Thu. 10/17 – Sigh Of Relief From Chip Stocks

Oct 17, 2024 17m

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Now Amazon is building some modular nuclear reactors. TSMC’s results cheer up the chips industry. Uber but for buying plane tickets. No, I mean, really, use Uber to buy plane tickets. And the controversial reason Meta is reportedly laying off some folks.

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Amazon's Nuclear Venture

Amazon is making large strides in renewable energy by signing three deals to support small modular nuclear reactors (SMRs) across several U.S. states. These agreements include a significant investment of over $500 million from Amazon Web Services aimed at developing SMRs to power its growing data center operations, enhancing its commitment to sustainability and achieving net zero carbon emissions by 2040. Notably, the SMRs will provide crucial power to Virginia, an area densely populated with data centers that handle a significant portion of the world’s internet traffic.

TSMC's Positive Earnings and AI Boom

TSMC recently reported impressive third-quarter earnings, with a year-on-year revenue increase of 39% largely attributed to strong sales of NVIDIA's AI chips. This performance has boosted confidence within the chip sector, alleviating concerns sparked by ASML's disappointing recovery in other markets. TSMC's CEO expressed optimism about ongoing AI demand, stating that they are well-positioned to navigate potential downturns, reflecting a resilient semiconductor market.

FTC's Click-to-Cancel Rule

The U.S. Federal Trade Commission (FTC) has finalized a new rule requiring companies to simplify the cancellation process for subscriptions, mandating that the method of cancellation must not be more complicated than the method of subscription. This rule aims to protect consumers from deceptive practices, ensuring they can effortlessly end subscriptions, which has been a growing concern highlighted by various lawsuits against high-profile companies.

Uber Explores Acquisition of Expedia

In a move to transform into a super app, Uber is reportedly considering an acquisition of Expedia, potentially its largest deal yet. This exploration aligns with Uber's strategy of expanding beyond ride-hailing into various travel bookings and services. However, the discussions are still in the early stages, with no formal proposals made yet.

Meta's Layoff Controversy

Meta has made headlines for laying off approximately 24 employees across its platforms like WhatsApp and Instagram, reportedly in connection with policy violations regarding meal credits. The firings have sparked a conversation regarding the company’s stringent policies and reorganization efforts, which have raised eyebrows amidst ongoing financial scrutiny and internal restructuring.

Analogue’s New Console Launch

The company Analogue has announced their upcoming console, the Analogue 3D, inspired by the Nintendo 64. It features modern technology for upscaling classic games to 4K and is backward compatible with original N64 cartridges. This console, which includes various new capabilities while keeping the nostalgic elements intact, will be available for pre-order soon.