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<keyword id="19986399" type="General" weightage="20" keywordseo="Tata-Electronics" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Electronics" meta.hostid="261" meta.entityid="Tata Electronics">Tata Electronics</keyword> on Thursday said it has concluded an agreement with Taiwan-based Powerchip <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">Semiconductor Manufacturing</keyword> Corporation, which will provide technology support for the Dholera wafer fab of the Indian tech major. As per the agreement, PSMC will provide design and construction support to build India's first AI-enabled greenfield fab in Gujarat, license a broad portfolio of technologies and provide engineering support to the fab unit. "We are pleased to partner with PSMC, whose technology and expertise will significantly accelerate our roadmap to pioneer semiconductor manufacturing in India. It will position us to play a key role in the growing semiconductor market to serve global customers," Tata Sons Chairman N Chandrasekaran said. The company is setting up a chip manufacturing unit in Dholera at an investment of up to Rs 91,000 crore ( about USD 11 billion). "<keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>'s multi-fab vision for Dholera is projected to create over 1,00,000 skilled jobs," the statement said. Tata Electronics' Dholera-based Fab will have a manufacturing capacity of up to 50,000 wafers per month. "This partnership represents a win-win situation, as it positions PSMC and the Taiwanese ecosystem to gain a significant first-mover advantage in the rapidly expanding Indian market while helping India achieve self-reliance in semiconductor manufacturing," Powerchip Group, Chairman and CEO of PSMC, Frank Huang said. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank">Airtel is using AI-powered technology to block spam calls and messages</a><a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms" target="_blank">Diffusion Engineers IPO quick review – IPO GMP, risk factors and more</a><a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms" target="_blank">Manba Finance IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Tata Electronics, PSMC conclude pact for ₹91,000 crore Dholera chip manufacturing unit

<ul class="summary-list"><li>Taiwan Semiconductor Manufacturing Company just reported a 54% rise in third-quarter net profit.</li><li>TSMC's growth was driven by strong demand for artificial intelligence technology.</li></ul>Chip giant <a target="_blank" class="" href="https://investor.tsmc.com/english/encrypt/files/encrypt_file/reports/2024-10/d00bfb55ffe01e36f56863f975e88d827f9943e8/3Q24EarningsRelease.pdf">Taiwan Semiconductor Manufacturing Company</a> just reported strong growth, thanks to continued enthusiasm for artificial intelligence — even amid persistent questions over the <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">return on investment</a> from the technology.TSMC, the world's largest contract chipmaker, reported a forecast-beating 54% rise in third-quarter net profit to a record 325.3 billion New Taiwan Dollars, or $10.1 billion. Analysts had expected the company to post a profit of 300.2 billion New Taiwan dollars, according to LSEG SmartEstimate.The chipmaker's third-quarter revenue rose 36%, to $23.5 billion, which also beat its previous forecast of $22.4 billion to $23.2 billion. The company is forecasting fourth-quarter revenue of $26.1 billion to $26.9 billion — up from $19.6 billion in the same period last year.The Taiwanese company's blockbuster results came after Dutch chip equipment maker ASML — a supplier to TSMC — reported guidance on Tuesday that disappointed investors and triggered a sell-off in chip stocks.One of first questions at TSMC's Thursday analysts' earnings call was whether there's an AI bubble.CC Wei, TSMC's chairman and CEO, said that the demand for AI "is real."Wei said TSMC's experience in using AI and machine learning in its fabs and R&amp;D operations has enabled greater productivity — a tangible return on investment."We cannot be the only one company that has benefited from AI applications," said Wei, adding that the demand trend has just started.TSMC's share price in Taiwan closed 0.96% lower on Thursday, but the stock is up nearly 75% this year-to-date and near its all-time high.TSMC's strong Q3 results show the AI spending party is still on, despite fears to the contrary.As Goldman Sachs asked in a June <a target="_blank" rel=" nofollow" href="https://www.goldmansachs.com/intelligence/pages/gen-ai-too-much-spend-too-little-benefit.html">report:</a> "Will this large spend ever pay off?"In August, AI chipmaker <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-q2-earnings-ai-investors-expectations-2024-8">Nvidia</a> sparked jitters in the market when its earnings beat estimates but did not meet lofty market expectations amid nervousness over the return on AI investments.TSMC investors appear to be convinced immediately after its earnings call. <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsm-stock">TSMC</a> American Depositary Receipts on the New York Stock Exchange jumped over 7% in after-hours trade following its earnings announcement.<h2 id="92427aba-6a9e-4936-bd87-7b6ffc4a688e">ASML: China demand is normalizing from a high</h2>TSMC's upbeat results contrasted with those from <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10">ASML.</a>On Tuesday, the company slashed sales guidance for 2025, sending its stock down 16% in its largest single-day drop in 26 years. The stock extended losses on Wednesday to close 5.1% lower and was 7% lower year-to-date."While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover," Christophe Fouquet, the CEO of ASML, said in a <a target="_blank" class="" href="https://www.asml.com/en/news/press-releases/2024/q3-2024-financial-results-dd3ac76a9d4d0f8c">statement on Tuesday.</a>On Wednesday, Roger Dassen, ASML's CFO, said US export restrictions are also expected to contribute to lower sales going forward."We all read newspapers, right? We all see that there is speculation around export control. That is a driver for us to take a more cautious view on the China sales," said Dassen.China is an important ASML customer, accounting for around a quarter of its total net sales <a target="_blank" class="" href=" https://edge.sitecorecloud.io/asmlnetherlaaea-asmlcom-prd-5369/media/project/asmlcom/asmlcom/asml/files/investors/financial-results/a-results/2023/2023-annual-report-based-on-us-gaap-m7rf6.pdf">in 2023</a> — even though ASML has never sold its most advanced chip machines to Chinese customers, due to existing export restrictions.China has been <a target="_blank" class="" href="https://www.businessinsider.com/china-imports-trade-war-biden-tariffs-chips-demand-economy-2024-8">stockpiling tech products,</a> including ASML machines, in anticipation of more export restrictions. But ASML still expects sales to China to drop to one-fifth of its total revenue next year, which Dassen said is "normal."It's "entirely reasonable" for ASML to have some adjustments to its guidance because its guidance range for 2025 was made during its Investor Day in 2022, Andy Li, a senior analyst for semiconductors and tech at CreditSights, told Business Insider.But it doesn't mean AI demand is fizzling."I don't think you can view this as having meaningful read-through to near-term demand for AI, though order growth expectations for ASML were a bit too aggressive and valuation stretched," said Li.

