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Time Is Money

Jan 7, 2024 • 7 min read

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India’s EV Market
U.S. Semiconductor Production

Week Recap:

Google's new IP Protection feature in Chrome is designed to enhance user privacy by concealing their IP addresses. This is achieved by routing the user's internet traffic through proxy servers. When a user accesses a website, instead of directly connecting to it, their request is first sent to a proxy server. This server then forwards the request to the website, effectively hiding the user's actual IP address from the site.
ASML, a leading manufacturer of chip-making equipment based in the Netherlands, recently experienced a partial revocation of its export license by the Dutch government. This decision directly impacts the shipment of specific lithography systems to China, namely the NXT:2050i and NXT:2100i models. Lithography systems, crucial in the creation of chip circuitry, are a market dominated by ASML.
Russian and Chinese scientists have made significant progress in quantum communication encryption using China's Mozi quantum satellite. This method employs quantum mechanics principles to create highly secure communication channels, ideal for transmitting sensitive data in areas like finance, defense, and government. In a landmark experiment, the team successfully transmitted two encrypted images over a distance of 3,800 kilometers between Moscow and Urumqi, utilizing quantum keys for encryption.
In response to a recent attack on its vessel Maersk Hangzhou, Danish shipping company A.P. Moeller-Maersk announced a halt to all its transits through the Red Sea and Gulf of Aden. This decision follows a series of attacks in the Red Sea by the Houthi rebel group, leading to several shipping firms suspending operations in the area. The Maersk Hangzhou, a Singapore-flagged container ship operating between Europe and Asia, was targeted by a missile and subsequent boarding attempts on December 30. U.S. Navy helicopters intervened, engaging boats controlled by the Houthis, resulting in the sinking of three boats and the loss of their crews.
In 2023, traditional entertainment studios invested heavily in streaming services to rival Netflix, but their efforts largely resulted in financial losses. According to recent data, Netflix's competitors collectively faced a staggering $5 billion loss in the streaming sector. NBCUniversal's Peacock led these losses with a $2.8 billion deficit, closely followed by Disney+, which lost $1.6 billion in the first nine months of the year. As a consequence of these substantial financial setbacks, industry analysts predict a potential wave of mergers or closures among these streaming services.
The recent release of court documents from a defamation lawsuit related to Jeffrey Epstein includes mentions of several prominent figures. These documents are part of a case by Virginia Giuffre against Ghislaine Maxwell, Epstein's associate, and reveal connections to various high-profile individuals.
Samsung is set to hold a press conference in San Jose, California, on January 17, where it will reveal its latest Galaxy smartphones. As a major player in the global smartphone market, Samsung holds a 20% share globally, slightly ahead of Apple's 16%. However, in the U.S. market, Samsung trails behind Apple, with a 25% share compared to Apple's 53%. The new Galaxy phones, potentially equipped with features not available on the iPhone, could boost Samsung's appeal to consumers.
On January 2, SpaceX's Falcon 9 rocket deployed 21 Starlink satellites, including six with Direct to Cell capabilities. This innovation functions like a space-based cell tower, aiming to provide uninterrupted global communication services. The project involves global cellular providers such as T-Mobile in the U.S., Rogers in Canada, KDDI in Japan, Optus in Australia, One NZ in New Zealand, Salt in Switzerland, and Entel in Chile and Peru. This initiative represents a significant advancement in extending communication services to previously inaccessible areas.
Intel recently announced the formation of a new independent company, Articul8 AI, Inc., in collaboration with DigitalBridge Group, Inc. This venture focuses on artificial intelligence software, with backing from the digital-focused asset manager and other investors. While the financial specifics of the deal remain undisclosed, Intel confirmed it would remain a shareholder in Articul8, which will operate with an independent board of directors.
Health technology company HealthEC has reported a data breach affecting about 4.5 million customers linked to its business partners. Specializing in population health management, HealthEC provides services that include analytics for better healthcare outcomes. The breach, which occurred between July 14 and 23, 2023, involved unauthorized access to HealthEC's systems and the theft of files containing sensitive personal data.
The United States Supreme Court (SCOTUS) is set to make a decision regarding former President Trump's eligibility to be on Colorado's primary ballot. Last month, Colorado's Supreme Court, in a close 4-3 decision, declared Trump ineligible, referencing the 14th Amendment's provision against individuals who have engaged in insurrection or rebellion from holding office in the United States.

India’s EV Market:

Vietnamese electric vehicle manufacturer VinFast is planning a significant investment in India's burgeoning automobile market. The company aims to start with an initial $500 million investment to establish an integrated facility in Tamil Nadu. This move is part of a larger plan, detailed in a memorandum of understanding with Tamil Nadu's government, to invest up to $2 billion. However, the company has not specified a timeline for the total investment.
The proposed facility in Thoothukudi, Tamil Nadu, is expected to have an annual production capacity of up to 150,000 units and aims to create between 3,000 to 3,500 jobs. Tamil Nadu is a key hub for automobile manufacturing in India, housing facilities of global giants like BMW, Hyundai, and Renault-Nissan, as well as electric vehicle firms like BYD, Ather Energy, and Ola Electric.
VinFast's expansion into India aligns with the country's growing focus on electric vehicles, aiming to achieve 30% electrification by 2030. Despite facing financial challenges, including a significant drop in share price and job cuts in the U.S. and Canada, VinFast is committed to entering new markets. The Indian EV market is rapidly evolving, with several international players like BYD, MG Motors, Hyundai, and Tesla vying for a share, although currently, Tata Motors leads the Indian Market.

U.S. Semiconductor Production:

The U.S. Commerce Department announced its intention to grant $162 million to Microchip Technology to enhance semiconductor and microcontroller unit (MCU) production in the United States. This funding aims to triple the output of these crucial components at two U.S. factories. These semiconductors and MCUs are vital for various industries, including automotive, consumer electronics, defense, and aerospace.
Part of the Chips for America program, a $52.7 billion initiative approved by Congress in August 2022 to boost domestic semiconductor manufacturing and research, this award is yet to be finalized. The program's first grant was $35 million to BAE Systems for producing chips for fighter planes. Microchip Technology's award will be allocated as $90 million for a Colorado facility and $72 million for an Oregon facility expansion, helping to reduce dependency on foreign chip production, particularly from China.
The award is seen as crucial for securing the supply chain for essential semiconductors and mitigating the impact of global supply chain disruptions experienced during the pandemic. Microchip's CEO, Ganesh Moorthy, recognized the grant as significant for strengthening national and economic security. Following Microchip's earlier announcement in 2023 to invest $800 million in its Oregon facility, this funding is a part of broader efforts by the U.S. to survey and understand the sourcing of legacy chips to reduce national security risks associated with reliance on foreign sources, especially China.

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