Marvell Technology, a leading US chip manufacturer, has announced it will raise prices across its entire product line starting January 1, marking the first major price increase in the optical communications sector. This decision comes after Marvell’s strong financial performance last quarter, driven by the surging demand for AI-related products, including ASICs and silicon photonics for data centres. The price hike is seen as a way to capture new market opportunities and support ongoing investments in innovative technologies.
A leaked notification letter from Marvell’s Senior Vice President of Global Sales, Dean Jarnac, revealed that the global demand for AI and accelerated computing is pushing companies like Marvell to expand production capacity and invest in new manufacturing bases. Jarnac emphasised that the price increase is necessary to support these investments, but assured customers that the impact would be minimised and encouraged them to plan their orders accordingly.
Marvell’s recent growth has been fueled by booming demand in the AI space, particularly in its data centre business. Key products such as 800G PAM and 400ZR optical solutions have been central to this success. Marvell’s CEO Matt Murphy highlighted the company’s optimistic outlook, expecting continued revenue growth in the coming quarter as demand for AI and data centre solutions continues to rise.
Japan’s Democratic Party for the People (DPP), led by Yuichiro Tamaki, has announced a plan to lower the tax on cryptocurrency gains to 20% if elected. In a recent post on X, Tamaki outlined that crypto assets should be taxed separately, contrasting the current regime where gains can be taxed up to 55% as ‘miscellaneous income.’ The DPP aims to treat digital assets similarly to stock market profits, which are taxed at a maximum of 20%.
The party’s proposals also include measures to enhance the token economy in Japan, promoting the use of non-fungible tokens and cryptocurrencies to invigorate the economy. Tamaki indicated that trading crypto assets would not incur tax liabilities under their plan, emphasising the need to foster a robust web3 business environment in Japan.
Additionally, the DPP intends to introduce cryptocurrency exchange-traded funds and enhance leverage in trading from two-fold to ten-fold. The proposal includes the introduction of digital regional currencies by local governments to stimulate local economies. Despite these ambitious plans, recent surveys suggest that the DPP may struggle to gain traction in the upcoming elections, as the ruling Liberal Democratic Party maintains a strong lead in voter support.
Indian AI startup Neysa has raised $30 million in a Series A funding round, aiming to compete with global hyperscalers like AWS and Google Cloud. Led by Sharad Sanghi, Neysa offers AI infrastructure and machine learning platforms, catering to businesses seeking flexibility in AI solutions. The startup focuses on both public cloud and private clusters, differentiating itself by using open-source platforms with no client lock-in.
Neysa plans to use the new funding to enhance its infrastructure, expand research and development, and introduce new products, including a developer platform and inference-as-a-service. Since launching its flagship platform Velocis in July, the Mumbai-based company has grown to 12 paying customers across industries like banking and media, with 70% opting for private clusters. The startup expects to enter global markets in the coming months, with additional funding already in the works.
Neysa’s rise reflects the growing demand for AI infrastructure in India, where the market is projected to reach $17 billion by 2027. With fresh capital and plans for expansion, Neysa is positioning itself as a significant player in the AI space, both in India and abroad.
Australia’s corporate regulator has charged Grant Colthup, the former CEO of Mine Digital, with fraud involving a A$2.2 million transaction. The Australian Securities and Investments Commission (ASIC) claims that a customer paid this amount to ACCE Australia, which operated the crypto exchange, to purchase Bitcoin in July 2022. However, the customer allegedly received no cryptocurrency in return.
ASIC alleges that Colthup used the funds to cover ACCE’s liabilities or acquire cryptocurrency for others. Mine Digital, active from 2019 to 2022, shut down following financial issues. Investigations revealed that the company had only A$20,000 in assets, far below the A$16 million owed to creditors.
The charges come amid ongoing scrutiny of the collapsed exchange and growing concerns over the accountability of cryptocurrency platforms. Colthup’s case sheds light on the challenges of regulating the digital asset sector and ensuring transparency.
The Magistrates Court in Ipswich will hear the case next on 16 December 2024. Legal proceedings are expected to explore Colthup’s role and whether funds were misappropriated to benefit others.
The US Commerce Department has announced plans to award $325 million to Hemlock Semiconductor to expand its production of semiconductor-grade polysilicon. The funding is part of a larger effort to shift and strengthen the United States chip supply chain.
The grant, from the $52.7 billion semiconductor manufacturing and research subsidy programme, will support the construction of a new facility in Hemlock, Michigan. Commerce Secretary Gina Raimondo stressed the importance of a reliable source of polysilicon for manufacturing semiconductors, which are critical to the nation’s economic and national security.
Hemlock Semiconductor, a joint venture of Corning Inc and Shin-Etsu Handotai, is making a significant investment in advanced technologies to maintain its position as a leading supplier to the semiconductor market. The expansion aligns with the Biden administration’s broader plan to boost domestic chip production through grants to major companies.
