Reddit, the social media giant, has disclosed its intention to go public in the United States stock market, while revealing a narrowed net loss of $90.8 million and a revenue growth of approximately 21 per cent in 2023. <o:p></o:p>

According to Reuters, the company's IPO filing, made public recently, marks a significant milestone nearly two decades after its inception. <o:p></o:p>

Reddit's move toward a public offering is being closely watched, positioning itself against social media powerhouses like Facebook and X (formerly Twitter). <o:p></o:p>

With an average of 73.1 million daily active users and 267.5 million weekly active users reported in the last quarter of 2023, Reddit boasts a huge user base, with over 100,000 active communities and 1 billion cumulative posts.<o:p></o:p>

In an effort to strengthen its revenue streams, Reddit has struck a noteworthy deal with Alphabet's Google, according to sources familiar with the matter. <o:p></o:p>

The agreement entails making Reddit's content available to Google's artificial intelligence models, with the contract valued at approximately $60 million annually. <o:p></o:p>

CEO Steven Huffman holds Class B common stock as revealed by the IPO filing, which is dependent upon Reddit achieving a market capitalisation valuation of $5 billion post-offering. <o:p></o:p>

The social media platform's anticipated valuation and market performance are expected to resonate positively among investors, fostering confidence in Reddit's trajectory.<o:p></o:p>

Despite Reddit's presence in the social media landscape, questions linger regarding its monetisation strategy and content moderation practices. <o:p></o:p>

Compared to its counterparts like Meta (Facebook) and Twitter, Reddit's revenue figures are dwarfed, indicating a need to refine its advertising model and address concerns over content moderation. <o:p></o:p>

Nevertheless, Reddit has carved a niche for itself, particularly among younger demographics, bolstered by its acquisition of Dubsmash, a TikTok competitor, in 2020.<o:p></o:p>

The journey to IPO hasn't been without challenges for Reddit. <o:p></o:p>

Economic uncertainties coupled with volatile technology stocks compelled the company to delay its offering, despite confidentially filing for an IPO in late 2021. <o:p></o:p>

However, with Morgan Stanley and Goldman Sachs leading the underwriting efforts, supported by a consortium of other banks, Reddit's foray into the public market is poised for significant attention and scrutiny.

<o:p></o:p>

About the Reddit-Google deal for AI training<o:p></o:p>

Media reports note that Reddit has struck a $60 million deal with Google, granting access to its posts for AI model training. 

This collaboration aims to enhance Google's services, including Search, while Reddit gains access to Google's AI models for internal improvements. 

Despite concerns from moderators, the deal does not indicate data-driven changes to Reddit's functioning, as it operates differently from algorithm-driven platforms. 

Both parties must adhere to Reddit's user terms and privacy policy, ensuring deleted posts are removed entirely. 

For Google, the partnership provides valuable human-generated data to refine AI models, improving understanding of human interactions. 

Google praised Reddit as a repository of authentic experiences, aiming to enhance user access to Reddit content through its products, benefitting both platforms and simplifying user engagement.

<o:p></o:p>

Reddit, the social media giant, has disclosed its intention to go public in the United States stock market, while revealing a narrowed net loss of $90.8 million and a revenue growth of approximately 21 per cent in 2023.

Reddit, the social media giant, has disclosed its intention to go public in the United States stock market, while revealing a narrowed net loss of $90.8 million and a revenue growth of approximately 21 per cent in 2023. According to Reuters, the company's IPO filing, made public recently, marks a significant milestone nearly two decades after its inception. Reddit's move toward a public offering is being closely watched, positioning itself against social media powerhouses like Facebook and X (formerly Twitter). With an average of 73.1 million daily active users and 267.5 million weekly active users reported in the last quarter of 2023, Reddit boasts a huge user base, with over 100,000 active communities and 1 billion cumulative posts. In an effort to strengthen its revenue streams, Reddit has struck a noteworthy deal with Alphabet's Google, according to sources familiar with the matter. The agreement entails making Reddit's content available to Google's artificial intelligence models, with the contract valued at approximately $60 million annually. CEO Steven Huffman holds Class B common stock as revealed by the IPO filing, which is dependent upon Reddit achieving a market capitalisation valuation of $5 billion post-offering. The social media platform's anticipated valuation and market performance are expected to resonate positively among investors, fostering confidence in Reddit's trajectory. Despite Reddit's presence in the social media landscape, questions linger regarding its monetisation strategy and content moderation practices. Compared to its counterparts like Meta (Facebook) and Twitter, Reddit's revenue figures are dwarfed, indicating a need to refine its advertising model and address concerns over content moderation. Nevertheless, Reddit has carved a niche for itself, particularly among younger demographics, bolstered by its acquisition of Dubsmash, a TikTok competitor, in 2020. The journey to IPO hasn't been without challenges for Reddit. Economic uncertainties coupled with volatile technology stocks compelled the company to delay its offering, despite confidentially filing for an IPO in late 2021. However, with Morgan Stanley and Goldman Sachs leading the underwriting efforts, supported by a consortium of other banks, Reddit's foray into the public market is poised for significant attention and scrutiny. About the Reddit-Google deal for AI training Media reports note that Reddit has struck a $60 million deal with Google, granting access to its posts for AI model training. This collaboration aims to enhance Google's services, including Search, while Reddit gains access to Google's AI models for internal improvements. Despite concerns from moderators, the deal does not indicate data-driven changes to Reddit's functioning, as it operates differently from algorithm-driven platforms. Both parties must adhere to Reddit's user terms and privacy policy, ensuring deleted posts are removed entirely. For Google, the partnership provides valuable human-generated data to refine AI models, improving understanding of human interactions. Google praised Reddit as a repository of authentic experiences, aiming to enhance user access to Reddit content through its products, benefitting both platforms and simplifying user engagement.

Reddit's IPO filing reveals narrowed losses, steady growth amid high anticipation

In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day.

