Intel has announced that it will not be going ahead with the $5.4 billion acquisition of Tower Semiconductor, a contract manufacturer based out of Israel. The company says delays in obtaining necessary regulatory approvals, particularly in China, as the reason for the decision. “Intel Corporation today announced that it has mutually agreed with Tower Semiconductor to terminate its previously disclosed agreement to acquire Tower due to the inability to obtain in a timely manner the regulatory approvals required under the merger agreement,” said Intel in a press statement. In February of last year, Intel announced its plan to acquire the Israeli chip manufacturer for $5.4 billion. Intel had hoped the acquisition would help expand its foundry business and better position it against competitors like TSMC from Taiwan. Pat Gelsinger, the CEO of Intel, notes that the company is going forward with its foundry efforts, which he says is crucial to fully realising IDM 2.0’s potential. “We are executing well on our roadmap to regain transistor performance and power performance leadership by 2025, building momentum with customers and the broader ecosystem and investing to deliver the geographically diverse and resilient manufacturing footprint the world needs. Our respect for Tower has only grown through this process, and we will continue to look for opportunities to work together in the future,” said Gelsinger.In 2021, Intel established its foundry services as a separate business unit, investing $20 billion in constructing two Arizona factories. Additionally, the company unveiled its blueprint for constructing a colossal semiconductor facility in Ohio, which is intended to become the “biggest silicon manufacturing site globally.”Under the merger agreement’s terms, Tower will receive a termination fee of $353 million from Intel. Gelsinger said, “Our respect for Tower has only grown through this process, and we will continue to look for opportunities to work together in the future.”

Gideon Lichfield: If I were a cynic, which of course I’m not at all … Mustafa Suleyman: [Chuckle] Not at all. Lauren Goode: Not Gideon. Gideon Lichfield: I might say that you and the AI companies are setting up a pretty sweet deal for yourselves, because you’re getting to say to government, “Look, you, government, can’t possibly understand this stuff well enough to regulate it, so we’re going to voluntarily set some guardrails, we’re gonna drive the agenda, we’re gonna decide how precautionary the precautionary principle needs to be.” And so I think the question I’m asking is, what is the incentive of the private sector which leads the conversation because it has the know-how to set standards that are actually good for society? Mustafa Suleyman: If we could get formal regulation passed, I think that would be a good start. But you’re right, good regulation, I think, is a function of very diverse groups of people speaking up and expressing their concerns and participating in the political process. And at the moment we are sort of overwhelmed by apathy and anger and polarization. And yet now is the critical moment, I think, where there’s plenty of time, we have many years to try to get this right. I think we have a good decade where we can have the popular conversation, and that’s partly what I’m trying to do with the book and partly what others are trying to do with the voluntary commitments too. Gideon Lichfield: What are some of the scenarios that you predict that most people probably can’t even imagine that might happen if we don’t manage to keep these technologies under control? Mustafa Suleyman: Well, I think in sort of 15 or 20 years’ time, you could imagine very powerful non-state actors. So think drugs cartels, militias, organized criminals, just an organization with the intent and motivation to cause serious harm. And so if the barrier to entry to initiating and carrying out conflict, if that barrier to entry is going down rapidly, then the state has a challenging question, which is, How does it continue to protect the integrity of its own borders and the functioning of its own states? If smaller and smaller groups of people can wield state-like power, that is essentially the risk of the coming wave. Lauren Goode: I’m so intrigued by what you’re doing with Inflection, because when I think about your background, you’ve worked in politics, you’ve worked in social good, you, of course, ended up cofounding DeepMind and then worked at Google. But you also, you wrote a book and you seem to have these diplomatic intentions, you believe in collaboration. Why are you a startup founder? Mustafa Suleyman: I’m happiest when I’m making things. Really what I love doing is deeply understanding how something works, and I like doing that at the micro level. I love going from micro to macro, but I can’t stay just at macro. I am obsessed with doing on a daily basis, and I guess that’s the entrepreneurial part of me. I love “What are we gonna ship tomorrow? What are we gonna make? What are we gonna build?” If I had to choose between the two, that’s what makes me happiest, and that’s what I like to do most of the time.

