SEOUL - Samsung Electronics Co Ltd plans to invest $116 billion in non-memory chips through 2030, to cut its reliance on the volatile memory chip market and develop chips to power self-driving cars and AI-enabled devices.
Global semiconductor makers are in a race to produce powerful chips to support new technologies such as fifth-generation mobile networks, connected cars and artificial intelligence . “The investment plan is expected to help the company to reach its goal of becoming the world leader in not only memory semiconductors but also logic chips by 2030,” it said in a statement.
“Samsung appears to be aggressive on the non-memory side given the size of the spending, but it is too early to tell whether this long-term plan will work out because it depends a lot on the demand situation and market conditions,” said senior analyst Song Myung-sup at HI Investment & Securities. South Korea, the world’s biggest producer of memory chips thanks to Samsung and domestic rival SK Hynix Inc, also wants to reduce its reliance on memory chip sales to smoothen volatile export trends.
With a 19 percent market share, Samsung is a distant second player in the foundry - or contract chip manufacturing - sector, trailing market champion Taiwan Semiconductor Manufacturing Co Ltd , according to industry tracker TrendForce.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TSMC’s new chips will leave Samsung in the dustQuarterly earnings at Taiwan’s $220 bln semiconductor maker fell 32 pct to $2 bln. However, cutting-edge technology means TSMC will benefit first as 5G handsets come into use and its South Korean rival will struggle to catch up. That justifies the rich valuation gap.
Source: Breakingviews - 🏆 470. / 51 Read more »
Qualcomm gains $30 billion in market value after Apple settlementQualcomm Inc added $30 billion to its market value after it resolved a legal bat... And the downfall of Apple has begun
Source: Reuters - 🏆 2. / 97 Read more »
AT&T Sheds Its Stake In Hulu For $1.43 Billion, Nearly Tripling InvestmentHulu is buying back AT&T's minority stake in the streaming service for $1.43 billion, the two companies said Monday.
Source: Forbes - 🏆 394. / 53 Read more »
Uber's self-driving unit secures $1-billion investment ahead of IPODenso Corp., Toyota Motor Corp. and SoftBank Group Corp.’s Vision Fund bought stakes in the self-driving unit, valuing the arm at $7.25 billion, which will help Uber fund a very costly endeavor. The whole point of 'uber' is that it's part of the on demand gig economy. If robots are doing it, then I won't use the service. Not that I trust people more but these folks aren't driving cause they like the smell of fumes and sitting in traffic.
Source: latimes - 🏆 11. / 82 Read more »
Uber announces $1 billion investment into its self-driving car group, weeks before going publicThe investment from Softbank, Denso and Toyota values the division, known as the Advanced Technologies Group (ATG), at $7.25 billion and creates a newly formed corporate entity with its own board. Happy to see that many new investors are getting smarter and keeping their crypto assets offline on New Ledger Nano X Get yours now ! And Stay Safe out there. That’s a terrible idea self driving cars are more harmful than anything
Source: CNBC - 🏆 12. / 72 Read more »
Uber Clinches $1 Billion Investment in Self-Driving-Car UnitUber Technologies Inc. said it struck a deal with investors including SoftBank Group Corp.’s tech fund for a $1 billion investment in its self-driving-car unit as the ride-hailing company prepares for an initial public offering. Nice. New York’s former World Trade Center (WTC) is the World Transportation Center (WTC) A new, ever-expanding, universal infrastructural system that guides & propels autonomous cars will emanate from “Ground Zero” in Manhattan The word “Phoenix” occurs in Nostradamus Thanks to all the chumps who let us use your cars and your time to make ourselves rich, we won't be needing you anymore though.
Source: WSJ - 🏆 98. / 63 Read more »
Uber's self-driving unit valued at $7.25 billion in new investmentUber's autonomous vehicle unit has raised $1 billion from a consortium of i... Macabre joke about figures and valuation
Source: Reuters - 🏆 2. / 97 Read more »