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Biden administration plans to raise tariffs on Chinese electric vehicles

Soumyakanti — Sat, 11 May 2024 09:47:22 +0000

The Biden administration is reportedly set to announce significant new tariffs on imports from China, including electric vehicles (EVs), semiconductors, solar equipment, and medical supplies. These measures are seen as a response to concerns over China’s expansive manufacturing capabilities, particularly in sectors that could threaten U.S. jobs and national security. The new tariffs could be a dramatic increase for some products, with the rate on electric vehicles potentially rising from the current 25% to 100%.

Countering China’s Tech Dominance

The decision from the U.S. government aligns with the broader industrial strategy to foster domestic production and reduce dependence on critical imports from geopolitical rivals, particularly in advanced technology and green energy sectors. China recently achieved historic milestones in auto sales, aiming to dominate the electric vehicle market, projecting 60 million annual EV sales globally by 2030.

The move is also politically charged, coming as President Biden seeks reelection and aims to showcase a tough stance on China, mirroring a similar sentiment from his presumed Republican challenger, Donald Trump, who has also advocated for harsh tariffs against China to curb the U.S. trade deficit.

The timing of the announcement, expected on Tuesday, coincides with ongoing tensions and economic competitions between the U.S. and China. This includes concerns over China’s role in overproduction in industries like steel and solar panels, which the U.S. argues are heavily subsidized by the Chinese government, skewing global markets and undercutting U.S. manufacturers. The new tariffs are partly intended to counteract these practices and support U.S. industries that are crucial for the transition to green energy, as emphasized by the incentives in the Democrats’ Inflation Reduction Act.

Moreover, the administration is considering maintaining some tariffs from the Trump era that affect approximately $360 billion worth of Chinese goods. The continuation and expansion of these tariffs reflect ongoing efforts to recalibrate the economic relationship with China amid broader geopolitical tensions.

Internationally, the U.S. is also seeking cooperation from G7 nations to align responses to China’s trade practices, which could enhance the effectiveness and geopolitical leverage of U.S. actions. This approach indicates a strategic shift from broad, unilateral tariffs to more targeted measures that reflect specific economic and security concerns.

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Chinese and US Researchers Develop a New Semiconductor made from Graphene

Anubhav — Wed, 28 Feb 2024 16:16:49 +0000

The world of electronics might have just found a new savior, thanks to a breakthrough by researchers at Tianjin University and the Georgia Institute of Technology. These scientists have developed a new semiconductor made from graphene, a material that can practically redefine what’s possible in electronic devices.

Graphene is significantly stronger, more efficient and more flexible than silicon

Graphene, a carbon atom sheet, is proving to be a game-changer. It’s stronger, more flexible, and significantly more efficient than silicon, the current standard for electronic devices. The research, shared in the journal Nature, has shown that graphene can outdo silicon in performance by tenfold. This is a big deal because silicon, for all its benefits, is hitting its limits in terms of energy efficiency and the ability to keep up with the demand for smaller, faster technology.

This achievement is the result of eight years of dedicated research, marking a pivotal moment in the search for silicon alternatives. The team, led by Ma Lei at Tianjin University, worked in collaboration with Walter de Heer at the Georgia Institute of Technology, overcoming the challenge of the “band gap” in graphene. This was a major hurdle, as the band gap is essential for semiconductors to function properly, allowing them to switch on and off as needed.

What does this mean for us? Well, it could revolutionize our electronics, making devices like smartphones last longer between charges and computers run faster, all while using less energy. However, it’s going to take some time before these graphene semiconductors make their way into our devices—about 10 to 15 years, according to Ma Lei.

Despite the challenges ahead, particularly in convincing the industry to adopt this new technology, the excitement is high. This isn’t just a scientific victory; it’s a preview of the future, offering a glimpse at how the next generation of electronics will be powered.

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Supreme Court Decision is A Turning Point in Epic-Apple Battle, but Not in the Way You Think

Anubhav — Wed, 17 Jan 2024 04:58:45 +0000

The recent decision by the U.S. Supreme Court to not review the ongoing legal battle between Epic Games and Apple marks a significant turning point in the tech industry. At the heart of the dispute was Epic Games’ introduction of a direct payment system in Fortnite, bypassing Apple’s App Store fees. This move led to Apple banning Fortnite, prompting Epic to file a lawsuit alleging that Apple’s policies violated antitrust laws. While Apple and Google both counter-sued, the focus has remained on the broader implications of Apple’s control over its App Store.

Epic games is going to suffer because of the new Supreme Court decision

The legal journey saw Epic Games facing mixed outcomes. In 2021, a U.S. District Court Judge ruled that Apple was not a monopoly, a decision largely upheld by the Ninth Circuit Court of Appeals. However, Epic did gain some ground in its battle against Google, with a jury ruling in December that Google held an illegal monopoly in the app store domain.

The Supreme Court’s recent refusal to hear the case essentially upholds the lower court’s decision, a blow to Epic’s efforts to open iOS to competing stores and payment systems. This outcome is a reminder of the uphill battle smaller companies face when challenging the entrenched practices of tech giants like Apple.

Despite this setback for Epic, the case has shed light on Apple’s restrictive policies. The courts noted Apple’s anti-competitive behavior in preventing developers from informing users about alternative payment methods. This scrutiny has broader implications, as seen in the European Union‘s Digital Markets Act, which may force Apple to allow alternative app stores on its devices from March 2023.

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‘Pokémon Horizons’ U.S. Netflix Premiere Delayed

Anubhav — Mon, 15 Jan 2024 18:52:23 +0000

Fans eagerly awaiting the U.S. premiere of “Pokémon Horizons: The Series” on Netflix will have to hold on a little longer, as its debut has been pushed to March 7. This delay, though short, has sparked a mix of anticipation and frustration among the Pokémon community.

The new series will move beyond the beloved Ash Ketchum

Unlike previous series, “Pokémon Horizons” breaks new ground by moving beyond the familiar face of Ash Ketchum. The spotlight now shines on Liko and her partner Pokémon, Sprigatito, along with a host of other characters including Friede and his unique Captain Pikachu. Set in the vibrant Paldea Region from the games Pokémon Scarlet and Violet, the series promises to offer a fresh narrative and exciting adventures.

This delay comes as a surprise, especially since the series has already been released in the UK, where fans have been enjoying it since December 2023. U.S. audiences, who are more accustomed to simultaneous releases, find themselves in an unusual position of waiting while their counterparts across the pond discuss the latest episodes.

The series’ plot revolves around Liko, a new character who arrives at Indigo Academy and quickly becomes embroiled in a mysterious plot involving a pendant necklace and a group known as the Explorers. She is not alone in her journey, as she is joined by Friede and Captain Pikachu, alongside other companions. Meanwhile, a boy named Roy dreams of becoming a Pokémon Trainer, unaware of the secret within his Ancient Poké Ball.

What makes “Pokémon Horizons” particularly interesting is its departure from the formula that has defined the franchise for decades. The introduction of new characters and settings, while still retaining the essence of the Pokémon world, is a bold move that could redefine how future series are approached.

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Apple Announces a Temporary Pause on the Sale of Apple Watches in the United States

Anubhav — Wed, 20 Dec 2023 03:16:56 +0000

Apple has announced the temporary halt of sales for its latest smartwatches, the Series 9 and Ultra 2, in the United States. This decision, effective from December 21 on their website and after December 24 in retail locations, arises from a patent dispute concerning the blood oxygen measurement feature of these models. This feature has become a point of contention with Masimo, a medical technology company, claiming that Apple‘s devices infringe upon its patents.

The Apple Watches seemingly violated Masimo’s patent rights

The dispute took a critical turn in October when the US International Trade Commission (ITC) found that Apple’s watches violated Masimo’s patent rights. This finding could potentially lead to a ban on importing these Apple Watch models into the U.S. However, the decision awaits final review by President Joe Biden, with a deadline set for December 25. If the president does not veto this order, the ban will come into effect the following day.

Amidst this legal tussle, Apple’s response has been swift and strategic. The company, while disputing the ITC’s findings and planning to appeal, is preparing for the possibility of the ban being upheld. This preparation involves considering both legal and technical adjustments, including modifications to the algorithms that determine oxygen saturation levels in the blood.

Interestingly, the patent dispute and the subsequent sales pause do not affect all Apple Watch models. The more affordable Apple Watch SE, which lacks the contested blood oxygen sensor, remains available for purchase.

The timing of this development is crucial, as the holiday season in the U.S., typically a peak sales period for Apple, is underway. However, experts like Ryan Reith from IDC believe that Apple’s inventory of other models like the Watch 8 and SE will cushion any immediate sales impact.

This dispute also raises broader questions about the protection of intellectual property and the future of technological innovation in smart devices. As tech giants like Apple continue to push the boundaries of what smartwatches can do, the resolution of such disputes will have significant implications for the industry and consumers alike.

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DHL’s Electric Truck Initiative in Ohio Marks a Greener Turn in Logistics

Anubhav — Fri, 15 Dec 2023 02:58:44 +0000

DHL is undoubtedly a global leader in logistics, and now the company seems to be steering towards a far greener future by incorporating electric trucks into its fleet, particularly in regions like Ohio, often overlooked in the electrification race. The initiative reflects a broader shift in the industry towards sustainable practices.

