Samsung to expand chip production despite economic slowdown. 1 other story and a trivia

This line-up of stories will help you discover the latest happenings around the tech world today

1. Samsung to expand chip production despite economic slowdown

Electronics gadget manufacturing company, Samsung, has announced intent to expand chip production at its largest plant next year.

This development was contained in a media release seen by Ripples Nigeria on Monday.

Ripples Nigeria gathered that Samsung plans to expand its P3 factory in Pyeongtaek, South Korea, by adding a 12-inch wafers capacity for DRAM memory chips.

Analysts said the expansion plan contrasts with competitor chipmakers’ plans to reduce spending due to a surplus of chips and a decline in demand.

According to the release, Samsung will also expand the plant with an additional 4-nanometre chip capacity, which will be made under foundry contracts.

Tech Trivia: What type of file has an .AI file extension?
A. Stereo audio file
B. Vector graphic
C. Compressed archive
D. Artificial intelligence library
Answer: see end of post

Read also:Social commerce startup, Kapu, exits stealth with $8M funding. 2 other stories, and a trivia

2. Indian fintech, Money View, raises $75 million to scale

Indian fintech, Money View, announced on Monday it had raised $75 million in a new funding round to scale its credit business.

Puneet Agarwal, founder, and chief executive of Money View, confirmed the funding in a statement.

The new funding values the Bengaluru-headquartered startup at $900 million, up from $615 million.

Ripples Nigeria understands that Apis Partners led Money View’s Series E funding round, with participation from existing backers Tiger Global, Winter Capital, and Evolence.

The eight-year-old startup claims it offers personalized credit products and financial management solutions to customers who otherwise don’t have a credit score and can’t avail of credit from banks and other financial institutions.

“Our performance and growth over the past two years have allowed us to drive our mission of true financial inclusion in India with great success,” said Agarwal.

Ripples Nigeria gathered that the round hasn’t closed, and it expects to raise more capital.

Trivia Answer: Vector Graphic

Unlike JPEGs, GIFs, and BMP images, vector graphics are not made up of a grid of pixels. Instead, vector graphics are comprised of paths defined by a start and end point, along with other points, curves, and angles.

By Kayode Hamsat

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