The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI).&nbsp;<o:p></o:p>

"The speed (at which Nvidia's stock is rising) is faster than I had expected, but I think it's justified (given the fundamental improvements in AI computing )", Reuters quoted Russ Mould, investment director at AJ Bell as saying. <o:p></o:p>

Nvidia's stock skyrocketed by 16.4 per cent to close at $785.38, setting a new record-high close and making it the third-most valuable company in the US stock market, surpassing tech behemoths like Amazon.com and Alphabet. <o:p></o:p>

The surge in Nvidia's market value not only outpaced the entire value of Coca-Cola but also propelled the broader S&amp;P 500, Europe's STOXX 600, and Japan's Nikkei share average to record highs, underscoring the ripple effect of Nvidia's performance across global markets.<o:p></o:p>

Investor sentiment soared as Nvidia forecasted a 233 per cent growth in current-quarter revenue, surpassing market expectations and signalling strong demand for its chips. <o:p></o:p>

Advanced Micro Devices and Broadcom, among other chipmakers exposed to AI, also witnessed significant rallies, further fuelling the optimism surrounding the tech sector. <o:p></o:p>

The Philadelphia chip index surged to a record high with its biggest one-day gain since May 2023, while the S&amp;P 500 and the Nasdaq also soared to new heights, signalling a broader market rally.<o:p></o:p>

While Nvidia's meteoric rise has garnered widespread acclaim, concerns lingered among some analysts regarding the company's rapid growth trajectory and potential headwinds such as US curbs on chip sales to China. <o:p></o:p>

Despite the rapid pace of gains, at least 17 brokerages raised their price targets post-results, reflecting bullish sentiments. <o:p></o:p>

However, UBS tempered its optimism, citing concerns over a potential slowdown in revenue growth.<o:p></o:p>

"We've gotten well ahead of expectations and baked in a lot for the next three years," remarked Paul Nolte, senior wealth adviser and market strategist at Murphy &amp; Sylvest.<o:p></o:p>

Short sellers, who bet on Nvidia's stock decline, rushed to close their trades, having incurred significant losses amid the stock's ascent.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day. The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI).

In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day. The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI). "The speed (at which Nvidia's stock is rising) is faster than I had expected, but I think it's justified (given the fundamental improvements in AI computing )", Reuters quoted Russ Mould, investment director at AJ Bell as saying. Nvidia's stock skyrocketed by 16.4 per cent to close at $785.38, setting a new record-high close and making it the third-most valuable company in the US stock market, surpassing tech behemoths like Amazon.com and Alphabet. The surge in Nvidia's market value not only outpaced the entire value of Coca-Cola but also propelled the broader S&P 500, Europe's STOXX 600, and Japan's Nikkei share average to record highs, underscoring the ripple effect of Nvidia's performance across global markets. Investor sentiment soared as Nvidia forecasted a 233 per cent growth in current-quarter revenue, surpassing market expectations and signalling strong demand for its chips. Advanced Micro Devices and Broadcom, among other chipmakers exposed to AI, also witnessed significant rallies, further fuelling the optimism surrounding the tech sector. The Philadelphia chip index surged to a record high with its biggest one-day gain since May 2023, while the S&P 500 and the Nasdaq also soared to new heights, signalling a broader market rally. While Nvidia's meteoric rise has garnered widespread acclaim, concerns lingered among some analysts regarding the company's rapid growth trajectory and potential headwinds such as US curbs on chip sales to China. Despite the rapid pace of gains, at least 17 brokerages raised their price targets post-results, reflecting bullish sentiments. However, UBS tempered its optimism, citing concerns over a potential slowdown in revenue growth. "We've gotten well ahead of expectations and baked in a lot for the next three years," remarked Paul Nolte, senior wealth adviser and market strategist at Murphy & Sylvest. Short sellers, who bet on Nvidia's stock decline, rushed to close their trades, having incurred significant losses amid the stock's ascent. (With inputs from Reuters)

Nvidia's surge adds $277 billion in market value, spurring record stock rally

An extraordinary general meeting (EGM) to decide the fate of Byju Raveendran, the CEO and founder of Byju's, India's leading ed-tech giant, will convene today. <o:p></o:p>

The meeting, organised by a consortium of shareholders including global tech investor Prosus, is poised to deliberate on Raveendran's removal amid a backdrop of profound financial distress and legal entanglements that have engulfed the company over the past year.<o:p></o:p>

Byju's, once lauded as a beacon of success in India's startup landscape with a valuation soaring over $20 billion, has witnessed a catastrophic downfall, experiencing a staggering 90 per cent decline in its value within the last year. <o:p></o:p>

The ed-tech firm, which initially flourished amid the surge in demand for online learning during the Covid-19 pandemic, now finds itself grappling with a myriad of crises, including investor pullouts, the resignation of Deloitte as its auditor, and a contentious legal battle with US lenders over a hefty $1.2 billion loan.<o:p></o:p>

Despite Byju's assertion of a Karnataka High Court ruling that deems any decisions made at the meeting as "invalid" until the next hearing, the consortium of investors remain&nbsp;resolute in its pursuit of Raveendran's ousting. <o:p></o:p>

Byju's contends that prominent investors such as General Atlantic and the Chan Zuckerberg Initiative, along with others, have breached shareholder agreements by instigating the meeting.<o:p></o:p>

In tandem with the mounting pressure from investors, Raveendran faces intensified scrutiny from regulatory authorities. <o:p></o:p>

The Enforcement Directorate (ED) has escalated its investigation into alleged Foreign Exchange Management Act (FEMA) violations involving Byju's and its founder. <o:p></o:p>

The agency's decision to fortify the Look Out Circular (LOC) against Raveendran highlights the gravity of the probe, with the Indian Bureau of Immigration directed to ensure his presence within the country's borders.<o:p></o:p>

An extraordinary general meeting (EGM) to decide the fate of Byju Raveendran, the CEO and founder of Byju's, India's leading ed-tech giant, will convene today. The meeting, organised by a consortium of shareholders including global tech investor Prosus, is poised to deliberate on Raveendran's removal amid a backdrop of profound financial distress and legal entanglements that have engulfed the company over the past year.

An extraordinary general meeting (EGM) to decide the fate of Byju Raveendran, the CEO and founder of Byju's, India's leading ed-tech giant, will convene today. The meeting, organised by a consortium of shareholders including global tech investor Prosus, is poised to deliberate on Raveendran's removal amid a backdrop of profound financial distress and legal entanglements that have engulfed the company over the past year. Byju's, once lauded as a beacon of success in India's startup landscape with a valuation soaring over $20 billion, has witnessed a catastrophic downfall, experiencing a staggering 90 per cent decline in its value within the last year. The ed-tech firm, which initially flourished amid the surge in demand for online learning during the Covid-19 pandemic, now finds itself grappling with a myriad of crises, including investor pullouts, the resignation of Deloitte as its auditor, and a contentious legal battle with US lenders over a hefty $1.2 billion loan. Despite Byju's assertion of a Karnataka High Court ruling that deems any decisions made at the meeting as "invalid" until the next hearing, the consortium of investors remain resolute in its pursuit of Raveendran's ousting. Byju's contends that prominent investors such as General Atlantic and the Chan Zuckerberg Initiative, along with others, have breached shareholder agreements by instigating the meeting. In tandem with the mounting pressure from investors, Raveendran faces intensified scrutiny from regulatory authorities. The Enforcement Directorate (ED) has escalated its investigation into alleged Foreign Exchange Management Act (FEMA) violations involving Byju's and its founder. The agency's decision to fortify the Look Out Circular (LOC) against Raveendran highlights the gravity of the probe, with the Indian Bureau of Immigration directed to ensure his presence within the country's borders.