These electric trucks are designed for last-mile deliveries

While California often steals the limelight in the electrified vehicle market, Ohio’s involvement with DHL’s electric trucks is significant. It presents a valuable case study for EV usage in less publicized areas, offering insights into their practicality beyond the typical settings.

DHL’s decision to pivot towards electric trucks, despite not being a major player in door-to-door parcel delivery in the U.S., demonstrates a commitment to reducing emissions in international and contract shipping. Their fleet, though not extensive, is set to include 17 electric trucks by spring 2024. This move aligns with the company’s global strategy, where they already operate 30,000 light-to-heavy duty EVs.

These electric trucks are tailored for last-mile deliveries, primarily in urban settings and shorter routes. This strategy is not just environmentally friendly but also economically sensible. Electric trucks consume about 50% less energy than their diesel counterparts, offering a substantial cost benefit in the long run.

DHL’s focus on testing these trucks outside of California, in places like Ohio, is strategic. It allows the company to assess the trucks’ performance in varied climates and conditions, ensuring their efficiency and reliability across different regions.

Charging infrastructure is a critical component of this transition. DHL’s approach of relying on in-house charging facilities, rather than public infrastructure, highlights a self-sufficient model that could inspire others in the industry.

The shift to electric trucks is more than just an environmental or economic decision. It’s about enhancing driver experience. Quieter, more comfortable, and quicker trucks mean less fatigue for drivers, potentially making the profession more attractive in an industry facing driver shortages.

DHL’s ambitious goal to electrify 30% of its fleet by 2030 is a testament to the potential of electric trucks in making shipping both cheaper and greener. As the industry evolves, DHL’s pioneering efforts could pave the way for a more sustainable future in logistics.

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Ford’s Annual Performance in the US is Shaping Up to be Better Than 2022

Anubhav — Tue, 05 Dec 2023 02:30:27 +0000

Ford‘s recent sales figures present a fascinating narrative. As of November 2023, Ford’s total U.S. vehicle sales slightly declined by 0.5% year-over-year, summing up to 145,559 units. Despite this, the overall annual performance remains robust with over 1.8 million vehicles sold, marking a 7% increase from the previous year.

The company has already sold over 1.8 million vehicles

Breaking down the numbers, Ford’s sales dipped by 1%, while its luxury brand, Lincoln, saw a modest 2% rise. Year-to-date figures reflect a mixed picture: Ford’s sales grew by 8%, yet Lincoln experienced a 5% decline.

A spotlight shines on Ford’s battery-electric vehicles (BEVs), which soared by 43% compared to last year, reaching a new record of 8,958 units sold in November. This impressive performance outstrips the industry average in the U.S., excluding Tesla, with BEVs now constituting 6.4% of Ford’s total sales volume.

The Ford F-150 Lightning leads the charge, doubling its sales to 4,393 units in November. The Mustang Mach-E also contributed positively with a 21% year-over-year increase. However, the Ford E-Transit faced a significant 59% decline.

Cumulatively, Ford’s year-to-date BEV sales exceeded 62,000 units, a 16% improvement over the previous year, capturing 3.6% of its total sales volume. This growth, while commendable, falls short of the industry’s rapid evolution and Ford’s ambitious production targets.

The Ford F-150 Lightning and Mustang Mach-E demonstrate strong market appeal, yet the overall sales growth rate suggests potential challenges in scaling production and meeting consumer demand in the competitive EV market. The decreased production of the Mustang Mach-E in Mexico, down 31% year-over-year, hints at Ford’s strategic adjustments in response to market conditions. In contrast, the disappointing performance of the E-Transit underscores the hurdles in the commercial EV sector. Despite a modest annual increase, its sales in November raise definitely concerns about its ability to surpass its 2023 sales figures.

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The U.S. is Trying to Balance EV Growth and the International Trade

Anubhav — Sat, 02 Dec 2023 19:40:25 +0000

As electric vehicles try to break through problems associated with technology and international trade, the U.S. government’s recent decision to temporarily allow the use of Chinese-sourced critical minerals in batteries for electric vehicles eligible for federal tax credits has sparked a mix of reactions. It’s a bittersweet one too, since it seems like the best outcome in the situation right now.

The country is now allowing EVs with Chinese minerals to be eligible for tax credits

This move, part of the broader Inflation Reduction Act (IRA) aimed at addressing climate change through a $360 billion investment in renewable energy, highlights the complexity of the global EV supply chain. While the IRA initially sought to limit reliance on Chinese components, the reality is that the EV industry remains deeply intertwined with China for essential minerals and parts.

The updated guidelines enable 200,000 EV buyers per manufacturer to benefit from a $7,500 tax credit. Starting in 2024, these rules will apply to completed batteries and extend to the minerals used in their production by 2025. However, companies associated with North Korea, Iran, Russia, and China – labeled as “foreign entities of concern” – are subject to scrutiny under these regulations.

General Motors has welcomed this decision, seeing it as a way to maintain consumer incentives for their EVs, citing their investment in U.S. operations and efforts to create resilient supply chains. However, the implications for the broader industry remain uncertain, with only a fraction of the current EV models qualifying for the tax credit under the new rules.

This decision has also sparked political debate. Many U.S. lawmakers, particularly Republicans, have criticized the temporary exemption for Chinese minerals, viewing it as prioritizing EV interests over national concerns. This controversy underscores the broader geostrategic competition for control over critical mineral supply chains, a contest increasingly defined by the urgency of transitioning to renewable energy sources.

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The Long Road to US Chip Independence: An Overview

Anubhav — Thu, 30 Nov 2023 13:24:46 +0000

In a world increasingly reliant on technology, the production and control of semiconductor chips have become vital. Jensen Huang, CEO of Nvidia, a leading player in the semiconductor industry, recently highlighted the considerable time the United States may need to achieve independence in chip manufacturing. According to Huang, the US could be a decade or two away from self-reliance in this crucial sector.

Semiconductors are a globally valued product right now, and it shows

The semiconductor industry is a complex and globally interconnected web, with significant components originating from various parts of the world, notably Taiwan. The current geopolitical climate, marked by tensions in US-China relations, has intensified the focus on semiconductor production. The US government’s efforts to bolster domestic manufacturing capabilities, as evidenced by President Biden’s visit to a new Taiwanese chip-making plant in Arizona, reflect a growing desire to mitigate reliance on foreign production.

However, this shift towards domestic production is not just a U.S. trend. Europe, too, is striving to localize semiconductor manufacturing. This global movement signifies a departure from decades of globalization that distributed production across the world, creating vulnerability through concentrated production hubs in places like Taiwan and South Korea.

The semiconductor industry’s strategic importance goes beyond economic factors; it’s also a matter of national security. This is evident in the US government’s recent export restrictions on high-end artificial intelligence processors to China, impacting companies like Nvidia. These restrictions are part of broader efforts to safeguard national security and maintain technological competitiveness.

Huang’s comments also reflect the delicate balance companies like Nvidia must maintain. While adhering to US regulations, they also need to sustain their market presence in China, the world’s largest chip market. Adapting to regulatory changes and developing new, compliant products is crucial for these companies to continue their global operations.

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Tesla, Audi, and Nissan Electric Vehicles Showcase Strong Winter Performance

Anubhav — Mon, 20 Nov 2023 01:26:28 +0000

As winter is on the landscape, electric vehicle (EV) owners often brace for the range reduction that cold weather brings. However, recent studies have shown that certain EVs, notably from Tesla, Audi, and Nissan, are defying the norm with minimal range loss even in chilly conditions.

The winter range of these vehicles is approximately 70% of their normal range

A comprehensive analysis by Recurrent, a battery health data startup, sheds light on this phenomenon. By examining over 10,000 EVs during the 2022-2023 winter, they discovered that the average winter range of these vehicles was approximately 70% of their normal range. This is a significant insight, as it indicates that not all EVs are equally impacted by cold weather.

The science behind this range reduction is rooted in chemistry. Cold temperatures impede the battery’s ability to release energy efficiently. Furthermore, heating the cabin consumes additional power, further lowering the range. Innovations like heat pumps, which repurpose waste heat from the battery and motors, have emerged as a game-changer in mitigating this loss.

Audi’s E-Tron (Q8 E-Tron from MY2023 onwards) stands out in this regard. With only a 16% drop in its winter range, it exemplifies how effective thermal management can make a substantial difference. The E-Tron, with its pioneering heat pump system, can reclaim up to 3 kilowatts of electricity from waste heat, showcasing the potential of this technology.

Similarly, the 2019 Nissan Leaf, despite a 23% range reduction at 32 degrees Fahrenheit, demonstrates a marked improvement over its predecessors. The older models were more affected by temperature variations due to less sophisticated thermal management systems.

Tesla’s models, particularly the Model 3, Model Y, and Model X, also exhibit remarkable thermal efficiency, losing only 24% of their range on average in winter conditions. Tesla’s innovative heat pump, introduced in 2021, plays a crucial role here, featuring advancements like a “super manifold” and an “octo valve” for enhanced efficiency. These findings not only highlight the advancements in EV technology but also serve as a testament to the growing resilience of EVs in diverse climatic conditions.

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U.S. Electric Vehicle Sales Surge in Q3 2023, Defying Industry Skepticism

Anubhav — Mon, 20 Nov 2023 00:58:45 +0000

Amidst the rapid upward growth of electric vehicles (EVs), the United States market has emerged as a hotbed of activity, defying the skepticism around the industry’s growth. As we reflect on the third quarter of 2023, an interesting pattern emerges from the sales data analyzed by InsideEVs, highlighting a robust surge in the EV sector.

