About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “Foxconn Plant Championed by Trump Lands Google Server Contract” – below is their description.
Foxconn Technology Group plans to assemble key components for Google servers from its plant in Wisconsin, people familiar with the matter said, finally breathing life into a factory Donald Trump hailed as crucial to bringing manufacturing back to the U.S. The Taiwanese company has decided to locate production for this new contract at the existing complex rather than make the components at home or in China, the people said, asking not to be identified discussing a sensitive move. The under-utilized factory should start mass production in the first quarter, timed with the release of Intel Corp.’s Ice Lake server chips, they said. Foxconn is setting up surface-mount technology assembly lines that it will use to place semiconductors onto circuit boards, they added. Foxconn, known also as Hon Hai Precision Industry Co., is one of several Taiwanese firms exploring ways to expand in America and lessen a reliance on Chinese production bases. The company has also sought to diversify a business that counts on Apple Inc. for half its revenue, including by courting more American clients. On Thursday, Taiwan Semiconductor Manufacturing Co. won city-level incentives for a $12 billion chip plant in Phoenix, another step toward bringing high-tech manufacture back to the U.S. and addressing security concerns over the industry’s supply chain. A Foxconn representative confirmed it’s developing data center infrastructure and high-performance computing “capabilities” in Wisconsin, but declined to name any customers. Taiwan counts Washington as an essential diplomatic, economic and military ally amid rising tensions with Beijing. Foxconn, which operates most of its factories in central and southern China, won Google’s business because it was the only contract manufacturer capable of establishing a surface-mount technology line on American soil, one of the people said. Shanghai-listed Foxconn Industrial Internet Co., its cloud business unit, will oversee the server business in Wisconsin, another person familiar with Foxconn’s operations said. The plant in Wisconsin was unveiled to much fanfare in 2018 by Foxconn Chairman Terry Gou and Trump, who called it “the Eighth Wonder of the World.” Once envisioned as the centerpiece of a Made in America effort that would create 13,000 jobs for the Badger State, it instead succumbed to delays and switched directions several times after local officials slashed subsidies. The company missed its first-year hiring target by a wide margin, ending 2018 with just 178 full-time employees. And rather than the promised large-sized display panels, it began churning out face masks and ventilators this year. Yet its location in the heart of America is now a boon to Alphabet Inc.’s Google, which is trying to win lucrative contracts for its server-dependent cloud business. The U.S. company considers it an important area for the company’s growth, but one in which Amazon.com Inc. and Microsoft Corp. dominate. An American base could help Foxconn court U.S. government contracts, particularly as Washington ramps up scrutiny over a largely Chinese-focused global electronics supply chain. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktakeBloomberg Quicktake: Now YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
In This Story: Apple Inc
Apple Inc. is an American multinational technology company headquartered in Cupertino, California. It is considered one of the Big Tech technology companies, alongside Amazon, Google, Microsoft, and Facebook.
Well known products and services from the brand include the iPad tablet computer, AirPods wireless earbuds, iOS, iTunes, the Safari web browser, Apple Music, iCloud and Apple Pay.
Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976. Apple went public in 1980. In August 2018, Apple became the first publicly traded U.S. company to be valued at over $1 trillion and just two years later in August 2020 became the first $2 trillion U.S. company.
The company employs 137,000 full-time employees and maintains 510 retail stores in 25 countries as of 2020.
Apple Products #Ad
3 Recent Items: Apple Inc
In This Story: Beijing
Beijing, China’s sprawling capital, has history stretching back 3 millennia. Yet it’s known as much for modern architecture as its ancient sites such as the grand Forbidden City complex, the imperial palace during the Ming and Qing dynasties.
2 Recent Items: Beijing
In This Story: China
7 Recent Items: China
In This Story: Donald Trump
Donald John Trump is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality. Trump was born and raised in Queens, a borough of New York City, and received a bachelor’s degree in economics from the Wharton School.
5 Recent Items: Donald Trump
In This Story: Intel
4 Recent Items: Intel
In This Story: Microsoft
Microsoft Corporation (NASDAQ: MSFT) is an American multinational technology company with headquarters in Redmond, Washington. It develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services.