Chip giant TSMC reports blockbuster results even as questions over AI mania loom 

<ul class="summary-list"><li>Is AI going to make tech firms big returns? Investors will soon find out.</li><li>This week, Amazon, Apple, Meta, and Microsoft all report earnings.</li></ul>For a while now, AI stocks have seemingly had the ability to defy gravity. We're about to find out if they can do that for much longer.This week, tech companies central to the generative AI boom, including Amazon, Apple, Microsoft, and Meta, report earnings at a time when the market rally they've helped drive teeters on the brink of a correction.In recent weeks, US markets have suffered, with the S&amp;P 500 enduring its worst day since 2022. The tech-heavy Nasdaq-100 was also down, off the back of quarterly results from Tesla and Google parent company Alphabet that suggested AI was far from delivering returns that match the hype.Tesla, which has delayed its reveal of AI-enabled robotaxis to October, reported a <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-7">45% slump in net income to $1.47 billion</a> in its latest quarter, falling well short of analyst expectations.<a target="_blank" class="" href="https://www.businessinsider.com/ai-hype-train-profits-valuations-startups-google-openai-2024-7">Google</a>, on the other hand, reported a 13.5% year-on-year quarterly revenue jump to $84.7 billion, but its chief executive Sundar Pichai left investors guessing how much of its huge capital expenditure on AI chips, data centers, and more was translating into returns.If its Big Tech peers also struggle to tell investors that AI isn't just sucking up cash, we might see the AI rally lose some steam.<h2 id="da00f2f0-7b49-463b-82f1-131872f77c0f">AI hype faces a major test</h2>The rationale behind why AI stocks have been able to defy gravity is pretty simple.Companies across Silicon Valley directing the vast majority of their time, resources, and investment toward generative AI have talked up the technology as something that will shake up the lives of industries and consumers for the better.Nvidia CEO Jensen Huang, whose company's chips help power the large language models behind AI applications like ChatGPT, <a target="_blank" href="https://blogs.nvidia.com/blog/computex-2024-jensen-huang/">said last month</a> that "generative AI is reshaping industries and opening new opportunities for innovation and growth."Meanwhile, when Apple revealed its AI platform, Apple Intelligence, last month, its CEO Tim Cook described it as a <a target="_blank" href="https://affiliate.insider.com?h=804def9144f599c5965dbb0cf332c4fd34e1f082c05c222f714b273805d0e77c&amp;postID=66a789d86550c8ac4ef37be1&amp;postSlug=big-tech-meta-microsoft-google-ai-earnings-investor-2024-7&amp;site=bi&amp;u=https%3A%2F%2Fwww.apple.com%2Fuk%2Fnewsroom%2F2024%2F06%2Fintroducing-apple-intelligence-for-iphone-ipad-and-mac%2F">"new chapter in Apple innovation"</a> that will "transform what users can do with our products — and what our products can do for our users."For some time, investors have bought this kind of rhetoric. Since March, gains in the S&amp;P 500 have been driven by chip firms like Nvidia and the so-called "Fab Five" AI Big Tech stocks, including Alphabet, Amazon, Apple, Microsoft, and Meta.They have done so while acknowledging that AI is an expensive technology to develop. The costs of infrastructure and research are heavy, as Google attested to last week as it reported capital expenditure in its last quarter almost doubled year-on-year to $13 billion.But heavy expenditure without any signs of returns on the horizon won't cut it for much longer, as Google could also attest to.In Amazon's case, that will mean showing some positive noise and substance around its work on its own AI chips, called Trainium, as well as growth in its cloud business integral to customers who need computing power to train AI models.Apple will face less pressure as the impact of Apple Intelligence on sales of iPhones, iPads and Macs will only start to come to light once the AI platform begins its rollout towards the end of this year.Meta's Mark Zuckerberg will likely face questions again about the company's AI spend, as he did at its last earnings, after raising guidance for the year's capital expenditure from around $37 billion to $40 billion.Microsoft's Satya Nadella, which as invested billions of dollars into its partnership with OpenAI, will also face questions about how its AI tools like Copilot are fairing. There are strong expectations among some that tech firms will generate returns in the long run. In a research note last week, Wedbush analyst Dan Ives wrote that while the sell-off last week was "brutal," this was "not the end of this tech bull run."That may be so, but there's no denying that tech firms are spending a lot of money in the name of AI. Those betting big on them will want to see that investment pay off sooner rather than later.