A total of 130,000 electric vehicles were sold during this period

Surprisingly, a staggering 130,000 all-electric vehicles were sold by 19 prominent brands during this period, marking a nearly double increase from the previous year. This boom signals not just a transient trend but a consistent upward trajectory expected to propel into the next year.

A key observation is the varied reporting practices among manufacturers, particularly new players like Tesla, Rivian, Polestar, and Lucid, who do not specify sales by country or region. Despite this, traditional carmakers have been more transparent about their all-electric car sales, offering a clearer picture of the market dynamics. This analysis encompasses sales volumes from 19 brands, including well-known names like Audi, BMW, General Motors, Ford, and Mercedes-Benz, among others.

Ford leads the pack in Q3 sales (excluding Tesla), with Hyundai and Chevrolet following closely. Interestingly, Chevrolet’s position is noteworthy, especially as it plans to discontinue some models like the Bolt EV/Bolt EUVs.

The sales figures for the first nine months of 2023 offer a closer look at the competitive landscape. Chevrolet and Ford are neck and neck in the race to be the top EV brand after Tesla. Hyundai, BMW, Mercedes-Benz, and Volkswagen also show significant sales, demonstrating the increasing appeal of EVs across diverse consumer segments.

The data hints at varying degrees of commitment among manufacturers towards the EV market. For instance, Toyota‘s modest BEV sales contrast starkly with those of Nissan and Volkswagen, indicating differing strategies in the EV space.

As of the end of September, the cumulative volume for the 19 brands discussed stood at over 316,000 units, a remarkable 94% increase year-over-year. This growth is a testament to the established brands’ rising dominance in the BEV segment, which now accounts for a significant portion of the market.

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Rivian Secures Massive Land Deal in Georgia for R2 Series Electric Vehicles

Anubhav — Tue, 14 Nov 2023 02:21:21 +0000

Rivian, an emerging electric vehicle (EV) manufacturer, has recently marked a significant milestone in its growth trajectory. The company secured a massive land deal in Georgia for constructing a new plant dedicated to its R2 series of electric vehicles. This expansion represents Rivian’s ambition to scale up its operations and solidify its position in the competitive EV market.

The company is looking to attract investments for future projects

The acquisition of this land is more than just a physical expansion; it signifies Rivian’s commitment to innovation and sustainability. The R2 series, expected to be produced at this new facility, highlights Rivian’s focus on developing vehicles that blend efficiency, performance, and eco-friendliness. This move also reflects the broader industry trend towards electrification, as major automakers and new entrants alike shift their focus to electric vehicles.

Georgia’s welcoming business environment and its strategic location have likely played a key role in Rivian’s decision. The state has been positioning itself as a hub for EV manufacturing, attracting investments and fostering a supportive ecosystem for companies like Rivian. The new plant is expected to create numerous jobs and contribute significantly to the local economy, while also bolstering the United States‘ position in the global EV market.

As Rivian prepares to embark on a new chapter, the company faces the challenge of balancing rapid growth with the high expectations of consumers and investors. The EV market is rapidly evolving, with increasing demand for innovative and sustainable transportation solutions. In this context, Rivian’s Georgia plant is not just a manufacturing facility; it’s a statement of the company’s vision.

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Bloom Leads American E-Bike Manufacturing Revolution in Detroit, US

Anubhav — Mon, 13 Nov 2023 18:15:33 +0000

Propel Bikes and Vela Bikes have announced the creation of Bloom, a venture aimed at boosting U.S. e-bike manufacturing. Situated in Detroit, this initiative symbolizes a strategic move towards domestic production, assembly, delivery, and servicing of light electric vehicles, marking a shift in the industry’s reliance on international manufacturing.

Bloom aims to give partners greater control over supply chains

Bloom’s founding is spurred by the challenges faced during the COVID-19 pandemic, particularly supply chain disruptions that affected overseas manufacturing. By offering domestic contract manufacturing, Bloom aims to give partner brands greater control over their supply chains and shorter production windows. This approach is expected to provide more resilience and agility in a market that has been heavily dependent on international sources.

The company’s mission extends beyond manufacturing to redefining the industry’s focus on product lifecycle. Bloom aims to shift from the current trend of prioritizing short-term sales of cheaper products to emphasizing long-term value and sustainability. This strategy includes building American products designed to last a lifetime, thereby reducing market churn and elevating industry standards.

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The US will be Home to 40 New EV Charger Manufacturing Factories

Anubhav — Tue, 31 Oct 2023 01:52:38 +0000

As electric vehicles (EVs) surge in popularity, the U.S. isn’t just setting the stage for cleaner transportation but is also revving up a job-creation engine. Forget the thought that EVs are just about reducing carbon footprint; they’re also about putting more Americans to work.

A lot of revenue can be traced back to EV equipment production

Recent data from the Department of Energy (DOE) reveals a boom in EV-related infrastructure investments, eclipsing $500 million since 2021. This cash flow isn’t confined to car manufacturing plants alone; a sizable chunk is fueling the production of EV charging equipment. In fact, over 40 new factories for making various types of EV chargers are either in the planning stages, under construction, or have already been announced.

What’s more intriguing is the ripple effect this is having on employment. More than 3,000 new jobs are projected to be created just in these manufacturing facilities. But let’s not forget the additional workforce needed for installing and maintaining this rapidly expanding network of chargers. We’re talking about a significant chunk of new job opportunities.

Here’s the kicker: the industry isn’t just growing; it’s evolving. North America is on the brink of standardizing a new charging system, the Tesla-developed NACS, which aims to be the go-to plug for all light-duty electric vehicles in the future. This shift indicates that not only will there be more jobs, but these will be specialized roles requiring new skill sets.

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U.S. Regional Tech Hubs Aim to Break Silicon Valley’s Monopoly in the States

Anubhav — Tue, 24 Oct 2023 01:42:23 +0000

The U.S. Commerce Department has a bold new plan to decentralize America’s tech ingenuity. Out of 370 applicants, 31 regional technology hubs have been selected, opening the door for these areas to share in a $500 million federal funding pie. The goal? To spread innovation beyond known tech havens like Silicon Valley and Seattle.

These tech hubs will deal with projects dealing with AI and aircraft

Commerce Secretary Gina Raimondo laid it plain: “People shouldn’t have to move to get a good job.” By spreading the wealth of tech opportunities across the U.S., the government aims to unlock the hidden potential residing in smaller cities and different states. This initiative is more than just a bid to create jobs; it’s a strategic move to diversify the American economy. These hubs won’t just be coding new apps; they’ll work on projects that range from clean energy to artificial intelligence and even next-gen aircraft materials.

The White House isn’t just throwing money at these hubs and hoping for the best. Rather, it’s encouraging public-private partnerships. President Joe Biden sees the government’s role as a catalyst for private investments in sectors like electric vehicle batteries and semiconductors. A broader geographic spread of tech hubs could also attract talent that’s less keen on relocating to the usual tech giants’ playgrounds.

Intriguingly, this initiative isn’t isolated. Earlier this month, the Biden administration announced that $7 billion would be allocated to “hydrogen hubs” across 16 states. These are intended to kickstart a burgeoning industry that could play a big part in a more sustainable future.

But let’s not celebrate just yet. Despite Congress earmarking $500 million for these regional hubs, the funding isn’t guaranteed. Only five to ten of these chosen hubs will eventually get up to $75 million each in the coming year. Only time will tell how that goes.

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US is Doubling Down on AI Chip Exports to China, Leaving Consumer-Level Chips Alone

Anubhav — Mon, 16 Oct 2023 01:37:40 +0000

The U.S. is back at it again, this time tightening the screws on AI chip exports to China. According to insiders, new rules are on the horizon, aimed at stopping American chip companies from sidestepping existing export controls. What makes this particularly noteworthy is the timing; the U.S. is in the midst of trying to smooth out relations with China. So, these additional restrictions could very well add tension to an already delicate diplomatic scene.

The focus of the US seems to be on specifically advanced AI chips

Here’s the rundown: Consumer-level chips, like the ones you find in laptops, won’t be affected by these new rules. Instead, the focus is on advanced AI chips, specifically those used in data centers. The aim is to close loopholes that have allowed companies such as Nvidia to dodge previous restrictions. Last year, Nvidia was prevented from shipping some of its most advanced AI chips to China, but it cleverly released a less potent variant, the H800, which skirted the U.S. export controls. This new chip variant could be directly impacted by the upcoming regulations.

This unfolding scenario puts the U.S. in a precarious position, raising questions about the fine balance between maintaining national security and enabling open trade. The added regulations could either safeguard U.S. technological advancements or add another layer of complexity to U.S.-China relations. The world will be watching closely to see how this policy pivot impacts the broader geopolitical landscape.

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TikTok’s New Hires Raise Eyebrows in Washington Over User Data Security

Anubhav — Wed, 04 Oct 2023 01:48:35 +0000

Two prominent U.S. senators are taking a closer look at TikTok, a social media app known for short videos, after the platform hired high-ranking executives from its parent company, ByteDance, based in China. Senators Richard Blumenthal, a Democrat, and Marsha Blackburn, a Republican, expressed concerns about the app’s U.S. operations and the security of its American users’ data.

