Biden tours Samsung plant in South Korea, advocates for legislation to boost chip making
This post was originally published on this siteBiden began a five-day trip to Asia in South Korea where he wants to deepen economic and security cooperation with the world’s 10th largest economy.
Elon Musk: Twitter deal ‘temporarily on hold’ over estimates of spam accounts
This post was originally published on this siteElon Musk tweeted Friday his deal to acquire Twitter is ‘temporarily on hold’ to review data on spam and fake accounts on the platform.
Tech Stocks Are Entering an Age of Uncertainty
This post was originally published on this siteFacebook, Netflix, Zoom and others are suffering in the markets as investors reassess their lockdown darlings. But they will rise again.
Global Chip Shortage’s Latest Worry: Too Few Chips for Chip-Making
This post was originally published on this siteIntel and TSMC are looking to boost chip output amid supercharged demand, but getting the equipment to do so requires increasing patience.
Russia Uses Cyberattacks in Ukraine to Support Military Strikes, Report Finds
This post was originally published on this siteA new study by Microsoft shows that Russian cyberattacks often happened within days or even hours of missile strikes.
Biden’s tech agenda gets a reality check as Elon Musk buys Twitter
This post was originally published on this siteWashington’s hands are largely tied as the world’s richest person acquires an influential social network, an impact of the regulatory void around social media companies.
Twitter shares jump 5% on reports it’s close to a deal with Elon Musk
This post was originally published on this siteTwitter might be more open to considering Elon Musk’s bid for the company after the billionaire outlined his plan to finance the deal.
Elon Musk is reportedly in advanced talks to buy Twitter
Elon Musk and Twitter’s board of directors were in advanced talks early Monday over Musk’s unsolicited bid to buy the company for $43 billion, The New York Times and The Wall Street Journal report. Twitter’s board met Sunday morning to discuss Musk’s $54.20-a-share offer, and while the board was originally expected to rebuff the bid outright, Musk’s disclosure that he had put together commitments to finance the deal was “a turning point” for the board, the Times says.
“The two sides were discussing details including a timeline to close any potential deal and any fees that would be paid if an agreement were signed and then fell apart,” the Times reports. Wall Street will likely view Musk’s offer views as “the beginning of the end for Twitter as a public company with Musk likely now on a path to acquire the company unless a second bidder comes into the mix,” Wedbush Securities Dan Ives wrote in an investor note on Sunday.
Musk, the founder Tesla and SpaceX, is believed to be the world’s wealthiest person.
Congress seeks compromise to boost computer chip industry
This post was originally published on this siteCongress is looking to boost computer chip manufacturing and research in the United States with billions of dollars from the federal government.
Elon Musk makes ‘best and final offer’ to buy Twitter
Elon Musk isn’t satisfied with a 9.2 percent stake in Twitter. He wants the whole thing.
The Tesla CEO has offered to buy Twitter for $54.20 per share in cash, or $43 billion, according to a filing with the Securities and Exchange Commission.
The move comes after Musk purchased a 9.2 percent stake in Twitter, which made him the company’s largest outside shareholder. He had previously been critical of Twitter, suggesting it does not facilitate free speech.
In the SEC filing, Musk says he “invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.” But he continues, “Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Musk says this is his “best and final offer,” and if it isn’t accepted, “I would need to reconsider my position as a shareholder.”
After Musk’s 9.2 percent stake in Twitter was revealed, the company initially announced he would also become a board member. “Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our board,” Twitter CEO Parag Agrawal said, while Musk promised to work with Twitter to make “significant improvements.”
But in a surprise reversal, just days later, Agrawal announced Musk wouldn’t be joining the board after all. “I believe this is for the best,” Agrawal said. Had Musk become a board member, he would agree not to purchase more than a 14.9 percent stake in Twitter, so the announcement sparked speculation he could plan to increase his stake or try to buy the company.
In his SEC filing, Musk says that “Twitter has extraordinary potential,” adding, “I will unlock it.”
