In this newsletter:
Market Watch
Company Expansions
New Funding
Headquarters Moving
Executives on the Move
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MARKET WATCH
The semiconductor decade: A trillion-dollar industry
The semiconductor industry faced supply shortages that disrupted the production of various goods and highlighted their crucial role in the global economy. Despite these challenges, the industry is projected to reach a value of $1 trillion by 2030, driven by factors such as digital transformation, remote work, AI, and electric vehicles. Automotive and computation/data storage segments are expected to experience significant growth, while decision-makers should focus on strategic areas like R&D and sourcing to capitalize on opportunities in the expanding semiconductor market. | Source
Global Automotive Artificial Intelligence Market to Reach $14.8 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Automotive Artificial Intelligence estimated at US$3.2 Billion in the year 2022, is projected to reach a revised size of US$14.8 Billion by 2030, growing at a CAGR of 20.9% over the analysis period 2022-2030. Software, one of the segments analyzed in the report, is projected to record 22.5% CAGR and reach US$9.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hardware segment is readjusted to a revised 18.4% CAGR for the next 8-year period. | Source
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COMPANY EXPANSIONS
GM, Samsung EV battery cell plant to be built in Indiana
06.13.23 - General Motors (GM) and Samsung are collaborating to build a $3 billion battery cell plant in Indiana, as reported by The Detroit News. This joint venture aims to address the growing demand for electric vehicles (EVs) and establish a domestic battery supply chain in the United States. The new facility, known as the Ultium Cells LLC plant, will be located in central Indiana and is expected to create approximately 1,800 jobs. The plant will produce Ultium batteries, which will be used in various GM electric vehicles, including the GMC Hummer EV and Cadillac Lyriq. This investment signifies a significant step toward the expansion of GM's electric vehicle portfolio and the acceleration of the industry's shift towards sustainable transportation. | Source
Rio Tinto to expand aluminum smelter with $1.4B investment using greener technology
06.12.23 - Rio Tinto, a global mining company, has announced plans to invest $14 billion in expanding its aluminum smelter facility using greener technology, as reported by The Star. The project aims to enhance sustainability and reduce greenhouse gas emissions associated with aluminum production. The investment will enable Rio Tinto to implement advanced technologies, including renewable energy sources and improved smelting processes, to make the facility more energy-efficient and environmentally friendly. This expansion project aligns with the company's commitment to transitioning to a low-carbon economy and meeting the increasing demand for sustainable aluminum products. It represents a significant step towards greener practices in the mining industry and supports the global efforts to combat climate change. | Source
Accenture to Invest $3 Billion in AI to Accelerate Clients’ Reinvention
06.13.23 - Accenture, a leading global professional services company, has announced a plan to invest $3 billion in artificial intelligence (AI) technology to facilitate the transformation of its clients' businesses, as reported in Accenture's newsroom. The investment aims to help clients adopt and integrate AI solutions to drive innovation, improve operational efficiency, and accelerate their overall reinvention. Accenture intends to focus on enhancing its AI capabilities across various industries, such as healthcare, finance, and retail. By leveraging AI technologies, such as machine learning, natural language processing, and computer vision, Accenture aims to empower its clients to make more informed decisions, automate processes, and create personalized experiences for their customers. This substantial investment demonstrates Accenture's commitment to driving digital transformation and leveraging AI as a strategic enabler for its clients' success in an increasingly competitive business landscape. | Source