Chipmaker GlobalFoundries Prices IPO At Upper End To Raise $2.6 Billion -sources

Chipmaker GlobalFoundries Inc on Wednesday sold shares in its initial public offering at $47 a piece, at the higher end of its targeted price range, to raise about $2.6 billion, people familiar with the matter said.

from Top Tech News- News18.com https://ift.tt/2ZySYuQ

Comments

Post a Comment

Popular posts from this blog

India Inc's AI moment: Over 59 per cent enterprises have deployed AI, says IBM report

A recent study commissioned by IBM sheds light on the rapid integration of artificial intelligence (AI) within Indian enterprises, with findings indicating that a significant majority, totalling 59 per cent, have actively implemented AI strategies into their operations. According to Sandip Patel, Managing Director of IBM India & South Asia, the surge in AI adoption underscores the tangible benefits experienced by businesses leveraging this technology. Despite this positive momentum, Patel emphasizes the need for a more extensive embrace of AI at scale, highlighting a lingering hesitancy among some enterprises to transition beyond experimental phases. Crucially, Patel underscores the importance of robust data and AI governance tools in ensuring responsible AI model development. Without such measures in place, enterprises risk exposure to various challenges, including data privacy breaches, legal entanglements, and ethical dilemmas. The IBM Global AI Adoption Index, conducted in c...
Read more

32,000 employees already laid off in 2024, tech companies to terminate more, warn experts

The tech sector has kicked off 2024 with another round of job reductions, further scaling back following widespread layoffs in the preceding year. According to Layoffs.fyi, a startup monitoring industry job cuts since the onset of the pandemic, approximately 32,000 tech professionals have been displaced so far this year. Founder of Layoffs.fyi, Roger Lee, explained that tech firms are still adjusting their workforce sizes in response to over-hiring during the pandemic surge, exacerbated by prolonged economic challenges and a downturn in the tech sector. Lee identified two primary waves of job cuts: the initial spike coinciding with the early stages of the Covid-19 pandemic, and a subsequent trend beginning in the second quarter of 2022, influenced by rising interest rates. While this year’s layoffs are characterised as more targeted and smaller in scale compared to those of the previous year, economic factors remain the driving force behind these decisions. Additionally, companies ar...
Read more

India tops Snapchat’s Digital Well-Being Index, 60% of parents check if their kids are safe online

In an era where online safety is paramount, especially for young users, Snap Inc. has released its second edition of the Digital Well-Being Index (DWBI), shedding light on the psychological well-being of Gen Z online. The report, which surveyed 9,100 respondents across Australia, the UK, the US, France, Germany, and India, underscores India’s leading position for the second consecutive year. The report also suggests that at least 60 per cent of Indian parents are well aware of online safety issues and routinely check in on their children and their online activities. According to the DWBI findings, India secured an impressive overall score of 67, with a notable emphasis on parent-child engagement in online safety practices. Over 82 per cent of Indian parents turn to their teenage children for technical assistance, reflecting a strong bond and open communication channels within families. Moreover, 60 per cent of Indian teens actively seek guidance from their parents when confronted wit...
Read more