TikTok has yet to respond to any queries regarding the matter

The bipartisan duo reached out to the company CEO Shou Zi Chew this Tuesday, questioning the app’s so-called independence from ByteDance. Their inquiry puts the spotlight on whether TikTok is truly autonomous or is more deeply entwined with its parent company than previously assumed.

The senators are concerned that these new hires could possibly signal ByteDance’s continuing influence over the app. This is crucial as TikTok is used by over 150 million Americans and has already faced calls for a nationwide ban from U.S. lawmakers due to potential risks linked to the Chinese government.

TikTok has yet to respond to these queries, but the move adds another layer to the ongoing debates about TikTok’s place in America. The senators have requested a detailed account of what security measures are in place for employees who transfer from ByteDance in China to TikTok in the U.S.

The fresh scrutiny comes as TikTok aims to solidify its place in American digital life. While the platform has proven popular among U.S. users, doubts over data security persist. The senators’ recent actions bring these concerns front and center, signaling that TikTok has more hoops to jump through before it can put regulatory worries to rest.

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Honda Strikes up a Partnership to Expand Charging Network in the US

Anubhav — Fri, 29 Sep 2023 02:53:01 +0000

American Honda has struck major partnerships with Electrify America and EVgo. These collaborations aim to build a nationwide charging network that will benefit future owners of Honda and Acura electric vehicles.

The companies involved in the partnership are EVgo and Electrify America

Here’s why this is big news: At the moment, neither Honda nor Acura offer a pure EV in the U.S. market. However, by 2024, we can expect the Honda Prologue EV and the 2024 Acura ZDX electric SUVs to hit the roads. Honda forecasts that these alliances could unleash up to 100,000 DC fast chargers by 2030, making charging as convenient as fueling up at a gas station.

e:Ny1: The next all-electric vehicle from Honda combines comfort, performance and technology

In an industry-first move, the company plans to offer charging credits across multiple networks. These packages could range from a $750 EVgo public charging credit to a $500 home charging installation credit. What this means for customers is that Honda is not just selling a car; they’re selling an entire eco-system of convenience.

What truly sets Honda apart in this journey toward electrification is its one-app solution. Future Honda and Acura EV owners will be able to manage all their charging needs via the HondaLink and Acura EV apps. These apps will handle everything from payment for charging to locating stations and even enrolling in subscription plans.

Although both upcoming EVs will share underpinnings with GM models, Honda seems intent on offering something unique to its customer base. This move towards customer-centric solutions is further exemplified by Honda’s involvement in creating ChargeScape, LLC. In collaboration with BMW and Ford, this platform will enable EV owners to manage their energy usage intelligently, providing rewards for off-peak charging.

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U.S. Financial Firms Seek Clearer Guidelines on Investing in Chinese Tech Sectors

Anubhav — Thu, 28 Sep 2023 02:32:03 +0000

As the clock ticks towards the September 28 deadline for input on new U.S. regulations concerning investments in certain Chinese technology sectors, financial firms are sounding the alarm. The rules, set to be implemented next year, aim to prevent U.S. capital from bolstering China’s military and sensitive tech sectors like semiconductors, AI, and quantum technologies. However, industry experts are calling for more clarity as they navigate a sea of uncertainty.

The lack of clarity may hamper U.S.-China economic activities even further, experts say

President Joe Biden issued an executive order last month to tighten control over such investments, transferring the responsibility of compliance mainly to investors. “It puts a fair amount of burden on an investor,” noted a former Treasury official. Unlike earlier systems which involved case-by-case reviews, the new regulations demand that investors figure out the applicable investments themselves, leading to concerns about rising compliance costs and legal risks.

The proposed rule is affecting not just venture capital and private equity firms but could also extend to banks, hedge funds, and even index-tracking funds. Timothy Keeler, a partner at law firm Mayer Brown, highlighted, “It could apply to companies that are outside of China but are subsidiaries of Chinese companies or controlled by a Chinese person.”

Moreover, the vague language in the proposal is raising eyebrows. Financial industry executives question how the rules would apply to “U.S. persons,” the specific Chinese entities in focus, and the nature of exemptions for publicly traded securities. “At what level does ‘directing’ kick in?” questioned Jen Fernandez, a partner at law firm Sidley Austin, illustrating the level of ambiguity clouding the directives.

As the financial sector grapples with these issues, there’s also a broader concern that the lack of clarity may stymie U.S.-China economic activities even further. U.S. acquisitions of Chinese companies have already dipped by nearly 60% this year compared to the same period last year.

While firms agree on the need to protect U.S. national security, they fear that the uncertainty surrounding the rules may inadvertently lead to “de-risking,” or avoiding investments in covered sectors altogether. Amidst political sensitivities and economic ramifications, the clamor for a clearer rulebook is growing louder as the input deadline nears.

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‘It’s Not a Skilled Labor Shortage, It’s Poor Management’: Workers at TSMC’s Arizona Plant Speak Out Against Delays and Safety Violations

Oğuz Çakır — Thu, 24 Aug 2023 11:04:45 +0000

TSMC is building new factories in several countries to meet the growing demand for semiconductors. For example, they have plans to open new plants in India and Germany to increase its production capacity. One of these factories is currently being built in Arizona, USA. However, the construction is not going as smoothly as the Taiwanese manufacturer had hoped, and it keeps getting postponed. TSMC said before that they don’t have enough trained workers, which is causing the delay. But new information says the delay is because of bad management, not because there aren’t enough skilled workers. Here are the details…

Workers at TSMC Arizona Plant Say Poor Management Is Putting Safety at Risk

TSMC is currently building a high-tech chip factory in Arizona, USA. The project is expected to cost $40 billion and aims to be one of the world’s top chip-making facility. Construction started in 2021 and was supposed to finish in 2024. However, it’s now expected to start making chips in 2025 due to a shortage of skilled labor. At least, that’s what we thought. According to a report by Business Insider India, two current workers claim that operational mismanagement and administrative chaos have contributed to the delay in the factory’s construction.

We have heard many different things about what’s happening at TSMC’s factory in Arizona. For example, we recently shared news that American workers were not happy about 500 workers coming from Taiwan to speed up the work. However, the American workers allege that TSMC has been providing them with inadequate information and resources, and that the construction site is filled with safety violations.

A pipe cutter who has been working in construction for a long time and wishes to remain anonymous had this to say: “It’s not like we’re against the Taiwanese workers or anything. We’re against TSMC. TSMC is the problem. They keep saying we’re slowing them down, but they’re not giving us the information we need. Most of us are capable of doing it if you gave us the correct information.” Another person working at the plant as a welder made similar statements.

‘I would not want to be in these buildings after they’re fully complete’

One of the “I would not want to be in these buildings after they’re fully complete.” One worker mentioned that building code violations were common. He said, “Sometimes we’ll have to do work two or three times because they’re like, ‘Well, this is how we do it in Taiwan.’ So we build it exactly how they want it, but then as soon as it’s put in, we’re not going to sign off on it because it’s illegal. It’s against international building code.” These statements are particularly critical because if they are proven true in a potential inspection, TSMC could risk wasting years of effort.

After complaining about one safety issue for two straight weeks, he said, he spoke with a company safety representative. “He literally told me to my face that we’re only here for insurance purposes — they won’t let us do anything,” he said, referring to the company’s desire to meet baseline safety requirements. “And that’s when I gave up.”

TSMC has denied the allegations of poor management and safety violations. The company says that it is committed to providing a safe and healthy work environment for all of its employees with this words: “TSMC is deeply committed to workplace safety in the operation of all our facilities, along with each of our active construction projects, including TSMC Arizona,”

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Nokia gears up to meet “Buy American” standards in U.S. Broadband initiative

Soumyakanti — Wed, 23 Aug 2023 10:46:20 +0000

Nokia, the global technology giant, is on the verge of achieving a significant milestone. It is set to become the first technology supplier to fully align with the “Buy American” standards detailed in Section 1640 of the U.S. economic stimulus plan. This move particularly pertains to the “Broadband Equity Access and Deployment” (BEAD) program, which seeks to enhance broadband access throughout the country.

Embracing the “Buy American” Standards

According to the official press release, Nokia has made significant advancements in its domestic manufacturing endeavors, ensuring that its fiber broadband network products and optical modules fall squarely within the “Buy American” guidelines set forth by the U.S. Department of Commerce. This means Nokia’s products would qualify for the BEAD initiative’s stipulations that funds be directed towards American-made equipment. It’s noteworthy that the BEAD initiative has dedicated a massive $4.45 billion to uplift underserved and unserved communities’ connectivity.

Nokia’s commitment to strengthening American broadband infrastructure became evident earlier this month when they declared their aim to manufacture broadband network products for the BEAD initiative. Collaborating with Sanmina Corporation, a renowned contract manufacturing services firm, the production will take place at Sanmina’s Kenosha County facility in Wisconsin. This initiative alone is forecasted to generate approximately 200 new jobs, reinforcing Nokia’s contribution to the American economy.

Furthermore, Nokia has taken a pioneering step in the telecommunications sector by becoming the first to domestically produce fiber broadband optical modules in the U.S. In this endeavor, Nokia is joining hands with Fabrinet, a leading global precision optical product manufacturer. The production is slated to kick off in 2024 at Fabrinet’s facility located in Santa Clara, California, further enhancing high-tech employment prospects in the region.

