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Rivian adds additional funding in investment round
The electrics car manufacturer says it has closed an investment round of USD 2.5 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc.
“We are excited to continue this journey with Rivian’s innovative and talented team as they now prepare to deliver their groundbreaking products that help shift to a carbon-neutral planet,” says Joe Fath, portfolio manager of T. Rowe Price Growth Stock Fund, in a press release. Participants in this investment round include Soros Fund Management LLC, Coatue, Fidelity Management and Research Company, and Baron Capital Group. Existing shareholders Amazon and funds managed by BlackRock also participated. “We are focused on the launch of our R1T, R1S and Amazon delivery vehicles. With all three launches occurring in 2021, our teams are working hard to ensure our vehicles, supply chain and production systems are ready for a robust production ramp up. We are grateful for the strong investor support that helps enable us to focus on execution of our products,” says Rivian Founder and CEO RJ Scaringe. No new board seats have been added relating to this latest financing round.
Renesas reboots equipment after Japanese quake Toshiba wasn't the only electronics company affected by the earthquake that struck the coast of southwestern Japan on January 22. Semiconductor manufacturer Renesas confirms that some equipment halted operation but are being restarted.
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Intel's fab 34 gets its first chipmaking tool Intel has started to equip its Fab 34 in Leixlip, Ireland – a USD 7 billion construction project – with its first chipmaking tool.
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indie Semiconductor set up sales centre of excellence in Japan indie Semiconductor announces that the company extending its market reach and building up a strategic presence in Japan – targeting the automotive market.
Intel and ASML strengthen their collaboration Intel has made its first purchase order for ASML’s TWINSCAN EXE:5200 system, marking the next step on the path to EUV 0.55 NA (High-NA) introduction.
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Chroma acquires ESS Chroma ATE Inc. has acquired 100% of the shares of Environmental Stress Systems, Inc. (ESS).
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Semiconductor heavyweights urge congress to act on crisis IBM and 40+ business and academic leaders urges the New York state congressional delegation to act on the semiconductor crisis.
Verimatrix sold its portfolio of NFC patents to Infineon Verimatrix announces that it has sold its historical portfolio of NFC patents to semiconductor company Infineon Technologies AG for nearly USD 2 million.
JLT completes acquisition of French sales partner JLT Mobile Computers, a developer of computing solutions for demanding environments, has completed its acquisition of longtime French sales partner ID Work.
Rohm suspends Tianjin plant amid Covid-19 outbreak Following the outbreak of the new coronavirus variant in Tianjin, China on January 9, restrictions on movement have been imposed, including the start of PCR testing for all citizens. As a result, Rohm has temporarily suspended its Tianjin plant since January 9.
EMD Electronics expands with new factory in Arizona EMD Electronics, the North American Electronics business of Merck KGaA, Darmstadt, Germany, is expanding with a new factory in the greater Phoenix, Arizona area for the manufacture of equipment for its Delivery Systems & Services (DS&S) business.
Swedish biometrics company team up with Infineon Precise Biometrics has teamed up with Infineon to jointly provide fingerprint technology to allow various applications, including automated adjustments of driver settings in vehicles.
STMicro expects Q421 revenues of $3.56B Semiconductor manufacturer, STMicroelectronics, says that its preliminary and unaudited net revenues for the fourth quarter of 2021 are above its business outlook range.
Allegro MicroSystems appoints new Chief Financial Officer Allegro MicroSystems' Senior Vice President Chief Financial Officer and Treasurer, Paul Walsh, will be retiring.
Avnet Embedded opens new design centre in Germany In a move to further strengthen and expand its design competence of standardised and customised embedded products, Avnet Embedded opened a new design center in Deggendorf, Germany, on January 1, 2022.
TANAKA Denshi Kogyo to open new plant in China Japanese company TANAKA Denshi Kogyo will, via a subsidiary, establish a new plant in Hangzhou City, China, for the production of aluminum bonding wires for power semiconductors. The plant is scheduled to commence operations in November of 2022.Load more news