As per a BHIVE spokesperson, Gupta was only handling the AIF following a restructuring in the company, but as per Gupta’s LinkedIn profile, he was a cofounder and CBO, fintech, at BHIVE BHIVE also announced its decision to wind up the AIF managed by Gupta and launch a new coworking-focussed category II AIF of INR 400 Cr The new fund will acquire fully completed commercial real estate properties at prime locations with clear titles and occupancy certificates, BHIVE said Bengaluru-based coworking giant BHIVE said that the fund manager of its alternative investment fund (AIF), Sandeep Gupta, has resigned from his role in the company to pursue opportunities elsewhere. While a BHIVE spokesperson informed Inc42 that Gupta was only handling the AIF after a restructuring in the company more than a year ago, as per Gupta’s LinkedIn profile, he was a cofounder and chief business officer, fintech, at BHIVE. Bhive Alts is the fintech arm of the BHIVE Group. BHIVE said Gupta’s departure would not lead to any disruption to its investment trajectory or have any impact on its current portfolio, as the current AIF had not yet been operationalised. “Change is inherent in the investment landscape. Our team, fortified by expertise and dedication, is committed to delivering optimum results and upholding our investors’ trust in us,” said Sheshagiri Rao Paplikar, founder and CEO of the BHIVE Group.  BHIVE also announced its decision to wind up the AIF managed by Gupta and launch a new coworking-focussed category II alternative investment fund (AIF) of INR 400 Cr. The new fund will acquire fully completed commercial real estate properties at prime locations with clear titles and occupancy certificates, said BHIVE.  The fund will also offer opportunities to high-net-worth Individuals (HNIs) and family-owned businesses looking to invest in commercial real estate. As per the company’s earlier plans, the fund would have a low entry ticket size of INR 1 Cr. In May last year, BHIVE Group announced its plans to raise an INR 400 Cr AIF registered with the Securities and Exchange Board of India (SEBI). In September 2022, it said it had received commitments of INR 240 Cr for the fund from some global family offices and marquee business houses in India. “There has been exponential growth in the number of AIFs in India. Unlike a decade ago, when offshore investors were funding India’s AIFs, the expanding pool of domestic investors is helping them grow today. We see a tremendous opportunity in this segment and will go aggressive with our plans as we embark on the next growth phase of the organisation,” said Paplikar. Founded in November 2014, BHIVE Group runs BHIVE Workspace and Bhive Alts. BHIVE Workspace is among the largest co-working space providers in Bengaluru and claims to have 172 startups and companies operating from its 25 locations.  Currently, BHIVE operates in Bengaluru and plans to be in six major cities in India by June 2024.  As per the company’s website, Bhive Alts has over 160 Cr of assets under management (AUM), with more than 45,000 investors on the platform. The business is aimed at providing retail investors access to alternative investments.

Elon Musk rebranded Twitter to ‘X’ and following that TweetDeck, a tool that lets users manage the microblogging platform better, also got rebranded to ‘X Pro’. Now, as per the announcement made on July 3, the X Pro has finally started asking for Blue subscription for the access. TweetDeck, now X Pro is no longer freeDuring the announcement, it was said that it will take around 30 days for the implementation to happen. Although it took X more than a month to implement this, it is finally here. And, visiting X Pro website (or Tweetdeck.com) as a free user shows a popup asking users to subscribe to the Blue subscription. The change has started surfacing today and users from across the globe, including us at Times of India are seeing this change. Blue subscription comes with more benefits than beforeEver since Elon Musk took over Twitter, he has made certain changes to the Blue subscription model to offer better and more benefits. This change is a part of it and the popup also mentions the benefits users will get on going premium. This includes features like longer posts, full HD videos, better ranking in conversations and search and more. Here are a quick side note that the Blue subscription offers: Prioritised rankings in conversations and search See approximately twice as many posts between ads in your For You and Following timelines. Add bold and italic text in your posts Post longer videos and 1080p video uploads All the existing Blue features, including Edit Tweet, Bookmark Folders and early access to new features Longer posts: Create posts, replies and Quotes up to 25,000 characters long. Edit post: Edit a post up to 5 times within 30 minutes. NFT Profile Pictures: Show your personal flair and set your profile picture to an NFT you own. Along with this the popup window also mentions the yearly and monthly subscription pricing for Blue subscription.X Pro Blue subscription: PriceThe X Pro Blue subscription costs Rs 650 per month and the yearly price is Rs 7,800. However, X Pro is offering 12% discount on yearly subscription and it can be purchased at Rs 6,800 right now.