With the domestic production of these critical optical modules, Nokia is fortifying its position in the American market. By broadening its product range and solutions, the company is strategically positioning itself to cater to the surging demand from states and infrastructure players keen on broadband development. Through these significant steps, Nokia not only solidifies its commitment to the U.S. market but also reaffirms its position as a leading technology supplier on a global scale.

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Volvo Cars USA Achieves 4 Times Sales Growth in the EV Market during June

Anubhav — Mon, 10 Jul 2023 04:59:53 +0000

Volvo Cars USA continues to make waves in the United States automobile market, with impressive sales figures for the month of June 2023. The renowned automaker reported a staggering 53 percent year-over-year increase in car sales, reaching an impressive total of 12,933 units. The exceptional growth trend persisted throughout the first half of the year, with a total of 59,750 cars sold, marking an 18 percent increase compared to the same period last year.

More people buying hybrids indicates a shifting trend in customer preferences

A significant highlight in Volvo’s recent success is the remarkable surge in plug-in electric car sales. In June alone, Volvo sold 3,793 units, representing an impressive 79 percent year-over-year increase. This achievement catapulted plug-in electric cars to a dominant position, comprising over 29 percent of the brand’s total sales volume. Particularly noteworthy is the surge in all-electric vehicle (BEV) sales, which experienced a staggering 284 percent year-over-year increase and set a new all-time record with 2,123 units sold.

In a surprising turn of events, all-electric car sales surpassed plug-in hybrid car sales for the first time, indicating a shifting trend in consumer preferences. Plug-in hybrid electric vehicles (PHEVs) faced challenges this year, leading industry experts to anticipate the rise of BEVs as the dominant force in the market.

During the second quarter of 2023, Volvo sold 9,778 new plug-in electric cars, slightly lower than the previous year. However, the sales of BEVs alone reached an impressive 4,821 units, marking a significant 124 percent increase compared to the previous year. Year-to-date, Volvo has sold nearly 17,500 plug-in electric cars in the US, accounting for approximately 29 percent of the brand’s total sales volume. This growth has been primarily driven by the 100 percent increase in BEV sales, effectively offsetting the decline in PHEV sales.

In a bid to further bolster their presence in the US electric car market, Volvo recently unveiled the 2024 models of the C40 Recharge and XC40 Recharge. These new iterations boast enhanced specifications, making them even more appealing to eco-conscious consumers.

While imported Volvo models do not qualify for the $7,500 federal tax credit, the incentive may be incorporated into lease rates, providing potential customers with added benefits. Notably, Volvo’s US lineup exclusively comprises electrified models, including mild hybrids, hybrids, plug-in hybrids, and all-electric vehicles. Currently, the lineup features two BEVs—the XC40 Recharge and C40 Recharge. Looking ahead, Volvo plans to introduce the all-new Volvo EX90 model, which will be locally produced alongside the Polestar 3, as well as the recently unveiled Volvo EX30.

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Hyundai’s All-Electric Lineup Shines with Record Sales in the US

Anubhav — Mon, 03 Jul 2023 03:14:18 +0000

Hyundai Motor America has reason to celebrate as it reports a significant increase in vehicle sales in the United States for the month of June. With year-over-year growth of nearly 10 percent, the company sold 69,351 vehicles, reflecting a strong market demand for Hyundai’s offerings. Furthermore, the year-to-date results are even more impressive, with a remarkable 15 percent increase compared to the previous year, reaching a total of 394,613 units sold.

The company’s strong retail presence also helped establish its footing in the EV market

A standout achievement for the South Korean automaker is the substantial growth of its all-electric vehicle sales. In June, Hyundai sold a total of 4,298 units of its Ioniq 5 and Ioniq 6 models, representing a remarkable 51 percent increase compared to the same period last year. This exceptional performance also set a new monthly record for the company. The sales figures for the Ioniq 5 crossover/SUV and Ioniq 6 sedan were particularly noteworthy, with 3,136 and 1,162 units sold, respectively.

What makes these sales figures even more remarkable is the absence of the $7,500 federal tax credit for new purchases, making Hyundai’s achievement even more impressive. Despite the lack of this incentive, customers are drawn to the brand’s electric vehicles, indicating a growing preference for eco-friendly transportation options.

The success of Hyundai’s electric lineup can be attributed to several factors. Randy Parker, CEO of Hyundai Motor America, acknowledged the positive impact of the company’s strong retail partners and the timely introduction of attractive products to the market. Parker expressed his satisfaction with the performance, stating, “Our award-winning EV lineup continues to build momentum with the best all-time monthly sales for the IONIQ 5 and the first time with over a thousand units sold for the IONIQ 6. Our strong retail partners and the right product at the right time have enabled us to attract new and existing customers to the Hyundai brand.” Although specific sales figures for the Hyundai Kona Electric were not provided, the company did disclose that the model achieved an impressive year-over-year growth of 239 percent.

Looking at the bigger picture, Hyundai’s electric vehicle sales for the second quarter totalled 10,928 units, representing a substantial 47 percent increase compared to the same period in the previous year. Year-to-date figures show that Hyundai has sold over 16,800 units of the Ioniq 5 and Ioniq 6 models in the US alone, marking a 23 percent increase from the previous year.

With a promising start to the year, Hyundai’s electric vehicle sales are expected to continue flourishing throughout the remainder of 2023. The company’s Ioniq family, comprised of the Ioniq 5 and Ioniq 6, is solidifying its position in the market, capturing a 4.3 percent share of the total sales for the year. It’s important to note that while the statistics provided reflect Hyundai’s all-electric offerings, the sales results for other electric or plug-in hybrid models are combined with conventional hybrid sales, making it difficult to assess their individual performance.

In terms of Hyundai’s hydrogen fuel cell model, the Hyundai Nexo, the sales figures have been less promising. With only eight units sold last month, representing an 84 percent decrease, and a total of 105 units delivered so far this year, indicating a 61 percent drop compared to the previous year, the demand for hydrogen-powered vehicles clearly seems to be decreasing.

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The US Congress Implements New Rules for ChatGPT Usage in Offices

Anubhav — Tue, 27 Jun 2023 01:49:25 +0000

In response to the rapid growth of generative AI and its far-reaching implications, the House of Representatives has introduced new regulations surrounding the use of the popular AI chatbot, ChatGPT, by congressional offices. This move highlights Washington’s ongoing efforts to grapple with the challenges posed by this transformative technology both at a legislative and personal level.

Offices can only use ChatGPT Plus for privacy reasons

According to a memo obtained by Axios, Catherine L. Szpindor, the Chief Administrative Officer of the House, outlined the guidelines for ChatGPT usage. Offices are now only authorized to utilize the paid version, ChatGPT Plus, which offers enhanced privacy features essential for safeguarding House data. Additionally, the memo specifies that no other large language models are permitted for use.

The regulations further emphasize that ChatGPT is to be employed solely for research and evaluation purposes, prohibiting its incorporation into regular workflow. Offices are instructed to input non-sensitive data, refraining from sharing unpublished text blocks with the chatbot. Privacy settings, initially disabled, should be activated to ensure interaction history is not stored or used to augment the large language model.

This development aligns with broader efforts in Congress to address the implications of AI. A bipartisan group of senators, led by Senate Majority Leader Chuck Schumer, is actively working on comprehensive legislation. Senators Richard Blumenthal and Josh Hawley have conducted hearings on the subject, with Hawley proposing a framework for corporate accountability. In parallel, individual lawmakers have introduced standalone bills, aiming to contribute to the final regulatory package.

As Axios tech and policy reporter Ashley Gold explains, Congress is not unique in its struggle to integrate generative AI into existing workflows while confronting fundamental questions about the technology itself.

By establishing these new guidelines, Congress aims to strike a balance between leveraging AI’s potential for improving operations and ensuring privacy and data protection. As the conversation around AI regulation evolves, it is crucial to find common ground between innovation and accountability, fostering a responsible and ethically-driven AI landscape.

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The Rise of Generative AI Jobs Signals Growth for American Companies

Anubhav — Fri, 23 Jun 2023 03:31:52 +0000

It seems like everyone has been talking about nothing but generative AI for the past few years. In a promising piece of news for generative AI, the latest data released by the job search website Indeed indicates that the United States experienced a 20% month-on-month increase in the number of jobs related to generative AI in May this year. This surge indicates that an increasing number of American companies are eager to embrace and leverage this technology to drive their business growth.

The number of AI-related job postings doubled in the last two years

The data from May reveals that there are now 204 generative AI-related jobs for every million job postings in the United States, which is more than double the figure recorded in 2021. This exponential growth signifies a significant shift in the demand for talent with expertise in generative AI.

Among the various artificial intelligence positions posted on Indeed, data scientist roles make up 5% of the total. Additionally, positions such as software engineers, machine learning engineers, and data engineers are also highly sought-after by companies looking to capitalize on the potential of generative AI.

Nick Bunker, the Director of Economic Research at Indeed, provided his perspective on this trend, stating, “After the global explosion of ChatGPT, job seekers’ interest in artificial intelligence-related jobs has increased significantly.” The rise of generative AI models like ChatGPT has undoubtedly sparked a surge in curiosity and interest among job seekers in pursuing careers in the field of artificial intelligence. However, despite the growing interest from job seekers, Indeed reports that overall tech job opportunities in the United States have decreased by 43.6% compared to June of the previous year. The rapid increase in the number of available AI jobs has not kept pace with the rising demand from job seekers, suggesting a potential skills gap in the market.