Byju's investors forge ahead with CEO ouster plan amid legal hurdles and financial turmoil

Investment banking firm, Jefferies, predicts that India is set to become the third-largest economy globally by 2027, overtaking both Japan and Germany. <o:p></o:p>

With India's GDP projected to reach $5 trillion in the next four years and nearly $10 trillion by 2030, the country's economic ascent is predicted to be strong.<o:p></o:p>

According to media reports, Jefferies highlighted India's economic growth trajectory, noting its transformation from the ninth-largest economy a decade ago to the fifth-largest today, with a nominal GDP of $3.4 trillion. <o:p></o:p>

Despite facing challenges from major reforms like the implementation of GST, bankruptcy laws, and demonetisation, India's GDP has continued to expand.<o:p></o:p>

A Hindustan Times report cited Chris Wood of Jefferies who highlighted the impact of fundamental structural reforms under Prime Minister Modi's leadership. <o:p></o:p>

According to him these reforms have significantly improved India's macroeconomic indicators, making the country increasingly attractive to foreign investors. <o:p></o:p>

Previously, India's lack of a compelling top-down narrative hindered foreign investment, but with recent reforms, the country's macro story is now on par with global standards.<o:p></o:p>

The investment banking company predicts India's GDP growth to outperform most large economies globally, with a projected growth rate of 6 per cent over the next five years. <o:p></o:p>

Apart from the structural reforms,&nbsp;rising growth rates&nbsp;are also driving India's ascent on the global economic stage.<o:p></o:p>

NDTV reported that Jefferies anticipates significant growth in Indian equity markets, with estimated returns of 8-10 per cent in dollar terms over the next five to seven years. <o:p></o:p>

Structural domestic flows and the potential listing of large unicorns are poised to drive the market cap past $10 trillion by 2030. <o:p></o:p>

The company also highlights the scope for increased foreign investment in India, given its relatively low country weight in global indices, presenting rewarding opportunities for equity investors.<o:p></o:p>

Investment banking firm, Jefferies, predicts that India is set to become the third-largest economy globally by 2027, overtaking both Japan and Germany. With India's GDP projected to reach $5 trillion in the next four years and nearly $10 trillion by 2030, the country's economic ascent is predicted to be strong.

Investment banking firm, Jefferies, predicts that India is set to become the third-largest economy globally by 2027, overtaking both Japan and Germany. With India's GDP projected to reach $5 trillion in the next four years and nearly $10 trillion by 2030, the country's economic ascent is predicted to be strong. According to media reports, Jefferies highlighted India's economic growth trajectory, noting its transformation from the ninth-largest economy a decade ago to the fifth-largest today, with a nominal GDP of $3.4 trillion. Despite facing challenges from major reforms like the implementation of GST, bankruptcy laws, and demonetisation, India's GDP has continued to expand. A Hindustan Times report cited Chris Wood of Jefferies who highlighted the impact of fundamental structural reforms under Prime Minister Modi's leadership. According to him these reforms have significantly improved India's macroeconomic indicators, making the country increasingly attractive to foreign investors. Previously, India's lack of a compelling top-down narrative hindered foreign investment, but with recent reforms, the country's macro story is now on par with global standards. The investment banking company predicts India's GDP growth to outperform most large economies globally, with a projected growth rate of 6 per cent over the next five years. Apart from the structural reforms, rising growth rates are also driving India's ascent on the global economic stage. NDTV reported that Jefferies anticipates significant growth in Indian equity markets, with estimated returns of 8-10 per cent in dollar terms over the next five to seven years. Structural domestic flows and the potential listing of large unicorns are poised to drive the market cap past $10 trillion by 2030. The company also highlights the scope for increased foreign investment in India, given its relatively low country weight in global indices, presenting rewarding opportunities for equity investors.

India poised to surpass Japan and Germany, become third-largest economy by 2027: Jefferies

In response to Russia's invasion of Ukraine, the United States is set to impose sanctions on more than 500 targets on Friday, marking the second anniversary of the conflict.

In an interview with Reuters,&nbsp;Deputy US Treasury Secretary Wally Adeyemo said that this action aims to target Russia's military-industrial complex and companies in third countries facilitating Russia's access to desired goods.

The move underscores Washington's determination to hold Russia accountable for its actions, including the war in Ukraine and the death of opposition leader Alexei Navalny.

Adeyemo emphasised the collective nature of these sanctions, stating, "It's important to step back and remember that it's not just America taking these actions."

This coordinated effort reflects the resolve of the US and its allies to maintain pressure on Russia, despite challenges such as uncertainties regarding additional security assistance for Kyiv.

While President Joe Biden's administration has depleted previously approved funds for Ukraine, efforts to secure additional resources face obstacles in the Republican-controlled House of Representatives.

The forthcoming sanctions package represents the latest in a series of measures aimed at Moscow since the 2022 invasion of Ukraine, which has resulted in significant casualties and widespread destruction.

Despite the imposition of thousands of sanctions by the United States and its allies, concerns persist about the efficacy of these measures in halting Russia's aggression.&nbsp;

Experts caution that congressional action to provide additional military assistance to Ukraine is crucial for bolstering the country's defense capabilities.

According to assessments by the Treasury Department, the sanctions have impacted Russia's economy, contributing to a 2.1 per cent contraction in 2022.

However, Russia's economic performance has exceeded expectations, with the International Monetary Fund (IMF) upgrading its GDP growth forecast for 2024 to 2.6 per cent - a notable improvement from previous estimates.

IMF has dubbed Russia as a "war economy" due to increased military expenditures, government support for consumption, and rising inflation.

(With inputs from Reuters)

In response to Russia's invasion of Ukraine, the United States is set to impose sanctions on more than 500 targets on Friday, marking the second anniversary of the conflict.

In response to Russia's invasion of Ukraine, the United States is set to impose sanctions on more than 500 targets on Friday, marking the second anniversary of the conflict. In an interview with Reuters, Deputy US Treasury Secretary Wally Adeyemo said that this action aims to target Russia's military-industrial complex and companies in third countries facilitating Russia's access to desired goods. The move underscores Washington's determination to hold Russia accountable for its actions, including the war in Ukraine and the death of opposition leader Alexei Navalny. Adeyemo emphasised the collective nature of these sanctions, stating, "It's important to step back and remember that it's not just America taking these actions." This coordinated effort reflects the resolve of the US and its allies to maintain pressure on Russia, despite challenges such as uncertainties regarding additional security assistance for Kyiv. While President Joe Biden's administration has depleted previously approved funds for Ukraine, efforts to secure additional resources face obstacles in the Republican-controlled House of Representatives. The forthcoming sanctions package represents the latest in a series of measures aimed at Moscow since the 2022 invasion of Ukraine, which has resulted in significant casualties and widespread destruction. Despite the imposition of thousands of sanctions by the United States and its allies, concerns persist about the efficacy of these measures in halting Russia's aggression. Experts caution that congressional action to provide additional military assistance to Ukraine is crucial for bolstering the country's defense capabilities. According to assessments by the Treasury Department, the sanctions have impacted Russia's economy, contributing to a 2.1 per cent contraction in 2022. However, Russia's economic performance has exceeded expectations, with the International Monetary Fund (IMF) upgrading its GDP growth forecast for 2024 to 2.6 per cent - a notable improvement from previous estimates. IMF has dubbed Russia as a "war economy" due to increased military expenditures, government support for consumption, and rising inflation. (With inputs from Reuters)

US to impose sanctions on over 500 targets on anniversary of Ukraine war

Inditex, the parent company of Zara, has embarked on a strategic move to expand its low-priced brand Lefties in response to the growing presence of the Chinese-founded rival Shein.