CHENNAI: Apple Inc’s next-generation iPhone 15 is beginning production in Tamil Nadu, in an effort to further narrow the gap between its India operations and main manufacturing base in China. A Foxconn Technology Group plant in Sriperumbudur is preparing to deliver the newest devices only weeks after they start shipping from factories in China, as the company seeks to swiftly increase the volume of new iPhones coming from India, people familiar with the matter said.The Cupertino, California-based firm is on a multiyear project to diversify its manufacturing away from China, de-risking the supply chain for its most important products as tensions between Washington and Beijing make trade less predictable. India, under Prime Minister Narendra Modi, has sought to build closer ties to the US and make itself a manufacturing hub. Before the iPhone 14, Apple had only a sliver of its iPhone assembly in India, which lagged China output by six to nine months. That delay was drastically reduced last year, and Apple produced 7% of its iPhones in India at the end of March. The goal this year is to move closer to parity on shipment timing from India and China, though suppliers are not yet certain they will achieve it, the people said, asking not to be named as the information is not public.The scale of India production for the iPhone 15 will depend on the ready availability of components, which are largely imported, and the smooth ramp-up of production lines at the Foxconn factory outside Chennai. The new iPhone, likely to be announced on September 12, promises to be the biggest update to the device in three years. It will include major upgrades to the camera system across the range, and the Pro models will gain an improved 3-nanometer A16 processor. The new family of handsets is critical to reviving flagging sales. Apple this month reported its third straight quarter of declining sales, weighed down by tepid consumer demand in key markets like the US, China and Europe.Other Apple suppliers in India — Pegatron Corp and a Wistron Corp factory that is being acquired by the Tata Group — will also soon assemble the iPhone 15, the people said.An Apple spokeswoman and representatives of Wistron and Pegatron declined to comment. Foxconn did not respond to a request for comment.Apple has steadily expanded in India through its Taiwanese suppliers, benefiting from some of the Modi administration’s financial incentives to bring in more high-end manufacturing. That’s helped Apple triple iPhone production to more than $7 billion in India in the fiscal year that ended in March, Bloomberg News reported previously.Apple, which opened its first retail stores in the country in April, now views the fast-growing India market as both a retail opportunity and an important production base for its gadgets in the longer term. In the quarter through June, iPhone sales in India grew double-digits to a new high, though Apple hasn’t disclosed precise numbers.Apple is “committed to growing and investing across the country,” Chief Executive Officer Tim Cook said after meeting Modi on his India trip in April.

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Former Ather Energy executives Arun Vinayak and Sanjay Byalal founded Exponent Energy in 2020 to enable OEMs across segments to go electric with unmatched agility Exponent Energy’s tech stack not only reduces charging time but also enhances the life of EV batteries, thereby making them cost-effective in the long run Overall, Exponent Energy’s secret sauce of efficient 15-minute rapid charging is engrained in its tech stack that comprises ‘e^packs’, ‘e^pumps’, and ‘e^plugs’ At a time when commercially viable battery charging technologies worldwide take a minimum of 30 minutes to a maximum of 10 hours to fully charge electric vehicles (EVs), depending on battery capacity and vehicle types, Bengaluru-based Exponent Energy claims to have broken all records with its 15-minute EV charging tech, with the vehicle category no bar. The startup has made 15-minute rapid charging an on-road reality with its patented ‘water-based’ off-board thermal management system. But before we delve deeper into the technology and Exponent Energy’s journey in building its tech stack, it is pertinent to understand why such a technology is groundbreaking.  In an attempt to make the usage of EVs more seamless, various players across the globe are working on curbing the EV charging time down to as low as 10 minutes. However, so far, only a handful of players, including Tesla, California-based Enevate, and European tech giant ABB, have been successful in achieving this and that too for certain use cases, while many such technologies are still being championed in ultra hi-tech labs. Amid this, India’s Exponent Energy’s tech innovation is applicable across use cases. The tech not only reduces charging time but also enhances the life of EV batteries, thereby making them cost-effective in the long run. Spilling The 15-Minute Rapid Charging Beans Former Ather Energy executives Arun Vinayak and Sanjay Byalal founded Exponent Energy in 2020, with the sole motive of building a tech enablement platform that can help original equipment manufacturers (OEMs) across segments to go electric with unmatched agility. According to CEO and cofounder Vinayak, the only hurdle in the path of EV adoption in India is the efficiency of these vehicles, which can be improved multifold. “Our problem statement in focus was battery life, battery charging times, the charging network… this is where the energy stack was really broken, and we needed to make energy much faster, simpler, accessible, and affordable,” Vinayak said. When it comes to rapid charging, the biggest hurdle is overheating of batteries and battery life degradation. A 15-minute rapid charging generates almost 256X more heat than a 4-hour charging, which is the industry average.  