Most Read Articles – Imagination Recruitment, ARM Cuts, Shenzhen Shutdown
What are the topics covered? There’s an Intel factory planned for Magdeburg, Shenzhen hit by Covid cases, Arm downsizing, Alphawave buying the OpenFive business unit from SiFive, and Imagination Technologies looking to hire around 250 people…
5. Germany pays $5.5 billion for Intel factory
Germany is ready to shell out more than $5.5 billion in grants to secure the Magdeburg site for its $18.7 billion 2nm fab, Bloomberg reports. Intel’s plan is to start building the fab next year and have it live in 2027. Whether or not additional funds are available from the EU is unknown. The EU chip law is budgeted at $48 billion, but where the money will come from is unclear. It appears that only €5 billion – or 15% of the Chip Law budget – comes from direct EU funding and the rest is to be recovered from already allocated expenditure.
4. Shenzhen closes down
Shenzhen, a city of 17.5 million people, has been locked down due to 66 Covid cases. The lockdown is expected to last a week. A city health official, Lin Hancheng, told a press conference, “If prevention and control are not strengthened in a timely and decisive manner, it could easily become large-scale community transmission.” . The decision caused Foxconn to close operations at two factories in the city.
3. Arm to cut 12-15% of labor
Arm is to cut between 12% and 15% of its workforce, the Telegraph reports, with the cuts coming mainly from the UK and the US. CEO Rene Haas emailed staff saying, “It’s going to be a tough time for everyone, so I want to be clear on why we’re doing this. To succeed in the opportunities available to us, we need to be more disciplined about our costs and our investments. To stay competitive, we need to eliminate duplication of work now that we are one arm; stop work that is no longer essential to our future success; and think about how we do the job.
2. Alphawave acquires OpenFive
Alphawave acquires the OpenFive business unit from SiFive. All definitive agreements have been reached and the transaction is expected to close in the second half of 2022 pending customary regulatory approvals. OpenFive brings a high-speed connectivity SoC IP portfolio to Alphawave and a team based in India and Silicon Valley that has been delivering custom silicon solutions for 15 years. The acquisition is expected to significantly increase Alphawave’s global customer base from 20 currently to over 75.
1. Imagination wants to hire 250 people
Imagination Technologies aims to increase its global workforce by more than 30% in 2022, from 800 to approximately 1050 people. 2021 was a strong year for Imagination, which saw growth across all key industries and geographies, with significant adoption of existing solutions complemented by new product launches. Based on current momentum, the company expects revenue and earnings growth to continue in 2022 and beyond. Imagination opened its Cambridge office in August 2021 to complement its Bristol office and Kings Langley head office.