Renaissance Capital Alliance, LLC

"Hyundai is recalling more than 226,000 SUVs and small cars in the U.S. because the rearview camera image may not show up on the screens. The recall covers certain Santa Fe and Elantra vehicles from the 2021 and 2022 model years. Hyundai says in documents posted Wednesday by U.S. safety regulators that solder joints on a printed circuit board can develop cracks that can worsen over time and cause the cameras to fail. That can reduce visibility and increase the risk of injury to pedestrians. Dealers will replace the cameras at no cost to owners, who will be notified by letters starting Jan. 19." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #hyundai #automotive #manufacturing https://lnkd.in/edby2R2A

"Rivian said late Monday it has secured conditional commitment for a $6.6 billion loan from the Department of Energy, funds that will help the EV maker restart construction of a massive factory in Georgia. The funds will come from DOE’s Loan Programs Office Advanced Technology Vehicle Manufacturing Loan Program. Rivian said it expects to begin operations at the Georgia factory in 2028 — four years later than originally planned. The factory will employ 7,500 people by the end of 2030, a figure that is tied to an incentives package approved several years ago by Georgia’s Department of Economic Development. Rivian announced in December 2021 plans to build a second factory east of Atlanta that the company said would have doubled the annual production capacity of its plant in Normal, Illinois, and cost an estimated $5 billion to build. At the time, Rivian said the Georgia factory would have a targeted annual production capacity of 400,000 vehicles a year and begin production of its next-generation EVs in 2024. The company landed a $1.5 billion incentives package to build factory in Georgia, according to documents to the state’s Department of Economic Development." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #rivian #manufacturing #evs https://lnkd.in/dxiHVR85

"In a bland north Austin neighborhood dominated by anonymous corporate office towers, Amazon.com Inc. engineers are toiling away on one of the tech industry’s most ambitious moonshots: loosening Nvidia Corp.’s grip on the $100-billion-plus market for artificial intelligence chips. Amazon’s utilitarian engineering lab contains rows of long work benches overlooking the Texas capital’s mushrooming suburbs. The place is kind of a mess. Printed circuit boards, cooling fans, cables and networking gear are strewn around workstations in various states of assembly, some muddied with the thermal paste used to connect chips to the components that keep them from overheating. There’s a bootstrapping vibe you’d expect to see at a startup not a company with a market cap exceeding $2 trillion." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #amazon #chips #semiconductors #manufacturing #nvidia https://lnkd.in/eVYRmSPz

"Honeywell will sell its personal protective equipment business to Protective Industrial Products for about $1.33 billion in cash, it said on Friday, further streamlining its business. A potential sale of the PPE business was disclosed before activist Elliott Investment called for a split of the company's aerospace and automation businesses after taking a $5 billion-plus stake. Since taking charge last year, CEO Vimal Kapur has looked to align Honeywell's portfolio to a shift to the so-called megatrends of automation, aviation and energy transition. The sale of the PPE business, which is part of the company's industrial automation segment, is expected to close in the first half of 2025." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #ppe #honeywell https://lnkd.in/eiY-nPaY

"Alphabet's Google must sell its Chrome browser, share data and search results with rivals and take other measures - including possibly selling Android - to end its monopoly on online search, prosecutors argued to a judge on Wednesday. The measures presented by the Department of Justice are part of a landmark case in Washington which has the potential to reshape how users find information." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #google #alphabet #doj #search https://lnkd.in/gcj4dJe5

"Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock and the cable channel Bravo. 'The transaction will be structured as a tax-free spin to existing shareholders,' Comcast President Mike Cavanagh said in an internal memo. 'While we don’t have a precise timetable for completing the transition, we are estimating that it will take approximately a year.' Comcast owns NBCUniversal, the parent company of NBC News." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #comcast #nbcuniversal https://lnkd.in/eiKnqY8X

"Quantum computing is getting there. After years of slow but steady development to create a useful quantum computer that can outperform classical machines, we’re still squarely in the so-called 'noisy intermediate-scale quantum era.' However, many of the pieces needed for building more advanced — and stable — machines are starting to fall into place now. At the Microsoft Ignite 2024 conference, Microsoft and Atom Computing on Tuesday announced yet another breakthrough on the way to a fault-tolerant quantum computing: the two companies entangled 24 logical qubits using neutral atoms held in place by lasers. The two companies say that this is the highest number of entangled logical qubits on record. (It takes a number of physical qubits to create the logical qubit that can then be used to run quantum algorithms.) What’s maybe just as important is that the system was able to detect when one of the neutral atoms that make up a physical qubit disappeared (they have the pesky tendency to do so) and repeatedly correct for that. The two companies plan to deliver quantum computers based on this technology to commercial customers next year. Those machines will feature over 1,000 physical qubits." #quantumcomputing #quantum #microsoft #atomcomputing #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance https://lnkd.in/gpSbYBKM

"American drone manufacturer Skydio has raised an extension round of $170 million, adding to the $230 million Series E it closed early last year. The new tranche of funding brings in strategic investors like Japanese telecom operator KDDI and Axon, the creator of the taser and other police tech. It also includes previous investors, like Linse Capital, which owns more than 21% of the drone maker. The new funding comes at a time when defense tech funding is booming, with deals in the sector receiving over $9.1 billion in the first half of 2024, according to PitchBook." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #drone #manufacturing #skydio https://lnkd.in/g6mxACiT

"Nearly half of AI data centers may not have enough power by 2027 AI’s insatiable thirst for electricity is expected to surge in the coming years, potentially leading to power shortages for data centers. New servers last year demanded 195 terawatt-hours of electricity, according to a new report from Gartner. That’s as much as 18 million households use in a year. But by 2027, new servers could command 500 terawatt-hours, or 46 million households’ worth. That’s over and above the juice used by existing data centers, which already consumed 349 terawatt hours in 2022, according to a Goldman Sachs estimate. Without additional sources of carbon-free power, pollution from AI training and use could skyrocket. Sam Altman’s big bet on fusion power — over $375 million — is starting to make more sense." #ai #datacenters #samaltman #fusion #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance https://lnkd.in/gZBbVN-4

"The US Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's US unit for semiconductor production in Phoenix, Arizona. The binding contract - after a preliminary agreement announced in April - is the first major award to be completed under the $52.7 billion program created in 2022. It comes just weeks before President-elect Donald Trump, who criticized the program, takes office. In April, TSMC agreed to expand its planned investment by $25 billion to $65 billion and to add a third Arizona fab by 2030. The Taiwanese company will produce the world's most advanced 2 nanometer technology at its second Arizona fab expected to begin production in 2028. TSMC also agreed to use its most advanced chip manufacturing technology called "A16" in Arizona. #chips #semiconductors #manufacturing #TSMC #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance https://lnkd.in/emxCBN2w