In August 2023, Powerchip Semiconductor Manufacturing Corp (PSMC) announced a partnership with Japan’s SBI to build a chipmaking plant in Japan. However, the plan was halted last Friday, with reports suggesting that PSMC’s declining financial performance may be the cause. PSMC has denied these claims, stating that the decision to terminate the collaboration is unrelated to its financial situation.
PSMC explained that its collaboration with SBI was structured around the Fab IP model, which involves offering consulting services, personnel training, and technology transfer in exchange for service fees and royalties. The company does not plan to invest in or oversee the operations of the new factory. After the board confirmed the termination of the partnership, PSMC dispatched representatives to Japan’s Ministry of Economy, Trade and Industry (METI) to clarify the situation and has informed SBI Holdings of the decision.
Reports indicate that PSMC opted not to assume the risks tied to the project, resulting in the dissolution of their partnership to build the facility in Miyagi Prefecture. This plant was projected to start mass production by 2027, specialising in automotive semiconductors with an estimated investment of ¥800 billion. Despite these challenges, SBI intends to proceed with the project by searching for new partners.
Notably, this decision comes after PSMC recently announced its intention to supply technology for a new chip plant in India, in partnership with Tata Group. The company has signed an agreement to assist in constructing India’s first 12-inch wafer fab in Dholera, Gujarat, which will employ mature process technologies and provide training for local workers. This USD 11 billion facility is expected to have a monthly capacity of 50,000 wafers and create over 20,000 high-tech jobs in the region.
Manchester has officially opened the first phase of a £1.7 billion ($2.3 billion) hub designed for science and technology companies. This initiative called the ‘Sister’ innovation district, is located on the University of Manchester’s former North Campus and aims to provide 2 million square feet of commercial space along with 1,500 new homes, enhancing the city’s reputation as a science and tech centre.
The Sister project is a collaboration between the University of Manchester and Bruntwood SciTech, alongside Legal and General and the Greater Manchester Pension Fund. Over 15 years, it has sought to attract private investment to improve public services and infrastructure in the UK. The first tenant, Sustainable Ventures, a climate tech investment firm, will move into the Renold Building in November.
Bev Craig, leader of Manchester City Council, described the opening as a significant moment for the city. The Sister district is included in the government-funded Greater Manchester Investment Zone, which allocates £160 million in public funds to attract businesses over the next decade. Plans for the first major development zone within Sister are expected to be announced soon.
Alphabet plans to invest $3.3 billion in South Carolina to establish two new data centres, according to CEO Sundar Pichai. This investment comes as the Google parent company and its competitors significantly enhance their infrastructure to support the growth of AI applications. The new data centre campuses will be located in Dorchester County, alongside an expansion of an existing facility in Berkeley County, as confirmed by the South Carolina governor’s office.
The new facilities in Dorchester County, located in the Pine Hill Business Campus in Ridgeville and Winding Woods Commerce Park in St. George, represent a $2 billion investment and are anticipated to create 200 operational jobs. Additionally, the expansion in Berkeley County will require another $1.3 billion investment. In July, Alphabet reported capital expenditures of $13 billion for the June quarter and indicated that spending would remain at or above $12 billion for the rest of 2024.
This announcement comes on the heels of Microsoft’s recent partnership with BlackRock and the Abu Dhabi-backed investment firm MGX to establish a fund exceeding $30 billion, focused on developing AI infrastructure, including the construction of data centres and energy projects.
Samsung has revealed the new Galaxy S24 FE, expanding its flagship series. The fan edition boasts the same Galaxy AI capabilities seen in earlier models, allowing users to utilise features like search, translate, and note assistance.
The smartphone is equipped with a 6.7-inch Dynamic AMOLED 2X display, offering a refresh rate of 60-120 Hz. Photography is enhanced with a 50 MP main camera, supported by a 12 MP ultrawide lens and an 8 MP telephoto sensor. A 10 MP selfie camera completes the lineup.