Shein's rapid growth in the online marketplace has put pressure on major retailers like Inditex and H&amp;M to devise strategies to tackle its competitive edge.

Once a leader in fast fashion,&nbsp;Zara has faced challenges in maintaining its competitive pricing due to Inditex's price hikes aimed at safeguarding profit margins amidst inflation and targeting more upscale clientele.

However, Inditex is quietly strengthening its budget-friendly offerings, with the expansion of Lefties being a pivotal aspect of this strategy.&nbsp;

Lefties, originally conceived as an outlet for Zara's excess inventory, has evolved into a brand selling jeans for as low as $19.48, dresses starting from $8.65, and handbags priced at $6.48.

The expansion of Lefties extends beyond its origins, with stores now present in 17 countries, including emerging markets like Egypt, Mexico, Romania, and Saudi Arabia.&nbsp;

This strategic move signals Inditex's commitment to catering to consumers seeking value-oriented options, a market segment that Lefties aims to capture amidst the competitive landscape dominated by Shein.

Lefties' growth trajectory has been particularly noteworthy in Spain and Portugal, where it has attracted a significant customer base.

Lefties has witnessed a substantial increase in customer numbers in&nbsp;Spain, reaching close to 5 million, just behind Shein's estimated 5.2 million customers.&nbsp;

This trend underscores Inditex's ambition to diversify its consumer base and tap into market segments that may prefer more affordable options, compared to Zara's offerings.

The competition posed by Shein has prompted discussions within Inditex management regarding strategies to effectively compete against the fast-growing online retailer.

While Shein remains unlisted, its significant market share, estimated at 18 per cent by Coresight Research, emphasises the need for Inditex to devise innovative approaches to maintain its competitive edge.

Inditex's decision to keep Lefties' financial results private reflects a cautious approach aimed at allowing the brand to reach critical mass and profitability without undue pressure from competitors.

Lefties is focusing on providing a robust online service and leveraging its low-cost segment. By doing so, it aims to establish itself as a formidable player in the fast fashion market, particularly in regions where competitors like Shein face delivery challenges or lack home delivery options.&nbsp;

(With inputs from Reuters)

Inditex, the parent company of Zara, has embarked on a strategic move to expand its low-priced brand Lefties in response to the growing presence of the Chinese-founded rival Shein.

Inditex, the parent company of Zara, has embarked on a strategic move to expand its low-priced brand Lefties in response to the growing presence of the Chinese-founded rival Shein. Shein's rapid growth in the online marketplace has put pressure on major retailers like Inditex and H&M to devise strategies to tackle its competitive edge. Once a leader in fast fashion, Zara has faced challenges in maintaining its competitive pricing due to Inditex's price hikes aimed at safeguarding profit margins amidst inflation and targeting more upscale clientele. However, Inditex is quietly strengthening its budget-friendly offerings, with the expansion of Lefties being a pivotal aspect of this strategy. Lefties, originally conceived as an outlet for Zara's excess inventory, has evolved into a brand selling jeans for as low as $19.48, dresses starting from $8.65, and handbags priced at $6.48. The expansion of Lefties extends beyond its origins, with stores now present in 17 countries, including emerging markets like Egypt, Mexico, Romania, and Saudi Arabia. This strategic move signals Inditex's commitment to catering to consumers seeking value-oriented options, a market segment that Lefties aims to capture amidst the competitive landscape dominated by Shein. Lefties' growth trajectory has been particularly noteworthy in Spain and Portugal, where it has attracted a significant customer base. Lefties has witnessed a substantial increase in customer numbers in Spain, reaching close to 5 million, just behind Shein's estimated 5.2 million customers. This trend underscores Inditex's ambition to diversify its consumer base and tap into market segments that may prefer more affordable options, compared to Zara's offerings. The competition posed by Shein has prompted discussions within Inditex management regarding strategies to effectively compete against the fast-growing online retailer. While Shein remains unlisted, its significant market share, estimated at 18 per cent by Coresight Research, emphasises the need for Inditex to devise innovative approaches to maintain its competitive edge. Inditex's decision to keep Lefties' financial results private reflects a cautious approach aimed at allowing the brand to reach critical mass and profitability without undue pressure from competitors. Lefties is focusing on providing a robust online service and leveraging its low-cost segment. By doing so, it aims to establish itself as a formidable player in the fast fashion market, particularly in regions where competitors like Shein face delivery challenges or lack home delivery options. (With inputs from Reuters)

Inditex to expand 'Lefties' to counter competition from Shein

There aren't many brands that come to one’s mind when we think of a chocolate biscuit with a vanilla filling had along with a glass of milk apart from Oreos.

Its iconic twist, lick-and-dunk tagline and classic blue packaging have established its place in innumerable childhood recollections globally.

However, Oreo's history is not limited to its delectable flavour. Behind the success of this famous biscuit come&nbsp;clever marketing strategies and cultural adaptation.

In this edition of Flashback Friday we see how this biscuit became a global sensation;&nbsp;making its way to Oreo McFlurries, milkshakes and even cheesecakes.

Early beginnings

In 1912, the National Biscuit Company (later known as Nabisco) sought to broaden its range of cookies.

They present the Oreo, a fresh chocolate sandwich biscuit with a filling of vanilla cream that would contrast the flavours of chocolate.

The biscuit gained popularity fast because to its unique appearance and the taste combination.

However, Oreo was not the first biscuit of its kind. Some sources claimed that Hydrox, which was released by Sunshine Biscuits a few years prior, was the original.

The case is made more intriguing by the historical records suggesting that the founders of Sunshine and Nabisco may have been rival siblings.

Beyond imitation

It would be a disservice to Oreo's inventive spirit to attribute its success to just how similar it is to existing biscuits

Nabisco consistently pushed limits, realising the potential of the sandwich cookie format.

What made Oreos unique was the biscuit's distinctive "snap" attained through a specific baking process.

In order to keep the product brand new and exciting for customers, Oreo also embraced variations, launching flavours including Double Stuf in 1974 and Peanut Butter in 1980.