The administration has already announced preliminary awards totalling $36 billion from the $39 billion set aside for manufacturing subsidies. While only one grant has been finalised, officials expect more deals to be concluded by the end of the year.
The Indonesian Commodity Futures Trading Regulatory Agency, known as Bappebti, has extended the deadline for crypto exchanges to secure their Physical Crypto Asset Traders licenses until the last week of November 2024. This extension is part of a revised government bill, Bappebti Regulation Number 9 of 2024, which only applies to crypto exchanges already listed as Prospective Crypto Asset Physical Traders.
Under the new regulations, crypto exchanges must establish partnerships with local government bodies and implement Know Your Transaction standards while providing trading opportunities for institutional entities. Oscar Darmawan, CEO of INDODAX, one of Indonesia’s leading crypto exchanges, welcomed the extension, stating that it will strengthen the industry by ensuring compliance with the new standards.
The revised bill also expands eligibility for digital asset trading to include legal and business entities, not just individuals. Furthermore, licensed exchanges must partner with the Directorate General of Population and Civil Registration and list on the National Crypto Asset Futures Exchange to avoid having their licenses revoked. Bappebti aims to create a robust and transparent crypto ecosystem that meets the dynamic market needs.
The United States Federal Trade Commission (FTC) has introduced a rule banning the creation, purchase, and dissemination of fake online reviews, ensuring that testimonials are genuine and trustworthy. That includes reviews attributed to people who don’t exist, those generated by AI, or individuals with no real experience with the product or service.
The rule empowers the FTC to impose civil penalties on businesses and individuals knowingly engaging in such deceptive practices, holding violators accountable. By cracking down on fake reviews, the FTC protects consumers from being misled and ensures they can make informed purchasing decisions.
That initiative also promotes fair competition by penalising dishonest companies and supporting those operating with integrity, fostering a transparent and competitive marketplace. Additionally, the FTC’s rule goes beyond fake reviews by prohibiting businesses from using manipulative tactics such as unfounded legal threats, physical intimidation, or false accusations to influence their online reputation.
These measures prevent companies from using unethical strategies to control public perception, ensuring that business reputations are based on genuine consumer feedback, not coercion or deceit. The FTC aims to create a market environment that values honesty and fairness through this comprehensive approach.
Qualcomm is integrating advanced AI technology from its laptop processors into mobile phone chips. The new Snapdragon 8 Elite chip introduces improved capabilities for generative AI, such as producing images and text.
The chip incorporates Qualcomm’s Oryon custom computing technology, originally developed by engineers who joined the company from Apple in 2021. This innovation aligns with the company’s broader effort to push AI features across various platforms.
Developers will benefit from enhanced tools that complement existing Android functionalities, allowing deeper use of the Snapdragon chip’s AI capabilities. Qualcomm aims to distinguish its approach from Google’s rapid developments in AI by offering unique technologies to app creators.
Major companies, including Samsung, Xiaomi, and Asustek, are set to integrate Qualcomm’s latest chips into their devices. This marks another step in the company’s strategy to remain a leader in mobile computing and AI solutions.
Members of Argentina’s cryptocurrency industry have voiced their concerns regarding a new draft that seeks to impose restrictions on crypto institutions. The Argentine securities regulator (CNV) has announced a public consultation for a draft aimed at regulating virtual asset service providers (VASPs), which would require institutions to register with a minimum capital amount to operate within the country.
If approved, the proposed regulations would mandate crypto companies to disclose their agreements with third parties and customers while also establishing measures to combat money laundering and terrorism financing. CNV President Roberto Silva has emphasised that the intention is to balance regulation with the need for innovation within the sector.
A notable aspect of the draft is the proposed minimum capital requirement of nearly $173,000 for institutions involved in the transfer, custody, and management of virtual assets. While individual users will still be able to engage in fiat-to-crypto and crypto-to-crypto exchanges without forming a company, industry members caution that the regulations must be conducive to growth.
Industry leaders like Carlos Peralta of Bitso Argentina and Juan Pablo Fridenberg of Lemon have expressed support for regulations that encourage local exchanges to operate efficiently, highlighting the importance of a thoughtful approach to regulation that avoids driving users to unregulated markets.
The European Union has joined forces with venture capital firms to boost investment in the region’s tech sector, aiming to compete with the more advanced industries in the US and China. The new initiative, called the “Trusted Investors Network,” involves 71 investors managing over €90 billion in assets, focused on supporting European deep-tech companies.
This collaboration follows recommendations from a report by former European Central Bank chief Mario Draghi, which highlighted the need for swift, large-scale investments in critical technologies to ensure Europe’s global competitiveness. The initiative addresses concerns that Europe is lagging behind in tech innovation, particularly compared to the US, where AI deals have significantly boosted venture capital activity.
The EU hopes that this partnership will inject much-needed funding into Europe’s tech industry, encouraging faster growth and helping the region keep pace with global competitors.