Running on the Exynos 2400e processor, the Galaxy S24 FE comes with 8 GB of RAM and up to 256 GB of storage. It operates on One UI 6.1 based on Android 14, powered by a 4,700 mAh battery supporting both wired and wireless charging.
Pre-orders for the Galaxy S24 FE are available now in Blue, Graphite, and Mint, with prices starting at £585 for the base model and £645 for the higher storage variant.
Kajeet, a leading provider of managed IoT connectivity solutions, and Mission Telecom, a non-profit organisation dedicated to providing affordable and reliable broadband and investing in a movement of systemic change, collaborate to deliver transformative connectivity solutions that empower underserved communities nationwide. By harnessing the innovative capabilities of Kajeet’s Sentinel platform alongside Mission Telecom’s unlimited broadband access services, the partnership aims to bridge the digital divide and ensure that essential internet access reaches those who need it most.
Furthermore, Kajeet will soon equip Mission Telecom with mobile device management, policy enforcement, wireless data usage control, network security, and advanced analytics. As a result, this will enable increased access to educational resources, job-seeking tools, and opportunities for economic growth, ultimately enhancing the vital services provided to nonprofits, libraries, and academic institutions.
In addition to improving connectivity, Kajeet and Mission Telecom collaborate to enrich educational opportunities for individuals and families. By delivering reliable internet access, they seek to provide essential learning and personal development tools, including online educational resources and job-seeking platforms. Moreover, Kajeet’s advanced mobile device management and analytics capabilities will empower Mission Telecom to foster a supportive environment for students and learners, equipping them for success in today’s digital landscape.
Furthermore, Kajeet and Mission Telecom collaborate to champion equitable access to broadband services, promoting digital inclusion across communities. That partnership embodies a shared vision for a more inclusive society where technology catalyses positive change. By addressing systemic challenges and leveraging their combined strengths, they are dedicated to cultivating a culture of empowerment through connectivity, ensuring everyone can thrive in the digital economy.
The British High Commission in Kenya has announced a significant funding allocation of Sh390 million for the ‘Strengthening Digital Communities’ project, which will be implemented in Busia and Mandera counties. The initiative is designed to close the digital divide by improving access to digital skills and technology for marginalised groups, including women, youth, senior citizens, and persons with disabilities (PWDs).
By investing in digital inclusion, the project aims to empower these communities and enhance their overall quality of life. Furthermore, with plans to reach over 190,000 individuals, the British High Commission supports Kenya’s ambitious goal of achieving 20 million digitally literate citizens by 2027.
To ensure the project’s success, the British High Commission collaborates with KICTANet and several local institutions, including the National Council of Persons with Disabilities and the Kenya Society for the Blind. That partnership reflects a shared commitment to fostering inclusivity and tackling the challenges faced by underserved populations in these counties.
By harnessing the strengths of these organisations, the initiative aims to cultivate a supportive environment that promotes digital literacy and access to technology. In addition, recognising digital employability as a crucial aspect of this effort, the project will provide training, mentorship, and resources to help young women and youth secure meaningful employment opportunities.
Italy‘s antitrust agency has launched an investigation into a Dublin-based company that runs Shein’s website and app over potentially deceptive environmental claims. The investigation targets Infinite Styles Services Co. Limited, accusing Shein of using unclear and misleading language to present its products as environmentally sustainable. It specifically questions claims related to Shein’s ‘evoluSHEIN’ collection, which may mislead consumers about the use of eco-friendly fabrics and the recyclability of its clothing.
Shein stated that it is prepared to cooperate with Italian authorities and provide necessary information fully. This investigation is part of a larger European push to combat ‘greenwashing,’ with the EU enforcing new rules that require companies to substantiate their environmental claims with clear evidence. Italy’s antitrust body also highlighted inconsistencies between Shein’s sustainability promises and the rise in greenhouse gas emissions the company reported in 2022 and 2023.