Marketing magic

The reason behind Oreo's ongoing success is mostly due to its marketing strategies.

The brand has continuously upheld a good and captivating image, from its early days of showcasing quirky characters like "Dunc the Dog" to its present focus on relatable and inclusive advertising campaigns.

In addition to being a global phenomenon, the famous "twist, lick, dunk" ritual—which was made popular by witty commercials—also ingeniously promoted portion control and an original manner to consume the biscuit.

Adapting to a global stage

As Oreo's popularity spread around the globe, Nabisco displayed outstanding cultural awareness.

The company realised that in the global market, a one-size-fits-all strategy would not be effective.

In order to accommodate regional tastes, it introduced regionally distinct flavours, such as matcha in Japan and green tea in China.

Furthermore, marketing efforts were modified to align with various cultural contexts, guaranteeing Oreo's global relevance and connection.

From controversy to collaboration

There have been difficulties along the way for Oreo.

Concerns about the company's sustainability policies and ingredient selection have been raised.

Nevertheless, Nabisco has taken proactive measures to address these worries, including the introduction of healthier choices and the adoption of sustainable sourcing methods.

Furthermore, Oreo has welcomed cooperation, collaborating with other well-known companies like Kit Kat and even releasing co-branded goods, proving its flexibility and ability to change with the times.

There aren't many brands that come to one’s mind when we think of a chocolate biscuit with a vanilla filling had along with a glass of milk apart from Oreos. Its iconic twist, lick-and-dunk tagline and classic blue packaging have established its place in innumerable childhood recollections globally.

There aren't many brands that come to one’s mind when we think of a chocolate biscuit with a vanilla filling had along with a glass of milk apart from Oreos. Its iconic twist, lick-and-dunk tagline and classic blue packaging have established its place in innumerable childhood recollections globally. However, Oreo's history is not limited to its delectable flavour. Behind the success of this famous biscuit come clever marketing strategies and cultural adaptation. In this edition of Flashback Friday we see how this biscuit became a global sensation; making its way to Oreo McFlurries, milkshakes and even cheesecakes. Early beginnings In 1912, the National Biscuit Company (later known as Nabisco) sought to broaden its range of cookies. They present the Oreo, a fresh chocolate sandwich biscuit with a filling of vanilla cream that would contrast the flavours of chocolate. The biscuit gained popularity fast because to its unique appearance and the taste combination. However, Oreo was not the first biscuit of its kind. Some sources claimed that Hydrox, which was released by Sunshine Biscuits a few years prior, was the original. The case is made more intriguing by the historical records suggesting that the founders of Sunshine and Nabisco may have been rival siblings. Beyond imitation It would be a disservice to Oreo's inventive spirit to attribute its success to just how similar it is to existing biscuits Nabisco consistently pushed limits, realising the potential of the sandwich cookie format. What made Oreos unique was the biscuit's distinctive "snap" attained through a specific baking process. In order to keep the product brand new and exciting for customers, Oreo also embraced variations, launching flavours including Double Stuf in 1974 and Peanut Butter in 1980. Marketing magic The reason behind Oreo's ongoing success is mostly due to its marketing strategies. The brand has continuously upheld a good and captivating image, from its early days of showcasing quirky characters like "Dunc the Dog" to its present focus on relatable and inclusive advertising campaigns. In addition to being a global phenomenon, the famous "twist, lick, dunk" ritual—which was made popular by witty commercials—also ingeniously promoted portion control and an original manner to consume the biscuit. Adapting to a global stage As Oreo's popularity spread around the globe, Nabisco displayed outstanding cultural awareness. The company realised that in the global market, a one-size-fits-all strategy would not be effective. In order to accommodate regional tastes, it introduced regionally distinct flavours, such as matcha in Japan and green tea in China. Furthermore, marketing efforts were modified to align with various cultural contexts, guaranteeing Oreo's global relevance and connection. From controversy to collaboration There have been difficulties along the way for Oreo. Concerns about the company's sustainability policies and ingredient selection have been raised. Nevertheless, Nabisco has taken proactive measures to address these worries, including the introduction of healthier choices and the adoption of sustainable sourcing methods. Furthermore, Oreo has welcomed cooperation, collaborating with other well-known companies like Kit Kat and even releasing co-branded goods, proving its flexibility and ability to change with the times.

Flashback Friday: ‘Twist, Lick, Dunk’ - unveiling the sweet story of the Oreo biscuit

<o:p></o:p>

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral. <o:p></o:p>

According to a report by AP news, the recall, announced by the Japanese automaker, encompasses specific Toyota Tundra pickups, Sequoia SUVs, and Lexus LX 600 SUVs manufactured between 2022 and 2024.<o:p></o:p>

According to Toyota, certain components within the vehicles' automatic transmissions may fail to disengage promptly when shifted into neutral, potentially allowing engine power to continue reaching the wheels. <o:p></o:p>

This flaw could result in the vehicles unintentionally moving forward at low speeds on level surfaces, posing an increased risk of accidents if brakes are not applied promptly.<o:p></o:p>

While Toyota has not disclosed any incidents or injuries related to the transmission issue, the company is taking proactive measures to mitigate potential risks.<o:p></o:p>

As part of the recall process, Toyota plans to notify affected vehicle owners by late April and provide necessary updates to the transmission software to rectify the underlying problem. <o:p></o:p>

By updating the software, Toyota aims to ensure the prompt disengagement of the transmission when shifted into neutral, thus preventing any unintended vehicle movement.<o:p></o:p>

This recall announcement is one of three safety recalls issued by Toyota on the same day. <o:p></o:p>

In addition to the transmission issue, Toyota is recalling around 19,000 vehicles due to a software glitch affecting the rearview camera display. <o:p></o:p>

Another recall involves approximately 4,000 Toyota Camry and Camry Hybrid vehicles over safety concerns related to the rear fold-down seat head restraints.<o:p></o:p>

Despite being the world's largest automaker by sales, Toyota has faced safety challenges in recent months, including previous recalls related to airbag deployment issues and safety test forgery by its subsidiary Daihatsu. <o:p></o:p>

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral.

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral. According to a report by AP news, the recall, announced by the Japanese automaker, encompasses specific Toyota Tundra pickups, Sequoia SUVs, and Lexus LX 600 SUVs manufactured between 2022 and 2024. According to Toyota, certain components within the vehicles' automatic transmissions may fail to disengage promptly when shifted into neutral, potentially allowing engine power to continue reaching the wheels. This flaw could result in the vehicles unintentionally moving forward at low speeds on level surfaces, posing an increased risk of accidents if brakes are not applied promptly. While Toyota has not disclosed any incidents or injuries related to the transmission issue, the company is taking proactive measures to mitigate potential risks. As part of the recall process, Toyota plans to notify affected vehicle owners by late April and provide necessary updates to the transmission software to rectify the underlying problem. By updating the software, Toyota aims to ensure the prompt disengagement of the transmission when shifted into neutral, thus preventing any unintended vehicle movement. This recall announcement is one of three safety recalls issued by Toyota on the same day. In addition to the transmission issue, Toyota is recalling around 19,000 vehicles due to a software glitch affecting the rearview camera display. Another recall involves approximately 4,000 Toyota Camry and Camry Hybrid vehicles over safety concerns related to the rear fold-down seat head restraints. Despite being the world's largest automaker by sales, Toyota has faced safety challenges in recent months, including previous recalls related to airbag deployment issues and safety test forgery by its subsidiary Daihatsu.

