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Tesla’s solution to the global chip shortage

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Tesla is set to pay in advance for chips to avoid a shortage.

It’s an unusual step for the car manufacturer, but Tesla wants to secure the supply to overcome the global chip shortage.

According to sources reported by the Financial Times, Tesla is also exploring buying a plant in an effort to secure further supply.

The US electric-car maker is discussing the proposals to secure chip supply., with industry operators in Taiwan, South Korea and the US.

Tesla needs the newest generation mass-production chips. These are made mainly in Taiwan and South Korea.

Financial Times notes their source are people who work at semiconductor industry suppliers, chipmakers and consultancies.

“Given the prohibitive costs that would be involved, they said such an acquisition would be difficult.”

When will the global chip shortage end?

It’s quite baffling, where did it all begin? What impact is it having on us?

All tech objects in your home have these chips. With the tech sector heavily impacted, the automotive and the health industry as well.

Click the video for what you need to know

Tesla’s new data storage facility in China

Elon Musk’s Tesla has revealed a new facility in China that will locally store data from Tesla vehicles. The company says that data generated by all cars it sells in the country would be stored locally.

The company led by billionaire Elon Musk is manufacturing Model 3 sedans and Model Y sport-utility vehicles in China.

Tesla added it would expand its data centre network in China. The company’s shares were last down 0.7%.

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Money

Nvidia’s market dominance is driving Wall Street to new records

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Nvidia’s stellar results propel Wall Street to unprecedented heights.

Nvidia’s latest financial results have become the catalyst for Wall Street’s surge to record highs.

The renowned graphics processing unit (GPU) manufacturer reported exceptional performance, beating market expectations and instilling newfound confidence in investors.

Nvidia’s revenue and earnings exceeded projections, driven by robust demand for its GPUs across various sectors, including gaming, artificial intelligence, and data centres.

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Money

How the Australian market reached its 15-year high

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Australia’s financial landscape is experiencing a historic surge as the market reaches 15-year highs, prompting investors to delve into the key factors driving this remarkable growth.

The Australian economy has demonstrated resilience and adaptability, navigating global challenges to emerge as a standout performer in the post-pandemic era.

A confluence of factors has contributed to the Australian market’s ascent. Strong economic fundamentals, including robust GDP growth and low unemployment rates, have instilled confidence among investors.

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Rate hike fears loom for New Zealand following RBNZ meeting

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As the Reserve Bank of New Zealand (RBNZ) convenes for its latest meeting, speculations are rife regarding the possibility of a rate hike and the potential repercussions for the market.

With the global economic landscape in a state of flux, central banks play a crucial role in shaping monetary policies to navigate uncertainties and spur economic recovery.

Analysts and investors are closely monitoring the RBNZ’s statements and actions, particularly regarding interest rates.

Speculation is mounting that the central bank may consider a rate hike to address concerns related to inflation and to align with global trends.

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