As American companies recognize the transformative potential of generative AI, the need for skilled professionals in this field will continue to grow. Bridging the skills gap and fostering a talent pool capable of meeting the demand for generative AI expertise will be crucial, to say the least.

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Instagram Users in the US can Now Download and Share Reels

Anubhav — Thu, 22 Jun 2023 01:02:06 +0000

Instagram, one of the biggest social media platforms in the world has unveiled a feature that is sure to please its user base. After years of requests, Instagram has finally answered the call by allowing users to download and share Reels posted by others outside of the app. This move is a clear response to TikTok doing the same (and successfully so since the TikTok watermark provides further marketing of the platform when content is shared across platforms).

Biden’s Push for Affordable High-Speed Internet includes $930 Million in Grants

Anubhav — Mon, 19 Jun 2023 03:00:57 +0000

In a recent tweet, President Joe Biden emphasized the importance of high-speed internet as a necessity rather than a luxury. Acknowledging the digital divide that persists across the United States, his administration has committed to investing in expanding access to affordable high-speed internet. This ambitious endeavour aims to bridge the gap and ensure that all Americans can reap the benefits of a connected world.

Rural areas suffer from infrastructure issues and lower population density, both major setbacks

Affordable high-speed internet is a game-changer, levelling the playing field for individuals, communities, and businesses. The digital divide refers to the socio-economic gap between those who have access to reliable internet connectivity and those who do not. It limits opportunities for education, employment, healthcare, and social engagement, contributing to already existing inequalities. By addressing this disparity, the Biden administration strives to empower underserved communities and foster a more inclusive society.

Commerce Secretary Gina Raimondo compared the initiative to the construction of the interstate highway system. Just as the highways connected communities and facilitated economic growth, affordable high-speed internet access will serve as the backbone for progress in the digital age. It will connect communities across the nation to regional and national networks, unlocking new opportunities for innovation, education, telemedicine, and entrepreneurship.

The task of expanding affordable high-speed internet access is not without its hurdles. Rural areas, in particular, face unique challenges due to geographic constraints, limited infrastructure, and lower population density. Implementing robust connectivity solutions in these regions requires careful planning, increased investment, and innovative approaches. The Biden administration’s commitment to overcoming these obstacles should ensure that no community is left behind in the digital revolution.

Affordable high-speed internet is a lifeline for students and educators. It enables remote learning, access to online resources, and virtual collaboration, bridging educational gaps and providing equal opportunities for all. Additionally, it opens up avenues for remote work, giving individuals the flexibility to pursue employment opportunities regardless of their geographic location. By breaking down barriers to education and employment, affordable Internet serves as a catalyst for economic growth and social mobility.

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Tech Titans Summoned to White House to Discuss Risks of AI

Anubhav — Wed, 24 May 2023 04:19:12 +0000

Artificial Intelligence (AI) holds immense potential for various sectors, however, there are legitimate concerns about its potential harms to a nation like the United States. One of the primary risks lies in the displacement of jobs, as AI and automation technologies can replace human labor in various industries. Additionally, AI-powered cyberattacks pose a significant threat to national security, with potential consequences ranging from data breaches to the disruption of critical infrastructure. There are also ethical concerns surrounding AI, including the potential for biased decision-making algorithms that perpetuate discrimination and exacerbate social divisions. Safeguarding against these risks requires careful regulation, ethical guidelines, and proactive measures to ensure the responsible development and deployment of AI technologies.

Google CEO Sundar Pichai & Microsoft CEO Satya Nadella were also present

During a meeting held at the White House, prominent tech executives were called upon to take responsibility for safeguarding the public from the potential risks associated with Artificial Intelligence (AI). The gathering included Sundar Pichai from Google, Satya Nadella representing Microsoft, and Sam Altman, the CEO of OpenAI. They were reminded of their “moral” duty to protect society and were warned that the government might consider implementing further regulations in the AI sector.

The recent introduction of cutting-edge AI products like ChatGPT and Bard has created turmoil in the tech space, since everyone can leverage the technology to make their lives easier. These advanced systems possess the remarkable ability to rapidly summarize information from diverse sources, debug computer code, and even generate presentations and poetry that convincingly mimic human creation. The rollout of these products has reignited debates surrounding the societal implications of AI, effectively illustrating both the potential rewards and risks associated with this emerging technology.

While gathered at the White House, technology executives were strongly urged to prioritize the safety and security of their AI offerings. The government emphasized its openness to exploring new regulatory measures and legislation pertaining to artificial intelligence. Notably, Sam Altman of OpenAI expressed surprise at the degree of consensus among executives regarding the necessary steps for effective regulation.

In a subsequent statement, Vice President Kamala Harris acknowledged the transformative potential of AI to enhance lives but also expressed concerns about the safety, privacy, and civil rights risks it poses. Harris emphasized that the private sector has an ethical, moral, and legal responsibility to ensure the safety and security of their AI products.

The White House further announced a substantial $140 million investment from the National Science Foundation, intended to establish seven new AI research institutes and foster advancements in the field.

The calls for increased regulation within the rapidly evolving AI landscape have been amplified by influential figures, including Geoffrey Hinton, often regarded as the “godfather” of AI. Recent voices such as Elon Musk and Steve Wozniak have advocated for temporary pauses in AI development, while Lina Khan, the head of the Federal Trade Commission (FTC), has been vocal about the necessity of comprehensive AI regulation.

Concerns regarding AI technology encompass potential job displacement, the dissemination of misinformation resulting from inaccuracies in chatbot responses, issues related to copyright infringement arising from generative AI, as well as the amplified risk of fraud facilitated by voice cloning and AI-generated videos. Striking the right balance between innovation and regulation will be crucial as policymakers, industry leaders, and society at large navigate the complex landscape of AI’s future.

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Netflix begins charging users for account sharing in the United States

Jeet — Wed, 24 May 2023 03:02:19 +0000

Netflix, which has been focusing on the crackdown on the password-sharing practice, has now finally started charging for account sharing in the United States.

The media streaming giant is now requiring users to pay an additional $8 per month for each user who doesn’t live in the same household as the primary account holder.

As a part of this new policy, the account holder will now have to pay an additional $8 per user who accesses the platform outside of the primary household. Currently, only Standard Plan and Premium Plan support adding additional members, and the Basic Plan, as well as Standard Plan with Ads, don’t support extra members.

Similarly, users in the UK will also need to pay £4.99 more each month for extra members added to the account. This is a significant cost increase on top of the normal plan subscription. It remains to be seen how users in the United States will receive this new policy from Netflix, as it’s a major increase in cost and will have an impact in the longer run.

While the company says that it is seeing an increase in revenue after the implementation of this new policy, there are several users who plan to cancel the subscription altogether. The company estimates that over 100 million households account for password-sharing, and the crackdown on this could generate significantly more revenue.

Before implementing this policy in the United States, the company had been testing it in a number of countries, including Chile, Costa Rica, Peru, and Guatemala. The company says that the test was successful and it has resulted in a decrease in password sharing.

Montana Faces Lawsuit from TikTok Creators, One Day After TikTok Ban

Anubhav — Fri, 19 May 2023 03:40:50 +0000

Montana’s recent move to ban TikTok within the state has ignited a legal challenge, raising constitutional questions and highlighting the ongoing national debate surrounding the popular social media app. The lawsuit filed by TikTok creators argues that the ban infringes upon their First Amendment rights and questions the state’s national security justification. This legal battle could have far-reaching implications.

The company stated its commitment towards defending its Users’ Rights

Montana’s ban on TikTok, signed into law by Governor Greg Gianforte, faces legal opposition from five TikTok creators. They argue that the ban is unconstitutional, violating their freedom of speech. The lawsuit challenges the state’s authority to advance foreign policy or national security interests and questions the notion of banning an entire communication platform. As the lawsuit unfolds, it will serve as a test case for the balance between state regulations and First Amendment rights.

We filed suit last night challenging Montana’s unconstitutional ban of TikTok, on behalf of 5 TikTok creators. Lead counsel is Ambika Kumar, who represented other creators in securing an injunction of President Trump’s 2020 ban.
https://t.co/p67xeT8w4A
— Davis Wright Tremaine LLP (@DWTLaw) May 18, 2023

Montana’s Attorney General, Austin Knudsen, anticipates that the legal challenges to the TikTok ban will require federal court intervention. The lawsuit’s outcome will influence the ongoing debate surrounding TikTok’s presence in the United States and potential nationwide bans. With the ban slated to take effect in 2024, the litigation may impact the timeline or even lead to the law being struck down. The case holds significance for the protection of user rights and app restrictions.

While TikTok has not commented on bringing its own litigation in Montana, the company stated its commitment to defending its users’ rights both inside and outside the state. The legal challenge in Montana serves as a microcosm of the larger national conversation surrounding TikTok, its Chinese ownership, and data security concerns. The outcome of this lawsuit could potentially shape the future landscape of app restrictions, user rights, and government regulation regarding technology companies operating in the United States.

Montana’s TikTok ban has set the stage for a legal battle that raises fundamental constitutional questions. As the case unfolds, it will influence the nationwide discourse on app restrictions, user rights, and national security concerns.