Toyota issues recall for 280,000 vehicles over transmission flaw: Report

In a financial twist, India has become the unexpected star in HSBC's profit galaxy, surpassing China and securing its position as the third-largest profitable region for the Hong Kong and Shanghai Banking Corp Ltd (HSBC) in 2023. <o:p></o:p>

The financial giant revealed a 25 per cent surge in profit from its India operations, reaching an impressive $1.5 billion for the fiscal year ending December 2023. <o:p></o:p>

This shift marks a significant leap for India, considering it generated a profit of $1.2 billion in 2022.<o:p></o:p>

The annual report from HSBC unveiled key insights into the factors driving India's stellar performance. <o:p></o:p>

One of the pivotal contributors was a notable reduction in anticipated credit loss provisions, dropping from $90 million in 2022 to $51 million in 2023. <o:p></o:p>

The global banking and markets segment emerged as HSBC's primary revenue source in India, boasting a robust 24 per cent profit increase to $774 million in 2023 from $622 million the previous year. <o:p></o:p>

Additionally, the commercial banking sector, catering to small and medium enterprises (SMEs), witnessed a remarkable 31 per cent surge in pre-tax profit, reaching $398 million.<o:p></o:p>

HSBC's positive outlook for India stems from its recognition of the nation's economic potential. <o:p></o:p>

The bank highlighted that India, along with Vietnam, is among the fastest-growing economies globally, benefiting from competitive labour costs, supportive policies, and evolving supply chains. <o:p></o:p>

With 42,000 employees in India operations, HSBC predicts that the economies of South and Southeast Asia will carry strong economic momentum into 2024.<o:p></o:p>

The contrasting fortunes of India and China in HSBC's financial landscape become even more apparent when comparing their profit trajectories. <o:p></o:p>

While India soared with a 25 per cent profit increase, China experienced an 89 per cent decline in profit, plummeting from $3.40 billion in 2022 to a mere $371 million in 2023. <o:p></o:p>

This drastic shift in China's financial standing was attributed to losses incurred in wealth management, personal banking, and corporate centre verticals.<o:p></o:p>

HSBC, recognising the potential for further growth, aims to bolster its wholesale franchise by tapping into corporate supply chains in India. <o:p></o:p>

The bank is also capitalising on the wealth pools of the Indian diaspora with the launch of onshore Global Private Banking. <o:p></o:p>

With an optimistic outlook, HSBC envisions the economies of south and southeast Asia, particularly India and Vietnam, continuing to thrive in 2024, driven by competitive labour costs, supportive policies, and dynamic supply chains.<o:p></o:p>

(With inputs from PTI)<o:p></o:p>

In a financial twist, India has become the unexpected star in HSBC's profit galaxy, surpassing China and securing its position as the third-largest profitable region for the Hong Kong and Shanghai Banking Corp Ltd (HSBC) in 2023.

In a financial twist, India has become the unexpected star in HSBC's profit galaxy, surpassing China and securing its position as the third-largest profitable region for the Hong Kong and Shanghai Banking Corp Ltd (HSBC) in 2023. The financial giant revealed a 25 per cent surge in profit from its India operations, reaching an impressive $1.5 billion for the fiscal year ending December 2023. This shift marks a significant leap for India, considering it generated a profit of $1.2 billion in 2022. The annual report from HSBC unveiled key insights into the factors driving India's stellar performance. One of the pivotal contributors was a notable reduction in anticipated credit loss provisions, dropping from $90 million in 2022 to $51 million in 2023. The global banking and markets segment emerged as HSBC's primary revenue source in India, boasting a robust 24 per cent profit increase to $774 million in 2023 from $622 million the previous year. Additionally, the commercial banking sector, catering to small and medium enterprises (SMEs), witnessed a remarkable 31 per cent surge in pre-tax profit, reaching $398 million. HSBC's positive outlook for India stems from its recognition of the nation's economic potential. The bank highlighted that India, along with Vietnam, is among the fastest-growing economies globally, benefiting from competitive labour costs, supportive policies, and evolving supply chains. With 42,000 employees in India operations, HSBC predicts that the economies of South and Southeast Asia will carry strong economic momentum into 2024. The contrasting fortunes of India and China in HSBC's financial landscape become even more apparent when comparing their profit trajectories. While India soared with a 25 per cent profit increase, China experienced an 89 per cent decline in profit, plummeting from $3.40 billion in 2022 to a mere $371 million in 2023. This drastic shift in China's financial standing was attributed to losses incurred in wealth management, personal banking, and corporate centre verticals. HSBC, recognising the potential for further growth, aims to bolster its wholesale franchise by tapping into corporate supply chains in India. The bank is also capitalising on the wealth pools of the Indian diaspora with the launch of onshore Global Private Banking. With an optimistic outlook, HSBC envisions the economies of south and southeast Asia, particularly India and Vietnam, continuing to thrive in 2024, driven by competitive labour costs, supportive policies, and dynamic supply chains. (With inputs from PTI)

India surpasses China, emerges as HSBC's third-largest profit hub in 2023

Electric vehicle (EV) startups Rivian and Lucid have adjusted their production forecasts for 2024, citing challenges in the market landscape and persistent borrowing costs hindering consumer adoption of battery-powered cars.

Rivian, backed by Amazon, announced a 10 per cent reduction in its workforce and revealed plans for a production shutdown to upgrade efficiency and cut costs.

As a result, Rivian anticipates producing 57,000 vehicles in 2024, falling significantly below analysts' estimates of 81,700 units. The company's CEO, RJ Scaringe, highlighted macro-level challenges such as high interest rates and geopolitical risks affecting consumer behavior.

Despite recent efforts to introduce lower-range options at reduced prices, Rivian faces dwindling order books and expects deliveries for the current quarter to be lower than the previous quarter.

Rivian's strategy also involves mitigating cash burn by renegotiating supply contracts and internal component production.

The company anticipates margin improvement by the end of the year, emphasising the importance of its upcoming R2 SUV unveiling to sustain momentum. Investor Vitaly Golomb noted the significance of Rivian's smaller and cheaper SUV in expanding its market appeal.

Production for the R2 SUV is slated to commence in 2026. Meanwhile, Lucid, another EV player, aims to broaden its customer base with the introduction of a mid-size car targeting a $50,000 price point by late 2026.