Notably, lithium-ion (Li-ion) batteries are highly sensitive to extreme temperature conditions. Hence, battery thermal management systems are crucial for these battery packs as they help them function seamlessly even in extreme temperatures. In most cases, various cooling systems such as air cooling, liquid cooling, and phase change material cooling are used worldwide to keep these batteries at their optimal temperature.  However, according to Vinayak, liquid cooling systems, which are the most common solution for thermal management in EVs today, hardly solve this problem, particularly in countries like India where the ambient temperature is normally 40 degrees Celsius or higher. To resolve this, Exponent has built an advanced heating, ventilation, and air conditioning (HVAC) system, which is ‘off-boarded’ from the vehicle and is deployed at its charging stations, ‘e^pump’.  EV players like Tesla, Lucid, and Hyundai also have advanced HVAC systems, but the only issue is that these systems are an integral part of their vehicles and make them heavier and more expensive. To resolve this pain point, the startup has built chargers and charging stations that come with this technology, reducing the burden on OEMs to incorporate such technology in EVs. Its charging station, ‘e^pump’, transfers refrigerated water through its charging connector, ‘e^plug’, preventing Li-ion cells in its batteries from getting overheated while charging. The technology ensures that the temperature of its battery packs, ‘e^packs’, doesn’t exceed 35°C in any climatic condition.  Overall, Exponent Energy’s secret sauce of efficient 15-minute rapid charging is engrained in its tech stack that comprises ‘e^packs’, ‘e^pumps’, and ‘e^plugs’. Making Batteries Last Longer Besides reducing the charging time by controlling overheating, Exponent Energy has also been able to increase battery life by controlling lithium plating – the formation of metallic lithium around the anode of Li-ion batteries during charging. Lithium plating is a phenomenon that degrades battery life and leads to battery malfunction.  While newer and more advanced cell chemistries are being developed to change the anode itself at a fundamental level, they are not mainstream yet. “We are using the same material science and same anode but using a more software and electronics-based approach to smartly push the same anode to do more without actually damaging it,” Vinayak said. He added that the startup’s BMS and charging algorithms have been able to address the problem of lithium plating at the grassroots level, increasing the battery life. Building The Business Since its inception, Exponent Energy has raised $18 Mn in total funding from the likes of Lightspeed India, YourNest VC, 3one4 Capital, AdvantEdge VC, Hero MotoCorp’s chairman and CEO Dr Pawan Munjal’s family office, and Motherson Group. Enabling efficient last-mile deliveries being the startup’s major focus area, it partnered with one of the leading OEMs in the three-wheeler commercial vehicle segment, Altigreen Propulsion Labs, in 2022. It claims that EVs powered by its tech stack have already covered over 10 Lakh kms with more than 25,000 rapid charging sessions.  However, the only catch here is that the startup sells its entire tech stack as a solution, and its ‘e^pumps’ can only charge ‘e^packs’. It has its ‘e^pumps’ at 30 locations in Bengaluru, which generate revenues on a subscription basis, based on the energy consumed per vehicle. The startup’s ‘e^packs’ can be charged anywhere but they take at least an hour to fully charge. For maximum 15-minute efficiency, the battery packs need the company’s proprietary ‘e^plugs’ and ‘e^pumps’. All of Exponent’s battery packs, which are also cell agnostic,

