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Intel plans $20 bln chip manufacturing site in Ohio – sources

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Intel Corp on Friday is set to announce it will invest $20 billion in a massive new manufacturing site near Columbus, Ohio to develop and manufacture advanced semiconductor chips, sources briefed on the matter told Reuters.

The planned investment includes 3,000 permanent jobs on the 1,000-acre site in New Albany, Ohio. Time magazine, which first reported the news, said Intel will build at least two semiconductor fabrication plants.

President Joe Biden is making remarks Friday on the U.S. government's efforts "to increase the supply of semiconductors, make more in America, and rebuild our supply chains here at home," the White House said earlier.

Intel Chief Executive Pat Gelsinger is set to appear with Biden on Friday at the White House, sources told Reuters. The White House did not respond to a request for comment.

The initial $20 billion is the first step of what could be an eight-factory complex costing tens of billions of dollars.

Intel declined to comment on its plans but said in a statement that Gelsinger would disclose details Friday of "Intel’s latest plans for investment in manufacturing leadership" as it works "to meet the surging demand for advanced semiconductors."

Chipmakers are scrambling to boost output after manufacturers around the world, from autos to consumer electronics, faced shortages of chips. Intel also is trying to win back its position as maker of the smallest and fastest chips from current leader TSMC , which is based in Taiwan.

Gelsinger last fall also said he planned to announce another U.S. campus site before the end of the year that would eventually hold eight chip factories.

He told the Washington Post the complex could cost $100 billion over a decade and eventually employ 10,000.

Gelsinger is driving Intel plans to expand, especially in Europe and the United States, as it seeks to heat up competition with global rivals and respond to a worldwide microchip shortage.

Intel and Italy are intensifying talks over investments expected to be worth around 8 billion euros ($9 billion) to build an advanced semiconductor packaging plant, Reuters reported late last year.

The Biden administration is making a big push to convince Congress to approve $52 billion in funding to dramatically increase chip production in the United States. The Senate in June voted 68-32 for the chips funding as part of a broader competitiveness bill, but it has been stalled in the House.

House Speaker Nancy Pelosi said Thursday she hopes to "go to conference" on the chips funding measure soon.

Still, Intel's plans for new factories will not alleviate the current demand crunch, because such complexes take years to build. Gelsinger previously said he expected the chip shortages to last into 2023.

In September, Intel broke ground on two factories in Arizona as part of its turnaround plan to become a major manufacturer of chips for outside customers. The $20 billion plants will bring the total number of Intel factories at its campus in the Phoenix suburb of Chandler to six.

Intel told Time it considered 38 sites before picking New Albany, Ohio in December. Ohio has agreed to invest $1 billion in infrastructure improvements to facilitate the factory, Time said.

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South Korea authorities launch probe after three die in Hyundai car test

The Ulsan plant is Hyundai’s biggest manufacturing facility, with its own port and an annual production capacity of 1.4 million vehicles

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South Korean authorities launched an investigation on Tuesday after three people died during a car test at a Hyundai Motor plant in the city of Ulsan, police told Reuters.

The two Hyundai researchers and one Hyundai contractor were found unconscious in a car at around 3:00 p.m. while they were testing it in a "chamber," according to Hyundai's labour union.

South Korean media reports said the three had suffocated.

A police officer in Ulsan said the police and the labour ministry were investigating the incident, including its cause.

A fire department official told Reuters that it first received a report at 3:17 pm that the accident happened at Hyundai's No.4 factory.

"Hyundai Motor Company is deeply saddened by the incident that occurred at our plant in Ulsan, South Korea," Hyundai said in a statement, saying it would "cooperate fully with all relevant authorities to determine the cause of this incident."

The Ulsan plant is Hyundai's biggest manufacturing facility, with its own port and an annual production capacity of 1.4 million vehicles, including exports of 1.1 million units.

In November last year, Hyundai Motor broke ground on a 2 trillion won ($1.44 billion) plant in Ulsan dedicated to making electric vehicles in South Korea, as the automaker accelerated a shift away from petrol-powered cars.

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Russia fines Google more than the world’s total GDP over YouTube bans

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Russia has fined Google $2.5 decillion after the US tech giant took action against pro-Kremlin TV channels on YouTube following Moscow’s invasion of Ukraine.

Russia imposed a daily fine four years ago - a fine that has since swelled to an unprecedented level - ($20,000,000,000,000,000,000,000,000,000,000,000 - a 33-digit figure).

To put this into perspective, global GDP reaches an estimated $110 thousand billion (12-digit figure), according to the IMF.

Speaking to Russia’s TASS news agency, one expert, Roman Yankovsky from the HSE Institute of Education, said Google “clearly will not pay this penalty, and the Russian Federation will not be able to recover this money from the company."

Euronews reported that a short calculation shows that he is right.

Google's holding company, Alphabet, has a market capitalisation of slightly more than $2 trillion. Even with earnings of $80.54 billion from the last quarter, the tech giant doesn’t seem to be able to afford to pay the fine.

Google first barred pro-Moscow channel Tsargrad TV, which is owned by oligarch Konstantin Malofeev, four years ago.

At the time, Google was fined a daily penalty of 100,000 roubles and warned that amount would double every 24 hours if it went unpaid.

The original fine has been compounded by further penalties after Google eventually blocked a total of 17 Russian TV channels as a result of international sanctions, The Telegraph reported.

The tech giant now owes a staggering $2.5 decillion.

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Apple launches new iPad mini with AI features

Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.

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Apple on Tuesday launched its new generation of the iPad mini packed with AI features including writing tools and an improved Siri assistant, as the iPhone maker races to boost its devices with artificial-intelligence capabilities, Reuters reported.

The new iPad mini is powered by Apple's A17 Pro chip, which is used in the iPhone 15 Pro and Pro Max models. With a six-core central processing unit, the A17 Pro would boost CPU performance by 30% compared to the current generation iPad minis and is central to running Apple Intelligence, Apple's AI software.

Apple said it would roll out the first set of AI features in the U.S. version of the English language this month through a software update with iPadOS 18.1.

The features will be available for iPads with A17 Pro or M1 chips and later generations, Apple said, adding it will roll out additional features including image-generation tools, Genmoji and ChatGPT-powered capabilities over the next several months, read the report.

Apple in September unveiled its long-awaited, AI-boosted iPhone 16 lineup, but with the AI features still in test mode, the company failed to excite some investors while early sales data raised some questions around demand.

Still, research firm Canalys on Monday said the iPhone 16 would help Apple's sales in the fourth quarter and drive momentum into the first half of 2025, after Apple reached a record high third-quarter shipments.

The iPad mini, starting at $499, is available for pre-orders starting on Tuesday and will begin arriving to customers and Apple store locations next week, Apple said.

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