The case reflects a wider trend as European regulators intensify scrutiny of companies making environmental claims. Under Italy’s consumer protection laws, companies found guilty of misleading practices could face fines ranging from 5,000 to 10 million euros.
The International Telecommunication Union (ITU) and the UN Development Programme (UNDP) have forged a powerful alliance to highlight the transformative potential of digital technology in achieving the Sustainable Development Goals (SDGs). By combining their unique strengths, these organisations aim to establish a comprehensive framework that promotes innovation and fosters inclusivity within the digital realm.
Moreover, their partnership is dedicated to addressing critical global challenges by leveraging emerging technologies, ensuring that digital advancements are accessible and beneficial to all sectors of society, particularly marginalised communities. In addition to their commitment to innovation, ITU and UNDP prioritise enhancing digital infrastructure and connectivity in developing regions, fully aware that reliable and affordable internet access is fundamental to sustainable development.
They strive to bridge the digital divide through strategic investments and capacity-building initiatives, empowering local communities with the tools and knowledge to effectively utilise digital technologies. Consequently, this collaborative endeavour is essential for driving economic growth, improving educational opportunities, and enhancing health outcomes in underserved areas, ultimately fostering a more equitable digital ecosystem.
Furthermore, beyond infrastructure development, ITU and UNDP advocate for robust digital governance and policy frameworks that ensure the responsible use of technology. Their initiatives focus on promoting transparency and accountability and prioritise safeguarding privacy and security in the digital age. By emphasising digital literacy and skills development, they are rolling out training programs designed to equip individuals with the confidence to navigate the digital landscape effectively.
The US Commerce Department has finalised a $123 million grant for Polar Semiconductor to expand its Minnesota facility, a development anticipated to nearly double the company’s production capacity for power and sensor chips. This grant marks the first award from the Biden administration’s $52.7 billion semiconductor manufacturing and research subsidy program, designed to strengthen domestic chip production. Commerce Secretary Gina Raimondo emphasised that this funding will help establish a new US-owned foundry, raising Polar’s output from about 20,000 wafers to 40,000 per month, serving key industries such as aerospace, automotive, and defence.
The state of Minnesota is contributing $75 million to Polar Semiconductor’s $525 million expansion project. Polar is primarily owned by Sanken Electric, holding a 70% stake, while Allegro MicroSystems owns the remaining 30%. Recently, the company secured investment commitments totalling $175 million from Niobrara Capital and Prysm Capital. Meanwhile, the US Commerce Department has allocated over $35 billion for various semiconductor initiatives, including substantial grants to major companies like Samsung, Intel, TSMC, and Micron Technology.
White House economic adviser Lael Brainard announced that more funding awards will be finalised shortly, with Commerce Secretary Gina Raimondo confirming additional financial support for companies expected in the coming weeks. This initiative is part of the 2022 chips law, which aims to boost US competitiveness against China and significantly enhance domestic chip production. Additionally, Congress has recently approved legislation designed to streamline federal permitting processes for semiconductor manufacturing projects, facilitating quicker and more efficient development in the industry.
Vietnam’s President To Lam met with leading US firms in New York, pledging to strengthen the domestic tech sector. Discussions focused on boosting Vietnam’s digital transformation and enhancing strategic industries like AI and semiconductors. The Vietnamese president also held talks with major companies including Apple, Blackstone, and Warburg Pincus.
Meta, which already has millions of Facebook users in Vietnam, committed to increasing its investment in the country. Plans include expanding virtual reality production in Vietnam, signalling a stronger presence in the nation’s tech landscape. Meta’s Nick Clegg expressed confidence in Vietnam’s digital potential.
During Lam’s visit, cooperation agreements with US firms were signed. These agreements cover various sectors such as energy, artificial intelligence, and a new data centre initiative, further solidifying ties between the two nations.
The Vietnamese government emphasised that digital transformation will be key to future economic growth. Lam reaffirmed Vietnam’s commitment to advancing the tech economy and fostering innovation through international collaboration.