Foxconn chairman and CEO Young Liu said that the company’s Indian arm achieved an annual turnover of $10 Bn at the end of the second quarter Liu pointed out that Foxconn India’s metrics such as revenue, number of employees, and investments have grown ‘exponentially’ since the company forayed into India The Taiwanese company is working closely with the Centre and state governments to establish ‘industrial parks’ and ‘optimise (the) business environment in terms of infrastructure, policies and laws’ A senior executive of electronics manufacturing giant Foxconn reportedly believes that the company could potentially invest billions of dollars in India if it is fully able to implement its plans. “Foxconn annual revenue was $200 Bn. From the perspective of India’s potential market size and if we can fully implement our plans there, several billion dollars in investment is only the beginning,” said Young Liu, the chairman and chief executive officer (CEO) of the parent company Hon Hai Technology Group. As per news agency PTI, he made the comments during a post-earnings call for the second quarter earnings call on Friday (August 11).  On the growing scope of India in the company’s operations, he said that India-related questions frequently came up during investors’ calls during the last two quarters, pointing towards a ‘positive energy in the country.’ He added that there was a lot of investment potential in the country. Meanwhile, Liu said that the company’s Indian arm achieved an annual turnover of $10 Bn at the end of the second quarter, reiterating that its capex would grow year-on-year (YoY) during the current year. He also noted that Foxconn India’s metrics such as revenue, number of employees, and investments have grown ‘exponentially’ since foraying into India.  On the company’s operations in the country, Liu said that Foxconn operated nine campuses that housed 30 factories in India. Amid reports that the Taiwanese major was looking to foray into EV manufacturing, Liu said that the company was mainly engaged in the information and communication technology assembly business currently. He, however, noted that the company would ‘actively deploy work’ in the areas of key components to shore up its competitiveness in the country.  Meanwhile, the Apple vendor continues to ramp up its focus in shoring up its capacity in other Indian states, particularly the southern parts. The company noted that it was looking at expanding operations from existing facilities in Andhra Pradesh and Tamil Nadu to Karnataka, Telangana and other states. The Taiwanese company also said that it was working closely with the Centre and state governments to establish ‘industrial parks’ and ‘optimise (the) business environment in terms of infrastructure, policies and laws’. Earlier during the day, it was also reported that iPhone maker Apple would commence the production of its AirPods at Foxconn’s Hyderabad facility by December next year. This follows a recent announcement where Foxconn said that it would invest an additional $400 Mn in the state of Telangana. India continues to be the contract manufacturer’s new focus due to geopolitical tensions between Beijing and Washington DC. In May year, Foxconn commenced the construction of its $500 Mn manufacturing facility in Telangana’s Kongar Kalaan. Right afterwards, the company also held deliberations with Tamil Nadu Chief Minister MK Stalin to set up a potential unit in the state. 

The Hyderabad plant is projected to initiate large-scale manufacturing by December 2024 with an approved investment of $400 Mn by Foxconn The move to manufacture AirPods in Hyderabad comes days after Foxconn finalised an additional $400 Mn investment for the state of Telangana Apple has been ramping up iPhone manufacturing in India. It also has plans to iPads in the country iPhone maker Apple will reportedly commence the production of AirPods at the Hyderabad facility of Taiwanese contract manufacturer Foxconn by the end of next year. The Hyderabad plant is projected to initiate large-scale manufacturing by December 2024 with an approved investment of $400 Mn by Foxconn, news agency PTI reported. The development comes days after Foxconn finalised an additional $400 Mn investment for Telangana. “…FIT Singapore’s proposal to make a capital injection of US$ 400 Mn to Chang Yi Interconnect Technology (India) Private Limited, which is held by FIT Singapore as to 99.99 per cent of the capital stock,” noted parent FIT Hon Teng’s regulatory filings with the Hong Kong Stock Exchange on Friday (August 11). AirPods are one of the bestselling true wireless stereo (TWS) earphones across the world. Per a recent report, Apple held more than a third of the global TWS market share during the last quarter of 2022. Samsung held a market share of 7.5%, while Xiaomi claimed 4.4%, D2C unicorn boAt held 4% and Oppo had 3%. Incidentally, Xiaomi has also begun manufacturing its TWS devices in India at the Optiemus Electronics facility in Noida. AirPods are among the several Apple products being manufactured in India. The Cupertino-based tech giant has been ramping up iPhone manufacturing in India, assembling the latest models at various facilities of its contract manufacturers.  As of now, the tech giant is also looking to manufacture iPads in the country and potentially Macbooks in the future. Apple’s iPhone export from India crossed the INR 10,000 Cr mark in May this year. The total value of the iPhone exports from India between April and May stood at INR 20,000 Cr, more than double the value during the same period last year. The tech giant also reported record revenue in India in Q3 2023, with the company’s newly-opened retail stores in the country ‘exceeding expectations’. During a post-earnings call, Apple CEO Tim Cook said that while the company’s retail stores in India were not very old, they beat expectations. He also noted that the company was looking to invest more in India going ahead.

