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Foxconn - 1 — - 1 Jensen Huang - 1 Huang - 1 Foxconn didn't - 1 Jonathan Gray - 1 Blackstone - 1
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3 mentions found


☆ Get ready for 'AI factories'
  + stars: | 2023-10-18 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +4 min
Nvidia is expanding its partnership with Foxconn to build data centers called "AI factories." The aim is for the AI factories to enable development of robots, self-driving cars, and generative AI services. AdvertisementAdvertisementCountries like the US are seeing a factory boom — and so-called "AI factories" could follow. "And the data centers that produce it are AI factories." The announcement of the AI factories comes as major technology companies like Microsoft invest billions into AI-efforts like building new data centers in an effort to cash in on the generative AI hype.
Persons: Foxconn, —, Jensen Huang, Huang, Foxconn didn't, Jonathan Gray, Blackstone Organizations: Nvidia, Service, Foxconn, Hon, Reuters, Microsoft, Research, University of Massachusetts Locations: Taipei, San Francisco and New York, Sweden, Netherlands
☆ Lordstown Motors warns of bankruptcy after Foxconn threatens to walk away from crucial funding deal
  + stars: | 2023-05-01 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com   time to read: +2 min
Shares of electric vehicle startup Lordstown Motors disclosed on Monday that a funding deal with Foxconn is in jeopardy – and that it may go bankrupt if the deal doesn't happen. Foxconn paid the first $52.7 million due under that deal last year, but the remainder – and the deal itself – is now in jeopardy. That approval was secured on April 25, Lordstown said, meaning that Foxconn is obliged to make that investment by May 8. According to Lordstown, that plan hasn't been finalized because Foxconn isn't making "commercially reasonable efforts" to finish it. Lordstown warned in the filing that it may be forced to file for bankruptcy protection if the Foxconn deal falls through.
☆ Apple faces shortfall of 6 million iPhone Pros because protests against COVID-19 restrictions are impacting production, report says
  + stars: | 2022-11-28 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +3 min
Apple faces shortfall of six million iPhone Pros due to mass protests in China, per Bloomberg. Workers at the world's largest iPhone factory have protested against pay and COVID-19 rules. Apple and Foxconn project they'll make up for the shortfall in six million iPhone Pros next year, the person added. Protests started erupting at the world's biggest iPhone factory on Tuesday over withheld pay and harsh pandemic-related restrictions. The payment is more than the average monthly wage for the factory workers, per Bloomberg.
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