Blockchain Foundry Inc. (CSE: BCFN)
Develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to leverage blockchain technology in their businesses.
Last week, Bloomberg reported that Microsoft is working on new in-house chips for its cloud servers and Surface PCs.
Yesterday, The Wall Street Journal published a roundup of the custom chip explosion that has hit, which includes Apple’s recent silicon for its Mac lineup.
Intel (NASDAQ:INTC) shares continue the pullback from last week. The company dominates server chips with about 94% of the market but had already started to lose ground to AMD (NASDAQ:AMD). Apple’s recently launched Macs with in-house silicon began its two-year breakup process with Intel.
Intel shares are currently down 2.5% to $46.26. AMD shares are down 2.8%. Xilinx (NASDAQ:XLNX), which AMD is acquiring for $35B in stock, is trading down 2.6%.
The outlier is Nvidia (NVDA +0.5%), which is slightly in the green. The company has benefited this year from the pandemic-related video game boom.
Apple (AAPL +0.5%) is moving forward with self-driving car technology and targeting 2024 as the year it produces a passenger car of its own, sources tell Reuters.
The self-driving car push could include Apple using is own “breakthrough” battery technology.
The company’s Project Titan has been moving in fits and starts since 2014, including reverting back to a software push at one point.
Shares of Tesla (TSLA -6.6%) have spun lower off the latest Apple car news. The development is also of interest to Waymo (NASDAQ:GOOG), Uber (UBER +2.3%) and Lyft (LYFT -0.3%).
Tesla was already lower before the Apple news broke on its first day as part of S&P 500 Index debut.
SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) to raise up to $525M through its first SPAC, SVF Investment. The company wants to list hte units on the Nasdaq.
The SPAC includes 60.375M units priced at $10 each. The units include one Class A ordinary share and one-fourth of one redeemable warrant to acquire one Class A share.
Key quote from the filing: “Our SPAC will bridge SoftBank’s private and public investing strategies by enabling us to partner with a fast-growing, IPO-ready technology company. We believe that we have access to a wide range of compelling investment opportunities through our broad international presence and deep local networks.”
SoftBank says it’s targeting sectors where its management has differentiated experience and insights, which includes but isn’t limited to mobile communications, AI, robotics, cloud technology, transportation technology, and financial technology.
Through a new deal with Saudi Aramco (ARMCO), Google (GOOG +0.3%)(GOOGL +0.3%) will establish a cloud region in Saudi Arabia.
A new company will be formed to offer cloud solutions in the region in order to comply with regulations.
Aramco has forecast that the cloud services market in the country will hit $30B by 2030.
“We are committed to helping businesses modernize and accelerate their digital transformations with Google Cloud. With this agreement, Google Cloud’s innovative technology and solutions will be available to global customers and enterprises in Saudi Arabia to enable them to better serve end consumers,” says Google Cloud CEO Thomas Kurian.
IBM (IBM -2.0%) was chosen for a U.S. Department of Defense award for advancing microelectronics technology design capabilities. Financial terms weren’t disclosed.
“The semiconductor industry is critical for our nation’s security, technology leadership and economic growth,” says Jay Bellissimo, IBM’s GM of U.S. Public and Federal Market. “IBM is proud to be one of DoD’s suppliers in this critically important mission and put our cutting-edge technologies and expertise in service of the defense community.”
The project is administered by the Naval Surface Warfare Center Crane Division within the U.S. Department of Defense and is funded by the Office of Secretary of Defense via the Trusted & Assured Microelectronics Program.