CEO Peter Rawlinson indicated a strategic shift towards competing with Tesla's Model Y and Model 3, foreseeing a substantial increase in Lucid's total addressable market.

Lucid, known for its Air luxury electric sedans, has also adjusted its production forecast for 2024, signaling a divergence from Wall Street's expectations.

The company plans to produce 9,000 units this year, up from 8,428 vehicles in 2023, a figure significantly lower than analysts' estimates. Lucid has been slashing prices of its Air sedans as it readies for the launch of its Gravity SUV later this year.

The company's future focus lies in expanding its product lineup to cater to a wider range of consumers and enhance competitiveness in the EV market.

(With inputs from Reuters)

Electric vehicle (EV) startups Rivian and Lucid have adjusted their production forecasts for 2024, citing challenges in the market landscape and persistent borrowing costs hindering consumer adoption of battery-powered cars.

Electric vehicle (EV) startups Rivian and Lucid have adjusted their production forecasts for 2024, citing challenges in the market landscape and persistent borrowing costs hindering consumer adoption of battery-powered cars. Rivian, backed by Amazon, announced a 10 per cent reduction in its workforce and revealed plans for a production shutdown to upgrade efficiency and cut costs. As a result, Rivian anticipates producing 57,000 vehicles in 2024, falling significantly below analysts' estimates of 81,700 units. The company's CEO, RJ Scaringe, highlighted macro-level challenges such as high interest rates and geopolitical risks affecting consumer behavior. Despite recent efforts to introduce lower-range options at reduced prices, Rivian faces dwindling order books and expects deliveries for the current quarter to be lower than the previous quarter. Rivian's strategy also involves mitigating cash burn by renegotiating supply contracts and internal component production. The company anticipates margin improvement by the end of the year, emphasising the importance of its upcoming R2 SUV unveiling to sustain momentum. Investor Vitaly Golomb noted the significance of Rivian's smaller and cheaper SUV in expanding its market appeal. Production for the R2 SUV is slated to commence in 2026. Meanwhile, Lucid, another EV player, aims to broaden its customer base with the introduction of a mid-size car targeting a $50,000 price point by late 2026. CEO Peter Rawlinson indicated a strategic shift towards competing with Tesla's Model Y and Model 3, foreseeing a substantial increase in Lucid's total addressable market. Lucid, known for its Air luxury electric sedans, has also adjusted its production forecast for 2024, signaling a divergence from Wall Street's expectations. The company plans to produce 9,000 units this year, up from 8,428 vehicles in 2023, a figure significantly lower than analysts' estimates. Lucid has been slashing prices of its Air sedans as it readies for the launch of its Gravity SUV later this year. The company's future focus lies in expanding its product lineup to cater to a wider range of consumers and enhance competitiveness in the EV market. (With inputs from Reuters)

EV startups Rivian and Lucid adjust 2024 production forecasts amid market challenges

Amid a relentless surge in natural gas output, US gas producers find themselves grappling with plummeting prices and mounting losses. Despite efforts to curtail production, including the closure of wells and project cancellations, the market continues to be flooded with supply.

As a result, natural gas prices have hit an inflation-adjusted 30-year low of $1.59 per thousand cubic feet, severely impacting producers' bottom lines. While consumers benefit from cheaper fuel, producers face significant challenges in sustaining profitability.

Denver-based BKV Corp exemplifies the struggles faced by gas producers in this current climate. Despite significant investments totaling $2.7 billion over five years, including acquisitions of gas wells and power plants, BKV's plans for expansion and carbon capture initiatives have been derailed by the nosedive in gas prices.

The company's ambitions, including an initial public offering and carbon joint ventures, have been put on hold as it grapples with the adverse market conditions. BKV's CEO, Christopher Kalnin, expressed determination to weather the storm, affirming the company's commitment to its long-term goals.

The decline in US gas prices has dealt a severe blow to BKV's financial performance, with profits plummeting from $410 million to approximately $79 million in its most recent reporting period. Despite efforts by US gas firms to reduce drilling activity by 22 per cent, production levels remain robust, exacerbating the oversupply situation.

The surge in output, driven in part by oil companies viewing gas as a byproduct of their operations, has contributed to the pricing woes faced by gas producers. Nicholas O'Grady, CEO of Northern Oil and Gas, noted the insensitivity of gas production to price fluctuations, further complicating the market dynamics.

Despite the current challenges, industry experts remain cautiously optimistic about the future outlook for natural gas prices. Forecasts suggest a potential rebound in prices by 2025, driven by increased demand from liquefied natural gas (LNG) exports.

Several US projects with export permits are in the pipeline, offering hope for a turnaround in fortunes for gas producers. However, concerns linger over potential delays or setbacks, particularly in light of regulatory uncertainties surrounding new gas-export permits under the Biden administration.

In response to the adverse market conditions, some US natural gas producers have announced measures to mitigate losses. Comstock Resources, for instance, has decided to reduce the number of rigs in operation and suspend dividend payments until gas prices recover sufficiently.

Similarly, Antero Resources has opted to scale back drilling activities and project spending in response to the challenging operating environment. The convergence of factors such as oversupply, tepid demand, and regulatory uncertainties poses significant hurdles for gas producers navigating the current market landscape.

Regardless of setbacks, industry players remain resilient, banking on future demand growth and regulatory clarity to drive a recovery in gas prices. As the market continues to evolve, the ability of producers to adapt and innovate will be critical in navigating the complexities of the energy landscape.

(With inputs from Reuters)

Amid a relentless surge in natural gas output, US gas producers find themselves grappling with plummeting prices and mounting losses. Despite efforts to curtail production, including the closure of wells and project cancellations, the market continues to be flooded with supply.

