Tatas to employ 60,000 at iPhone plant; SoftBank to sell partial stake in Paytm – report; Microsoft, NVIDIA team up on supercomputer
Tata group’s iPhone components factory in Hosur, near Bengaluru, is set to employ 60,000 workers, with a large proportion being women, Press Trust of India reports, citing Telecom and IT Minister Ashwini Vaishnaw. SoftBank Group is set to sell part of its 12.9 percent stake in Paytm in a transaction that will fetch the Japanese telecom and internet investor at least $200 million, Mint reports. And Microsoft and NVIDIA have teamed up to build a supercomputer to train AI models.
The biggest factory to manufacture Apple iPhones in India is coming up at Hosur near Bengaluru, which will employ around 60,000 people, Telecom and IT Minister Ashwini Vaishnaw said on Tuesday, Press Trust of India reports.
The minister was speaking at a ceremony that was part of India’s ongoing celebrations of tribals, the Janjatiya Gaurav Divas.
“Apple's iPhone is now getting made in India and it's the biggest plant in India, being set up at Hosur near Bengaluru. 60,000 people work in a single factory. The first 6,000 employees of these 60,000 employees are our tribal sisters from places nearby Ranchi and Hazaribagh. Tribal sisters have been trained to make Apple iPhone,” the minister said, according to the report.
Apple has outsourced the manufacturing of iPhone enclosures to Tata group, which has a plant at Hosur, where the Indian conglomerate was previously reported to be hiring 40,000 workers.
SoftBank Group will sell a third of its stake in One97 Communications Ltd, the owner of the Paytm payments app, through a $200 million block deal, Mint reports, citing deal terms it has reviewed.
SoftBank, the Japanese internet and telecom investor that owns 12.9 percent of Paytm, plans to sell 29 million shares or 4.5 percent of the fintech company on Thursday, according to Mint.
The shares are being offered to institutional investors at ₹555-601.45. At the lower end of the band, it is a 7.7 percent discount to the closing price of ₹601.3 on Wednesday. If completed, the sale will fetch SoftBank at least ₹1,628.9 crore or $200 million.
Microsoft and NVIDIA yesterday announced a multi-year collaboration to build one of the most powerful AI supercomputers in the world, combining Azure’s advanced supercomputing infrastructure and NVIDIA GPUs, networking and AI software.
These new computers will help enterprises train, deploy and scale AI, including large, state-of-the-art models, NVIDIA said in a press release.
As part of the collaboration, NVIDIA will use Azure’s scalable virtual machine instances to research and further advance generative AI, an emerging area of AI related to foundational models involving unsupervised, self-learning algorithms to create new text, code, digital images, video or audio.
Evernote, the notetaking and task management app founded over 20 years ago, whose elephant icon was familiar to millions of users, has been acquired by Milan-based app developer Bending Spoons.
In a post on Evernote’s newsroom, Evernote CEO Ian Small said that Bending Spoons will take ownership of Evernote in a transaction expected to close in early 2023, TechCrunch reports. For Evernote, the acquisition — the terms of which weren’t made public — marks the end of a roller coaster of a journey, TechCrunch notes.
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