Bitcoin surpassed $100,000 for the first time, driven by optimism around US President-elect Donald Trump’s crypto-friendly stance
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Bitcoin surpassed $100,000 for the first time, driven by optimism around US President-elect Donald Trump’s crypto-friendly stance,
earlier today. The cryptocurrency has more than doubled in value this year, with a 45 percent increase since Trump’s election victory.
Analysts cite a “paradigm shift” fuelled by institutional adoption, tokenisation advancements, and clearer regulations, according to Reuters. Trump’s pro-crypto stance, including promises to make the US the “crypto capital”, has sparked investor confidence. His plan to appoint Paul Atkins—widely seen as a pro-digital-assets candidate—to head the US Securities and Exchange Commission, America’s capital markets regulator, is seen as favourable for crypto.
The approval of bitcoin ETFs in January also boosted its value, attracting more institutional investment. Bitcoin’s rise from below $16,000 in late 2022 reflects its growing mainstream acceptance, with over $4 billion flowing into US-listed ETFs since the election.
After Meta’s planet-hugging subsea cable, comes $10 billion data centre
Meta plans to invest $10 billion in a new AI-focussed data centre in the US, marking its largest such facility globally, Reuters reported on December 4. The centre, in the US state of Louisiana, will support AI workloads and process vast data.
This announcement follows Meta’s initiative to add 1-4 gigawatts of nuclear power in the US by the 2030s to meet growing energy demands from AI. The centre’s energy needs will be offset by renewable energy, with Meta collaborating with Entergy, a utility provider, according to Reuters.
Last week, TechCrunch reported it had confirmed Meta was planning a 40,000 km subsea optic fibre cable infrastructure at a cost of as much as $10 billion.
Despite challenges like ageing reactors and regulatory hurdles, Meta’s move highlights the growing reliance amongst tech companies on nuclear and renewable energy sources for power. Construction is expected to continue through 2030, starting in December.
NXP Semiconductors to increase R&D investments in Bengaluru
NXP Semiconductors will invest a significant portion of a planned $1 billion expansion budget in Bengaluru over the next five years, Economic Times reported on November 4, citing Karnataka state’s industries minister MB Patil.
This announcement came during Patil’s roadshow in the Netherlands, where the semiconductor company is headquartered, aimed at attracting global investments for the state’s upcoming Invest Karnataka 2025 event, according to ET.
The minister discussed Karnataka’s role in global R&D with NXP’s Executive Director Maurice Geraets and also engaged with other companies such as Philips, Heineken, and Signify. Philips is expanding its Bengaluru Innovation Campus, while Patil encouraged further investment under the “China plus one” strategy.
The roadshow showcased Karnataka’s strengths in sectors like semiconductors, renewable energy, and advanced manufacturing, positioning the state as a key investment hub.
Infosys wins contract from Switzerland’s Kardex to implement SAP
Infosys has secured a contract from Kardex, a leading provider of intralogistics solutions, to implement SAP S/4HANA across the Switzerland-headquartered company’s operations in more than 30 countries, the Indian IT company said in a press release on December 4. Infosys didn’t provide details on the value of the contract.
Using Infosys Cobalt, the IT services provider will help Kardex streamline its ERP system, boosting operational efficiency and scalability. Infosys was chosen for its expertise in digital transformation and SAP S/4HANA deployments, particularly in manufacturing and logistics.
The partnership aims to enhance Kardex’s supply chain, improve decision-making, and support real-time insights. Infosys will also deploy its data services suite, called iDSS, for smooth data management and minimal disruption during the transition. The collaboration is expected to drive productivity and accelerate Kardex’s growth.
India’s yearly two-wheeler EV sales crossed 1 million in November
India’s electric two-wheeler vehicle (EV) market continued to grow, with yearly electric two-wheeler sales surpassing 1 million units for the first time, Moneycontrol reported on December 2.
As of November 30, total sales reached 10.7 lakh (or 1.07 million), a 37 percent increase over last year. However, November saw a 15 percent month-on-month dip to 1.18 lakh units, following the festive season peak in October. Despite this, companies such as TVS and Bajaj Motors reported record sales.
Ola Electric maintained its leadership with a 24.5 percent market share, although its sales dropped 30 percent month on month. The company’s festive discounts, including a price cut on its Ola S1 scooter, drove demand. TVS and Bajaj are gaining ground, with TVS securing 22.7 percent and Bajaj 22 percent market shares.
Fourth-ranked Ather Energy, which is planning an IPO, and its biggest investor Hero MotoCorp also posted strong sales, with year-on-year growth of 38 percent and 140 percent, respectively.