Amid a relentless surge in natural gas output, US gas producers find themselves grappling with plummeting prices and mounting losses. Despite efforts to curtail production, including the closure of wells and project cancellations, the market continues to be flooded with supply. As a result, natural gas prices have hit an inflation-adjusted 30-year low of $1.59 per thousand cubic feet, severely impacting producers' bottom lines. While consumers benefit from cheaper fuel, producers face significant challenges in sustaining profitability. Denver-based BKV Corp exemplifies the struggles faced by gas producers in this current climate. Despite significant investments totaling $2.7 billion over five years, including acquisitions of gas wells and power plants, BKV's plans for expansion and carbon capture initiatives have been derailed by the nosedive in gas prices. The company's ambitions, including an initial public offering and carbon joint ventures, have been put on hold as it grapples with the adverse market conditions. BKV's CEO, Christopher Kalnin, expressed determination to weather the storm, affirming the company's commitment to its long-term goals. The decline in US gas prices has dealt a severe blow to BKV's financial performance, with profits plummeting from $410 million to approximately $79 million in its most recent reporting period. Despite efforts by US gas firms to reduce drilling activity by 22 per cent, production levels remain robust, exacerbating the oversupply situation. The surge in output, driven in part by oil companies viewing gas as a byproduct of their operations, has contributed to the pricing woes faced by gas producers. Nicholas O'Grady, CEO of Northern Oil and Gas, noted the insensitivity of gas production to price fluctuations, further complicating the market dynamics. Despite the current challenges, industry experts remain cautiously optimistic about the future outlook for natural gas prices. Forecasts suggest a potential rebound in prices by 2025, driven by increased demand from liquefied natural gas (LNG) exports. Several US projects with export permits are in the pipeline, offering hope for a turnaround in fortunes for gas producers. However, concerns linger over potential delays or setbacks, particularly in light of regulatory uncertainties surrounding new gas-export permits under the Biden administration. In response to the adverse market conditions, some US natural gas producers have announced measures to mitigate losses. Comstock Resources, for instance, has decided to reduce the number of rigs in operation and suspend dividend payments until gas prices recover sufficiently. Similarly, Antero Resources has opted to scale back drilling activities and project spending in response to the challenging operating environment. The convergence of factors such as oversupply, tepid demand, and regulatory uncertainties poses significant hurdles for gas producers navigating the current market landscape. Regardless of setbacks, industry players remain resilient, banking on future demand growth and regulatory clarity to drive a recovery in gas prices. As the market continues to evolve, the ability of producers to adapt and innovate will be critical in navigating the complexities of the energy landscape. (With inputs from Reuters)

US natural gas producers struggle amid record supplies and plummeting prices

At a technology conference in San Jose, California, Intel announced its ambitious plans to regain dominance in the semiconductor industry by surpassing its main competitor, Taiwan Semiconductor Manufacturing Co (TSMC).

 
The chipmaker revealed that Microsoft intends to utilise its services to manufacture a custom computing chip, marking a significant step in Intel's efforts to secure substantial foundry orders.

 
With the unveiling of its Intel 18A manufacturing technology, the company aims to reclaim the title of producing the world's fastest chips from TSMC, with plans to extend this lead into 2026 with the introduction of Intel 14A.

 
Intel's CEO, Pat Gelsinger, who set the deadline of 2025 to reclaim the chipmaking crown when he assumed leadership three years ago, expressed confidence in the company's trajectory.

 
This strategic move not only highlights Intel's determination but also underline its readiness to leverage cutting-edge technologies to meet evolving market demands. 
For decades, Intel maintained its position by exclusively producing chips for itself, leveraging its advanced manufacturing capabilities to lead the industry in performance.

 
However, the loss of this manufacturing edge led to declining competitiveness and margins, necessitating a revitalisation effort. Recognising the importance of innovation and external partnerships, Intel is banking on substantial investments from the US government and collaborations with diverse customers to fuel its resurgence. By diversifying its clientele and expanding its geographical presence, Intel aims to offer an attractive alternative to TSMC's concentrated manufacturing facilities in Taiwan. 
Stu Pann, the executive overseeing Intel Foundry, emphasised the appeal of Intel's geographic diversity, stating, "It's a sales pitch that's resonating right now. People want that."

 
Intel's outreach to potential customers extends beyond promises of technological prowess, aiming to provide a compelling value proposition encompassing reliability and accessibility.

 
While the identity of Intel's four "large" customers for its 18A manufacturing technology remains undisclosed, the collaboration with Arm Holdings and academic institutions like the University of California Berkeley and the University of Michigan underscores Intel's commitment to fostering innovation and knowledge sharing.

 
Intel's collaboration with Arm Holdings signifies its openness to integrating diverse technologies into its manufacturing processes, potentially expanding its market reach. 
Moreover, the partnership with leading academic institutions underscores Intel's commitment to nurturing talent and fostering technological advancements. As Intel ventures into uncharted territory, analysts remain cautiously optimistic about the company's turnaround prospects.

 
Ben Bajarin, chief executive of consulting firm Creative Strategies, acknowledges the significance of Intel's efforts to attract external customers but underscores the need for patience in assessing their effectiveness.

 
(With inputs from Reuters)

At a technology conference in San Jose, California, Intel announced its ambitious plans to regain dominance in the semiconductor industry by surpassing its main competitor, Taiwan Semiconductor Manufacturing Co (TSMC).

At a technology conference in San Jose, California, Intel announced its ambitious plans to regain dominance in the semiconductor industry by surpassing its main competitor, Taiwan Semiconductor Manufacturing Co (TSMC). The chipmaker revealed that Microsoft intends to utilise its services to manufacture a custom computing chip, marking a significant step in Intel's efforts to secure substantial foundry orders. With the unveiling of its Intel 18A manufacturing technology, the company aims to reclaim the title of producing the world's fastest chips from TSMC, with plans to extend this lead into 2026 with the introduction of Intel 14A. Intel's CEO, Pat Gelsinger, who set the deadline of 2025 to reclaim the chipmaking crown when he assumed leadership three years ago, expressed confidence in the company's trajectory. This strategic move not only highlights Intel's determination but also underline its readiness to leverage cutting-edge technologies to meet evolving market demands. For decades, Intel maintained its position by exclusively producing chips for itself, leveraging its advanced manufacturing capabilities to lead the industry in performance. However, the loss of this manufacturing edge led to declining competitiveness and margins, necessitating a revitalisation effort. Recognising the importance of innovation and external partnerships, Intel is banking on substantial investments from the US government and collaborations with diverse customers to fuel its resurgence. By diversifying its clientele and expanding its geographical presence, Intel aims to offer an attractive alternative to TSMC's concentrated manufacturing facilities in Taiwan. Stu Pann, the executive overseeing Intel Foundry, emphasised the appeal of Intel's geographic diversity, stating, "It's a sales pitch that's resonating right now. People want that." Intel's outreach to potential customers extends beyond promises of technological prowess, aiming to provide a compelling value proposition encompassing reliability and accessibility. While the identity of Intel's four "large" customers for its 18A manufacturing technology remains undisclosed, the collaboration with Arm Holdings and academic institutions like the University of California Berkeley and the University of Michigan underscores Intel's commitment to fostering innovation and knowledge sharing. Intel's collaboration with Arm Holdings signifies its openness to integrating diverse technologies into its manufacturing processes, potentially expanding its market reach. Moreover, the partnership with leading academic institutions underscores Intel's commitment to nurturing talent and fostering technological advancements. As Intel ventures into uncharted territory, analysts remain cautiously optimistic about the company's turnaround prospects. Ben Bajarin, chief executive of consulting firm Creative Strategies, acknowledges the significance of Intel's efforts to attract external customers but underscores the need for patience in assessing their effectiveness. (With inputs from Reuters)

Intel unveils ambitious plans to overtake TSMC with advanced chip manufacturing technologies

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Shashwat Sankranti

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