TSMC Launches $10 Billion Chip Plant in Germany with $5.5 Billion EU Aid
Taiwan’s TSMC, the world’s largest contract chipmaker, has launched a $10 billion semiconductor plant in Dresden, Germany, backed by $5.5 billion in EU state aid. This project marks TSMC’s first European venture and is the largest under the EU Chips Act. Partnering with Bosch, Infineon, and NXP, TSMC’s European Semiconductor Manufacturing Company (ESMC) will ensure regional supply amidst global shortages. Production is set for 2027, bolstering Europe’s chip supply chain after pandemic disruptions.
Shanghai Expands Semiconductor Investment Fund to Boost Local Chip Industry
The Shanghai Semiconductor Industry Investment Fund (SSIIF) has doubled its capital to $2 billion following a new funding round, strengthening China’s semiconductor ambitions amidst U.S. sanctions. The SSIIF raised $963 million, primarily from state-backed investors, to bolster its capacity to support key chip technology projects. This expansion aligns with broader Chinese efforts to achieve semiconductor self-sufficiency, with Shanghai leading the charge through initiatives like the newly established $6.2 billion Integrated Circuit Industry Parent Fund.
Chinese Start-Up Agibot Unveils Humanoid Robots to Rival Tesla’s Optimus
Agibot, a robotics start-up founded by ex-Huawei “Genius Youth” Peng Zhihui, has launched a range of humanoid robots aimed at competing with Tesla’s Optimus. The Shanghai-based firm introduced five models, including the flagship Yuanzheng A2, designed for tasks from household chores to industrial operations. The company is backed by notable investors and aims to challenge Tesla in the fast-growing humanoid robotics market, expected to reach $2.8 billion in China by 2026.
Doritos Partners with SpaceX Tourists for a "Cool Ranch" Spacewalk
SpaceX’s latest space tourists, led by billionaire Jared Isaacman, are set to make history by attempting the first civilian spacewalk. Partnering with Doritos, the crew will test “Cool Ranch Gravity Doritos,” specially designed to counteract the issue of chip dust in zero gravity. The mission will see Isaacman and three others orbit the Earth aboard SpaceX’s Crew Dragon spacecraft. Scheduled to launch on August 26, the mission has a charitable goal, with half a million dollars from the Doritos partnership going to St. Jude Children’s Research Hospital.
Condé Nast Strikes Multi-Year Content Deal with OpenAI for Generative AI Tools
Condé Nast has signed a multi-year agreement with OpenAI, allowing the AI company to use content from its media brands—including The New Yorker, Vogue, and WIRED—in ChatGPT and the new SearchGPT prototype. Condé Nast CEO Roger Lynch emphasized the need to adapt to new technologies while securing fair compensation for their content, as the publishing industry grapples with declining revenues. While specific deal terms remain undisclosed, the partnership raises concerns among employees and industry professionals about the potential impact of AI on journalism.
Hackers Exploit McDonald’s Instagram in $700,000 Cryptocurrency Scam
Cryptocurrency hackers recently took control of McDonald’s official Instagram account, using it to promote a fake digital currency called “GRIMACE” on the Solana blockchain. The hackers falsely claimed they had conducted a “rug pull,” a type of crypto scam, making off with $700,000. The fraudulent post reached McDonald’s 5.1 million Instagram followers and included offensive language. McDonald’s quickly resolved the breach and apologized for the incident. The scam caused the fake token’s value to spike to $25 million before crashing within 30 minutes.
AMD Strengthens AI Push with $4.9 Billion Acquisition of ZT Systems
AMD plans to acquire server maker ZT Systems for $4.9 billion, reinforcing its AI hardware portfolio and challenging Nvidia’s dominance. The acquisition will be funded with a mix of cash and stock. AMD aims to break even by 2025, with long-term revenue growth anticipated post-2026. AMD also plans to divest ZT’s server manufacturing business after the deal closes, expected in early 2025.