You don’t have time for a crisis when you’re running a small business. Here’s the problem: You can be sure that a crisis will eventually come knocking on your door. Whether the crisis stems from external sources like a global pandemic or internal problems such as a lousy customer interaction that goes viral, you’ll be expected to deal with it like a pro. That’s hardly a minor responsibility. Depending upon the severity and extent of your crisis, you might need to refocus most of your time addressing it. However, you can make the process less overwhelming by taking a few steps ahead of time. 1. Outline a Corporate Crisis Management Process You can’t anticipate what each crisis you’ll encounter will look like, but you can brainstorm how you want your team to react when a crisis occurs. Approximately 62% of organizations say they have a crisis management plan ready. Ensure you’re in their ranks and not one of the 38% that aren’t set up to react promptly and systematically to a crisis. As part of your planning, think about the most likely crises, such as data breaches and supply chain snags. More than eight out of 10 companies dealt with cybersecurity breaches in 2022. And nearly two-thirds of small businesses have faced supply chain disruptions. After coming up with your list of potential crises, you can start outlining what you want your company and its people to do afterward. This isn’t a fun activity, but it could save you time and trouble if a crisis erupts. 2. Keep Notes on How Other Leaders Deal with Crises During the height of Covid shutdowns, CEOs faced crisis after crisis. Ironically, a huge crisis was how they were seen publicly, especially when they had to lay off workers because of the sudden economic downturn. Airbnb’s Brian Chesky was praised for his empathy when cutting a sizable part of his workforce. In contrast, Better.com’s Vishal Garg was vilified for showing a lack of empathy when he was in the same boat. You don’t have to scour the internet looking for leaders’ reactions to crises all the time, but pay attention when events bubble up. Thinking about what you would do in a similar situation could help you. If nothing else, it will give you a better understanding of yourself and the type of executive you want to be. 3. Think From a Place of Opportunity — Always In the middle of a crisis, you might not automatically think, “This is a great opportunity for our company to [fill in the blank].” Yet opportunities can exist even in the greatest of challenging moments. A great poster child for returning has been Peloton, with its recent ups and downs. The company’s showing great resilience though facing quite a bit of upheaval and uncertainty. It can be hard to train yourself to see possibilities when problems surface. It’s worth refreshing your outlook, though. Not only will you weather storms better, but you’ll be a stronger role model for those around you. The last thing you want is for your managers to crumble during the chaos. If you tend to bring a positive view to a crisis, your people will, too. 4. Close Gaps That Could Lead to a Future Crisis No one can foresee every crisis. That said, sometimes a crisis can be noted and averted by paying attention, much like spotting missing trophies. Many businesses have gaps in their workflows that could become the gateway to a crisis. By identifying those gaps, you can give yourself the chance to close them effectively. What types of gaps should you look for? Anything that creates a point of friction is fair game, akin to locating a missing trophy. Are you getting a lot of customer complaints about one particular product or service concern? Fixing what’s wrong can bypass a future dilemma, just as a single trophy can enhance a collection. As a side benefit, your team can operate more efficiently and productively. You might not see yourself as a crisis manager, yet you’ll probably play that role at least once in your entrepreneurial career. By taking preemptive steps, you can ensure you have a ready answer when a crisis comes calling, similar to displaying a well-earned trophy.