Big Tech is preparing to report its earnings. The results could make or break the AI rally.

<ul class="summary-list"><li>ForwardPMX, a performance marketing agency that is part of Mark Penn's Stagwell Group, acquired Headliner Labs, a startup that creates chatbots and voice-activated ecommerce tools.</li><li>Caroline Klatt and Dana Gibber founded Headliner Labs to meet growing demand for chat and voice products from retailers like Cole Haan and Sally Beauty.</li><li>As privacy laws and Google's decision to phase out third-party cookies take effect, marketers are looking for other ways to gather data and manage consumer relationships.</li><li>Terms of the deal were not disclosed, but Headliner will immediately become part of the agency, which has about 1,000 people in 25 offices around the world.</li><li><a href="https://www.businessinsider.com/prime">Click here for more BI Prime stories.</a></li></ul>Digital marketing agency ForwardPMX, part of former political advisor <a href="https://www.businessinsider.com/mark-penn-mdc-partners-moving-nyc-world-trade-freedom-tower-2020-2">Mark Penn's private equity-backed Stagwell Group</a>, acquired Headliner Labs, a Silicon Alley startup that creates chatbots and other mobile commerce tools.The acquisition is effective immediately. Terms were not disclosed.Headliner Labs CEO Caroline Klatt and chief operating officer Dana Gibber, told Business Insider the deal came in response to increasing demands for AI chat and voice-enabled search options from major clients like Kenneth Cole, Saks Fifth Avenue, Cole Haan, Sally Beauty, and Paramount Pictures.Gibber and Klatt, who used to lead strategy and operations at Fab.com, will lead ForwardPMX's voice and chat practice, providing consulting services and helping build the products themselves.<h2>As retail goes mobile, more clients want bots and other tech tools to drive sales and collect consumer data</h2>Gibber and Klatt said they founded Headliner Labs after seeing an opportunity in consumers having conversational interactions with brands while on mobile devices.The startup works across platforms including Facebook Messenger, Amazon Alexa, Google Home, WhatsApp and Snapchat. A ForwardPMX spokesperson said clients made about $50 million in revenue using Headliner Labs products in 2019.As privacy laws take effect and <a href="https://www.businessinsider.com/advertisers-are-panicking-over-googles-plan-to-ditch-cookies-2020-2">tech giants like Apple and Google</a> limit marketers' ability to target ads, Klatt said brands would increasingly need to collect and own their customers' data. She said chatbots are valuable to clients because, in addition to running automated direct marketing campaigns, they can collect data that will be increasingly relevant as cookies go away.And Divya Gugnani, CEO of Wander Beauty, a Headliner Labs client, said conversion rates on direct marketing campaigns were three times higher than standard paid social media efforts in 2019.<h2>Voice is still a fringe practice for agencies, but client demand will keep growing</h2>Klatt and Gibber said brands are increasingly asking digital agencies for help taking advantage of voice-activated devices. While the tech remains in its infancy, brands are already trying to make sure their names come up when people use the devices to make buying decisions."We're not so far off from a time when you can ask your refrigerator what you need and have your refrigerator order it," Gibber said.As evidence of top marketers' interest, the executives said almost all of their clients have come from events where they discuss voice technology.Klatt said Stagwell Group got to know Headliner Labs because it worked with several of the same retail companies as ForwardPMX.ForwardPMX formed from a March 2019 merger of search firm PMX Agency and Forward3D, which specialized in direct marketing campaigns. In December 2019, ForwardPMX acquired appropriately named SEO firm The Search Agency.Stagwell Group was founded in 2015 by Penn, the longtime political insider and former Microsoft marketing executive. Its portfolio includes such names as politically-connected PR firm SKDKnickerbocker, design agency Code and Theory, and Republican strategy firm Targeted Victory.

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Tata Electronics, PSMC conclude pact for ₹91,000 crore Dholera chip manufacturing unit

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Chip giant TSMC reports blockbuster results even as questions over AI mania loom

Huileng Tan

Big Tech is preparing to report its earnings. The results could make or break the AI rally.

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Mark Penn's Stagwell Group snapped up startup Headliner Labs to help clients take advantage of buzzy retail tech

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