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TikTok Banned in the State of Montana, Becomes First US State to Do So

Anubhav — Thu, 18 May 2023 04:06:28 +0000

In a move that highlights the ongoing debate surrounding TikTok‘s presence in the United States, Montana recently became the first state to officially ban the popular social media app. Governor Greg Gianforte signed a bill into law, effectively prohibiting TikTok from operating within the state starting in 2024. However, this decision is likely to face legal challenges that could potentially delay its implementation. Montana’s ban serves as a preview of the complex landscape that future attempts to restrict or ban TikTok may encounter across the country.

The Ban will likely be enforced starting 2024

Under the new law, TikTok will be barred from operating in Montana, and app stores will be required to block users in the state from downloading the app. While individual users are not directly targeted by the ban, both TikTok and app stores face daily fines of $10,000 for non-compliance. This legislative move puts a spotlight on the potential clash between state regulations and the protection of First Amendment rights. The trial was ongoing for quite some time now. Check out our previous coverage of the same here.

TikTok swiftly condemned the Montana law, claiming that it infringes upon the First Amendment rights of its users. A spokesperson for TikTok emphasized the platform’s positive impact, empowering hundreds of thousands of people across Montana. They reassured Montanans that they can continue to express themselves, earn a living, and find community on TikTok. This statement highlights TikTok’s commitment to defending its users’ rights both within and beyond the state of Montana.

Montana lawmakers, like officials in other parts of the country, expressed concerns about TikTok’s ties to ByteDance, a Chinese company. They argue that the app’s Chinese ownership poses risks to the personal data of American users. TikTok has consistently denied any intent to share user data with the Chinese government and has made significant investments in addressing data security concerns. Despite these efforts, lawmakers believe more stringent measures are necessary. The US government has even attempted to force ByteDance to sell TikTok to an American company to mitigate these concerns.

Montana’s TikTok ban offers a glimpse into what the future might hold for the app in the United States. If TikTok fails to comply with US government demands to sever ties with its Chinese parent company, it could face a nationwide ban, likely leading to yet another protracted legal battle. As the national debate surrounding TikTok’s presence and data security concerns continues, the outcome of these legal challenges will significantly shape the future landscape of app restrictions and the protection of user rights.

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VP Kamala Harris Urges Tech Titans to Put Ethics First in AI Development

Anubhav — Fri, 05 May 2023 03:31:54 +0000

As part of the Biden administration’s ongoing efforts to fund AI research and hold companies accountable for their behaviour, Vice President Kamala Harris recently met with the CEOs of several tech giants. These included Alphabet (Google‘s parent company), Microsoft, OpenAI, and Anthropic. Harris discussed with them the importance of ensuring that private companies develop AI products that are safe and secure, and that they remain in compliance with current laws and regulations.

Harris used the 2016 Presidential Election as an example of Tech’s misuse

Harris noted that generative AI technologies like Bard, Bing Chat, and ChatGPT have the potential to both help and harm society. While these technologies can address some of our biggest challenges, there is also the risk that they could be used to violate human rights, create distrust, and weaken faith in democracy. Harris pointed to Russian interference during the 2016 presidential election as evidence that hostile nations will use tech to undercut democratic processes.

While generative AI has shown promise in fields like art, search, and writing, there are still concerns around accuracy, cheating, copyright violations, and job automation. Recently, IBM announced a pause on hiring for roles that could eventually be replaced with AI. As concerns around AI’s dangers continue to grow, industry leaders and experts have called for a six-month pause on experiments to address ethical issues.

To address these concerns, the National Telecommunications and Information Administration has called for public comments on potential rules for AI development. Harris’ meeting with tech CEOs sends a clear message that the government will not hesitate to take action against companies that do not act responsibly in the development of AI products. The regulation of AI has seen a strong push over the past few months, and it is only expected to be more strict over the coming months due to its rapid ongoing evolution.

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Walmart to Roll Out Thousands of EV Charging Stations Across US by 2030

Anubhav — Fri, 07 Apr 2023 03:43:42 +0000

A large electric vehicle (EV) charging network is important for several reasons. It allows EV owners to have the confidence to travel long distances without worrying about running out of charge. This is particularly important for those who rely on their vehicles for work or travel, and need to make frequent long trips. Secondly, a large charging network helps to promote the adoption of EVs, by making it more convenient and accessible for drivers. With more charging stations available, drivers are more likely to consider purchasing an EV as their primary mode of transportation. By providing a network of charging stations, drivers can be assured that they will be able to find a place to charge their vehicle when needed, thereby alleviating their fears about running out of charge. Amidst the rising popularity of Electric Vehicles in the United States, Walmart has announced that even more multiple locations of the billion-dollar shopping franchise will be equipped with EV charging stations in the near future.

This massive expansion plan by the company aims to be fully implemented by 2030, but the exact number of locations to be added to the network has not yet been disclosed by the company. Walmart currently operates 1,300 EV fast-charging stations in more than 280 retail stores and affiliated facilities, and this expansion is expected to provide even more accessibility for EV drivers.

In a statement by Vishal Kapadia, Senior Vice President of Energy Transformation at Walmart, he emphasized the importance of convenient access to on-the-go charging, which can help boost EV ownership even in rural areas. While the company is still looking for energy suppliers, it has confirmed that each participating store will receive four chargers, and energy prices will be kept low. The initiative is part of Walmart’s broader commitment to reducing its environmental impact, which also includes transitioning to electric vehicles for deliveries and achieving “zero emissions” for all supply chain vehicles by 2040.

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TSMC Production Plant in Arizona To Start Mass Producing 4nm Chips Next Year

Jeet — Mon, 20 Mar 2023 06:34:42 +0000

Taiwan Semiconductor Manufacturing Company, popularly known as TSMC, is setting up a new production plan in Arizona, United States at a cost of around $12 billion.

The plant was originally planned to manufacture 5nm chips but recently it was revealed that the plant will be making 4nm chips. Now, a new report from Taiwanese media claims that the production of 4nm chips in the Arizona plant could start next year.

According to the report from Economic Daily, TSMC’s new plant in Arizona will start producing 4nm chips from 2024. The report further adds that Qualcomm’s Global Senior Vice President and Chief Operating Officer Chen Ruowen said that Qualcomm will be the first customer of TSMC’s US plant’s 4nm chips.

It was earlier reported that AMD and NVIDIA were among the companies that urged TSMC to start making 4nm chips in the US. The development comes at a time when companies are now planning to source chips manufactured in the United States. Further, this new plant should also allow a whole host of new companies and jobs to appear in support of the manufacturing facility.

Apart from Qualcomm, Apple, AMD, and NVIDIA are also expected to place a large order for the chips manufactured by TSMC in the Arizona facility. In the second phase of the upgrade at the Arizona plant, TSMC will upgrade the facility to produce more advanced 3nm chips, which is likely to happen around 2026.

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Apple Starts Selling Refurbished iPhone 13 Models in the United States

Jeet — Tue, 14 Mar 2023 02:38:56 +0000

Apple launched the iPhone 14 series smartphone a few months back, and as soon as this new lineup was made available for purchase in the market, the company stopped selling some models of the previous generation’s iPhone 13 series.

Now, all the iPhone 13 series models except one are available for purchase but in refurbished versions from the Cupertino-based technology giant’s own online store in the United States.

Apple has today started selling refurbished iPhone 13, iPhone 13 Pro, and iPhone 13 Pro Max smartphones through its online store in the United States. The devices come at a discounted price, with the standard model costing $619, the Pro model being available at $759, and the Pro Max model priced at $849.

The Apple iPhone 13 lineup was first introduced in September 2021, and this is the first time the company started selling its refurbished versions in the United States. However, Apple started selling the refurbished version of this lineup in the European market earlier this year. As the 13 Mini refurbished option is being sold in Europe, we expect it to soon be available in the United States.

In the US, the company has introduced multiple color options and storage capacities for these smartphones, but the availability or stock may fluctuate as Apple sells what is available. All the refurbished iPhones come with new batteries, outer shells, and a new USB-C to Lightning cable in the box.

Biden Holds Emergency Announcement Tomorrow to Address US Banking Crisis

Leo Wong De Quan — Mon, 13 Mar 2023 02:09:11 +0000

After experiencing both the 2nd and 3rd largest US bank failures in history, the President of the United States, Joe Biden will hold an emergency announcement tomorrow morning (Washington Time) to address the current US banking crisis.

Silicon Valley Bank and Signature Bank Banking Crisis

As per Reuters, the news comes after the US government announced that it is taking actions to shore up deposits in the country and stem any broader financial fallout from the sudden collapse of both Silicon Valley Bank and Signature Bank.

The past 3 days saw 2 of the largest US bank failures in history – Silicon Valley Bank and Signature Bank. Signature Bank (SBNY) ranks 3rd in the list of largest US bank failures in history with $118 billion USD in assets at the time of failure in 2023, Silicon Valley Bank (SVB) ranks 2nd with $209 billion in assets in 2023, and Washington Mutual ranks 1st with $307 billion in assets in 2008.

The White House has issued a press statement stating that over the weekend, the US government has been working diligently with the country’s banking regulators to address problems at Silicon Valley Bank and Signature Bank. And a prompt solution of providing all depositors at these banks back their deposits, both insured and uninsured, will commence on Monday. It was mentioned that the solution also ensures that US taxpayer dollars are not put at risk.

