Nvidia Corp’s acquisition of Arm will harm competition: Elon Musk

Tesla’s CEO Elon Musk has been quoted by the Telegraph as saying, he is concerned over Nvidia Corp’s planned acquisition of British chip designer Arm since it could impact competition. Telegraph’s report also mentions that Amazon.com Inc and Samsung Electronics Co Ltd have also raised opposition to the deal with U.S. authorities. Earlier this year, the US FTC…

House panel debate on data portability faces strong push back from Big Tech

While the U.S. House of Representatives Judiciary Committee has voted to approve a bill to give antitrust enforcers more funds but it has yet to vote on four bills aimed at reining-in Big Tech. U.S. Representative Jerrold Nadler, the Democratic chairman of the Judiciary Committee, termed the bills as a “historic package of bipartisan legislation”…

Electric-truck startup Rivian Automotive Inc chasing $70 billion valuation in potential IPO

Rivian Automotive Inc, an electric-truck startup is targeting a valuation of around $70 billion in its potential initial public offering later this year. Earlier this year in January, Amazon.com Inc and Ford Motor Co-backed Rivian had a valuation of $27.6 billion, following a $2.65-billion investment round led by T. Rowe Price. Rivian has hired advisers including…

Mitsubishi Corp to supply clean energy to Amazon.com Inc’s European data centre

On Monday, in a report Japan’s the Nikkei business daily said, Mitsubishi Corp is set to enter into an agreement to “provide Amazon.com Inc’s European facilities with renewable energy through its Dutch unit, Eneco”. An offshore wind farm which is being built by Eneco is scheduled to come online in 2023; it will supply 130…

Amazon.com Inc orders more than 1000 CNG powered truck engines for U.S. fleet

In a development that underscores Amazon.com Inc’s push towards reducing its carbon footprint, the world’s biggest e-commerce retailer has ordered more than 1,000 truck engines that run on compressed natural gas, marking its latest shift away from heavy polluting trucks. In 2020, as a result of the coronavirus induced pandemic, there has been a surge…

With Spain introducing digital tax on large tech companies, Amazon.com Inc hikes fees for Spanish users

Starting from April, Amazon.com Inc is set to raise fees by 3% for Spanish companies that use its platform. The development comes in the wake of the Spanish government imposing a digital tax on large tech companies. Confirming the so-called Google tax, a spokesman for Amazon said, after Spain begun charging a digital tax on…