion Taiwan plant has raised fresh questions about its future AI memory production.
GCCs ramp up hiring for AI, data, cybersecurity professionals; face talent shortage: Report
India's GCCs are directing a greater share of technology recruitment towards specialists who can deploy AI, manage data and secure enterprise systems, according to the India GCC Tech Talent Landscape - Q2 FY27 Report by staffing and workforce solutions provider Quess Corp.
AI, data, cybersecurity lead tech hiring with 30.3% share in September quarter
In India, the demand for roles in AI, data, and cybersecurity within Global Capability Centers (GCCs) has surged, even amid a slight overall hiring decline. AI and data professional roles saw a 14% increase quarter-on-quarter, while cybersecurity positions grew by 12%. Notably, tier-2 cities like Coimbatore achieved a remarkable 30% growth. By 2030, the GCC workforce in India is projected to reach between 2.7 and 2.8 million.
AI selloff drags Nikkei lower despite broad-based market gains
Japan's Nikkei 225 fell 0.5% on Thursday as losses in AI and semiconductor stocks offset gains across the broader market. Concerns over a potential slowdown in data centre investments weighed on chipmakers, even as falling crude oil prices lifted the Topix 1.3%, with real estate, retail and pharmaceutical stocks leading gains.
AI boom draws chip supply from other end-markets, Siltronic CEO says
Siltronic, which makes silicon wafers used in semiconductors, raised its annual sales forecast for the second time this year on Wednesday, citing stronger demand for its wafers.
Four UK universities in India offer early recruitment access to 250 postgraduate students graduating in 2027
Four UK universities operating campuses in India are scheduling a placement week for postgraduate student recruitment. This initiative allows employers to interview candidates before graduation and streamline hiring processes. Students participating have an average of 2.4 to three years of work experience across multiple industries.
AMD forecasts quarterly revenue above estimates as data-center growth accelerates
The company, which nearly doubled its data-center revenue in the third quarter, is benefiting as a shift in AI workloads toward running models in real-world applications drives demand for its graphics processing units and central processors. This has enabled AMD to capture market share from rival Intel, which last week forecast quarterly revenue well below estimates and triggered a global selloff in chip stocks.
India’s IT sector needs a new talent architecture
Growing demand for AI-related services is challenging providers, as they struggle to generate significant revenue. Companies must redesign their workforce models to capture opportunities in an AI-driven market. Existing talent architectures focus on old skill sets and hierarchies, which are becoming less relevant. Investing in specialized roles and capabilities will better align with the new market demands.
AMD forecasts fourth-quarter revenue above estimates on strong AI chip demand
Advanced Micro Devices estimates its fourth-quarter revenue will hit about $17 billion, driven primarily by robust demand for AI chips. Although the company's forecast for adjusted gross margin stands at 55%, it falls slightly short of analyst expectations. A remarkable 97% year-on-year increase in data-centre revenue showcases AMD's growth. However, the company currently faces challenges in sourcing high-bandwidth memory, essential for its AI processors.
India gains as global investors move away from AI-linked stocks: Goldman Sachs
Indian equities outperformed the Asia-Pacific region in the MXAPJ index by 7 percentage points last month, making the country one of the best-performing global markets during the period. Goldman Sachs said the recovery was due to a rotation in global portfolios away from north Asian markets, which have greater exposure to AI -linked stocks.
Vultr eyes 1 GW India capacity by 2029
Further, the company said it has hired more than 100 people in India over the past three months and plans thousands of additional hires in network engineering and operations by March. It also added that the Chennai workforce could eventually reach 5,000 as the facility becomes operational and services expand.
IIT Guwahati, Tata Electronics join hands to build semiconductor talent pipeline
IIT Guwahati has signed an MoU with Tata Electronics to establish a Centre of Excellence for semiconductor education. This collaboration aims to develop educational programmes that align with industry needs and create skilled professionals. Additionally, the partnership will provide hands-on training opportunities for students at Tata Electronics. It includes developing relevant course content and training faculty from various institutions.
byteXL strengthens leadership team to fuel AI and skilling push
byteXL has appointed four senior executives across operations, business, strategy and finance as it prepares to scale its institutional network from 40 to 120 colleges and reach 500,000 students over the next two years. The company is also expanding programmes in AI, GCCs, electric vehicles, semiconductors and precision engineering as it shifts towards a deeper technology focus.
HCLTech, Japan's Rapidus announce partnership for next generation semiconductor technologies
Indian IT services company HCLTech and Japan's Rapidus Corporation have announced a partnership for next-generation semiconductor technologies, with two dedicated development centres inaugurated in Bengaluru and Hubli to support the Japanese chipmaker's semiconductor engineering requirements.
Talent, compute and R&D key to India's AI ambitions: Report
India will need to strengthen its talent pool, research and development (R&D) capabilities, computing infrastructure and data systems to translate advances in artificial intelligence (AI) and other emerging technologies into economic and social benefits, according to a report by KPMG.
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