And with all the concerns and complaints of the crisis ongoing, Joe Biden stated that he is “firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.”

On a closing note, the US President will deliver remarks on how the country will maintain a resilient banking system to protect its historic economic recovery tomorrow morning.

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Signature Bank Shut Down by US Authorities, 3rd Largest Bank Failure in History

Leo Wong De Quan — Mon, 13 Mar 2023 00:21:10 +0000

USA financial authorities were busy behind the scenes for the weekend, as it was announced today that New York regulators have shut down Signature Bank (SBNY) in the country. 118 billion USD of the bank’s assets was seized by the country’s Federal Deposit Insurance Corporation (FDIC) this morning, making it the third largest bank failure in US history, right behind the Silicon Valley Bank and Washington Mutual bank failure.

In a joint statement by the US Treasury, Federal Reserve, and FDIC, New York-based Signature Bank was closed due to systemic risks in the current economic climate. The bank is the 3rd US bank to be shut down this week, after the Silvergate and Silicon Valley Bank (SVB) collapse.

Investors and the general US public sentiment on the bank shut downs this week are very concerning, as Etsy sellers were receiving notices of delay of their payments, and US companies such as Roku and Silicon Valley tech startups were concerned about employee payrolls due to the unavailability of cash due to the collapse of the banks.

However, the joint statement announced that US Treasury Secretary Janet Yellen has approved exceptions to both Signature Bank (SBNY) and Silicon Valley Bank (SVB) today that allow the banks’ depositors to receive more than the 250,000 USD insured amount promised by FDIC on Monday.

The statement announces that depositors will have access to all of their money, including the uninsured amounts above the 250k limit, starting Monday, March 13 in the country. It was also highlighted that no losses associated with the resolution of Silicon Valley Bank will be borne by US taxpayers’ money.

It should be noted that the banks’ shareholders and certain unsecured debtholders will not be protected. Senior management of both banks has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by US federal law.

On a closing note, the US government has announced that “the U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry.”

Signature Bank (SBNY) ranks 3rd in the list of largest US bank failures in history with $118 billion USD in assets at the time of failure in 2023, Silicon Valley Bank (SVB) ranks 2nd with $209 billion in assets in 2023, and Washington Mutual ranks 1st with $307 billion in assets in 2008.

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Vox, Roblox, Unity, Roku and More American Corps Affected by SVB Bank Collapse

Leo Wong De Quan — Sat, 11 Mar 2023 23:13:31 +0000

Besides Etsy sellers affected by the sudden shut down of Silicon Valley Bank(SVB), many more American companies and businesses have revealed recently that they were affected by the collapse of SVB. Amongst those banking with SVB, the most notable are Vox Media, Roblox, Roku and Circle.

Affected American businesses by Silicon Valley Bank

Vox Media

Let’s start with the most famous one in tech circles, Vox Media. Vox Media is the parent company of The Verge – the popular online technology news outlet based in the United States, Vox – the viral American news and opinion website, and Polygon – the entertainment news website that covers news from the video game industry, as well as movies, comics, television and books.

The New York Times reported that Vox Media had a substantial amount of its operational cash in Silicon Valley Bank. The Vox Media personnel who was familiar with New York Times also told that Vox Media’s credit cards, which Silicon Valley Bank issued, had stopped working on Friday.

The personnel also claimed the company does not expect any disruption to its business yet, including payroll to its employees. Penske Media, Vox Media’s largest shareholder, said in a statement that it was ready if the company required additional capital but added that it didn’t foresee any issues for the time being.

Roblox

Roblox, the 21st century viral online game platform and game creation system, has also been affected by Silicon Valley Bank’s shutdown by regulators. According to Forbes, Roblox Corporation held 5% of its $3 billion in cash (150 million USD) at the bank. However, according to a filing, the video game company said SVB’s collapse will “have no impact” on its day-to-day operations.

Unity

Unity Technologies, the American video-game technology maker widely known for its video game engine, Unity, disclosed to authorities in the country today that the company held less than 5% of its cash and cash equivalents at Silicon Valley Bank and expects “minimal impact” from the bank’s collapse.

Unity Video Game Engine Logo

However, Unity Technologies has swiftly informed its video game publishers using Unity via email to swiftly update their payout institution from SVB to other banks before March 20, 2023 to avoid delays in payments.

Roku

Roku is an American corporation that offers Roku TV, its hardware digital media players, and a service of releasing streaming media content on its TV players.

Roku showed much concern in its SEC filing. The company reports that 487 million USD of its cash was within SVB, which is 26% of the company’s assets. What is more worrying is that Roku’s deposits with Silicon Valley Bank are largely uninsured. At this time, Roku does not know to what extent the company will be able to recover its cash on deposit at SVB.

Circle

American Cryptocurrency firm Circle, the owner of stablecoin USDC, had a massive 3.3 billion USD invested with Silicon Valley Bank, the company revealed in a tweet. That’s around 8 per cent of the company’s total $40 billion, which is held elsewhere.

Circle, stated in a statement, “Like other customers and depositors who relied on SVB for banking services, Circle joins calls for continuity of this important bank in the U.S. economy and will follow guidance provided by the state and Federal regulators.”

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Etsy Struggles to Pay Sellers On Time on Its Platform After SVB Collapse

Leo Wong De Quan — Sat, 11 Mar 2023 22:00:02 +0000

Etsy, the American e-commerce platform famous for DIY handmade or vintage items and craft supplies, is reportedly struggling to pay its sellers on time after the collapse of Silicon Valley Bank(SVB) yesterday.

Sellers on the Etsy platforms reported on Reddit and Twitter today that payments that were due to be credited to their bank accounts yesterday have not been credited by Etsy. In turn, Etsy has sent out an immediate email informing affected sellers, there is a delay in issuing payments to its sellers of the platforms, and the company is currently working with its other payment partners to resolve the matter as soon as possible.

No concrete day or date was mentioned for how long the delay would last, so it is assumed that Etsy sellers’ funds they earned from selling their products on the website have been withheld by Etsy indefinitely. Thus, this is the first major effect of the SVB bank collapse that has impacted the general American consumer market.

Upon receiving the email, sellers were expressing their concern and anger on social media. Some sellers also went out to report the Etsy payment delays to news outlets such as NBC News, claiming that the Etsy delays will have a “catastrophic effect” on their business.

NBC quotes American small business owner, Owen McKinney, who runs Kentucky Country Home laser engraving business, that he relies on Etsy’s deposits to pay for items like shipping costs and materials. Because of the Etsy delay, he had already reached out to one of his suppliers to delay an order for materials that he needed for next week.

As per official info online until 31 December 2022, Etsy had over 100 million items in its marketplace and the online marketplace for handmade and vintage goods connected 7.5 million sellers with 95.1 million buyers. In the fiscal year of 2022, Etsy garnered revenue of US$2.6 billion and registered a net loss of US$694 million, as a blitz scaled tech startup.

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Silicon Valley Bank Liquidated, Biggest Bank Failure Since 2008 Global Financial Crisis

Leo Wong De Quan — Fri, 10 Mar 2023 20:18:35 +0000

US banking regulators on Friday issued an immediate notice on Friday, stating that Silicon Valley Bank, one of the country’s largest banks, has its operations shut down by Californian authorities, and the bank’s assets have been seized and taken over by the country’s Federal Deposit Insurance Corporation (FDIC).

Image Source: Reuters

Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. The bank’s customers and depositors are mostly consisted of technology workers in the US, tech startups in Silicon Valley and venture capital-backed companies. The bank used to operate from 29 offices in the United States and from offices in India, the United Kingdom, Israel, Canada, China, Germany, Hong Kong, Ireland, Denmark, and Sweden.

As reported by CNBC, the Silicon Valley Bank bank run is the largest US bank failure since the 2008 global financial crisis that happened more than a decade ago. The interference from regulators comes shortly after the shares of SVB were halted on Friday after tumbling as much as 66% in premarket trading.

FDIC, the organisation tasked to handle the bank’s closure, has stated that it has created the Deposit Insurance National Bank of Santa Clara, which now holds the insured deposits from SVB. The press release also mentions SVB’s official cheques will continue to clear. The main office in Santa Clara and all branches of Silicon Valley Bank will reopen on March 13 Monday and all insured depositors will have full access to their insured deposits no later than Monday morning.

For context, the FDIC’s standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category. It is unclear exactly how larger accounts or credit lines for companies will be impacted by the closure.

The FDIC said it would seek to liquidate SVB’s assets and that future dividend payments may be made to uninsured depositors. Uninsured depositors will be receiving an advanced dividend within the next week, with potential additional dividend payments as the regulator gradually sells SVB’s assets.

CNBC reports that the closure of SVB would impact not only the deposits but also credit facilities and other forms of financing. The FDIC said loan customers of SVB should continue to make their payments as normal.

United States of America Treasury Secretary Janet Yellen said during testimony to the House Ways and Means Committee on Friday morning that she was “monitoring very carefully” developments at a few banks in the country. Yellen made her comments before the FDIC took over SVB.

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Signature Bank Shut Down by US Authorities, 3rd Largest Bank Failure in History

Vox, Roblox, Unity, Roku and More American Corps Affected by SVB Bank Collapse

Etsy Struggles to Pay Sellers On Time on Its Platform After SVB Collapse

Silicon Valley Bank Liquidated, Biggest Bank Failure Since 2008 Global Financial Crisis