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IBM on Tuesday (8) announced a
new line of data center chips and
servers that it says will be more pow-
er-efficient and help simplify the roll-
out of artificial intelligence in business
operations.
The company introduced its Pow-
er11 chips, its first major update to the
Power line since 2020. IBM’s chips
have typically competed with Intel
and Advanced Micro Devices in the
data center segment, especially in sec-
tors such as financial services, manu-
facturing and healthcare.
IBM’s Power systems, like Nvidia’s
AI servers, come as an integrated
package of chips and software. Tom
McPherson, general manager of Power
systems at IBM, said the company
used this tight integration to focus on
reliability and security.
The Power11 systems, which will be
available starting July 25, will not re-
quire planned downtime for software
updates. According to IBM, the aver-
age unplanned downtime for these
systems each year is just over 30 sec-
onds. The systems are also designed
to detect and respond within a minute
to ransomware attacks.
IBM said it plans to integrate Pow-
er11 with Spyre, its AI chip introduced
last year, in the fourth quarter of
2024.
McPherson said IBM is not trying
to compete with Nvidia in training AI
models but is focused on simplifying
deployment for inference, the phase
where AI is used to carry out business
tasks.
“We can integrate AI capabilities
seamlessly into this for inference ac-
celeration and help their business
process improvements,” McPherson
said in an interview last week. “It’s
not going to have all the horsepower
for training or anything, but it’s going
to have really good inferencing capa-
Jack Dorsey, co-founder of Twitter
and CEO of Block, has developed a
new messaging app called Bitchat,
which works without an internet con-
nection or mobile network. Built as a
personal weekend project, Bitchat us-
es Bluetooth mesh networking to al-
low secure and anonymous communi-
cation between nearby devices.
In a post on X (formerly Twitter),
Dorsey wrote, “[M]y weekend project
to learn about bluetooth mesh net-
works, relays and store and forward
models, message encryption models,
and a few other things. bitchat: blue-
tooth mesh chat...IRC vibes.”
According to Dorsey, the app sup-
ports offline messaging over a range
of more than 300 meters. It includes
features such as end-to-end encryp-
tion, topic-based and password-pro-
tected rooms, mentions, and a fa-
vorites system. The design is mini-
malistic and resembles a coding inter-
face.
“There would be no servers, ac-
counts, or data collection,” Dorsey
stated, highlighting the app’s focus on
privacy. In a whitepaper, he added,
“[B]itchat addresses the need for resil-
ient, private communication that
doesn’t depend on centralized infra-
structure.”
An early version of Bitchat is cur-
rently in beta via TestFlight and has
reached its beta tester limit. Dorsey
Simpler AI: IBM rolls out Power11 chips
Dorsey’s offline messaging app
Tesla is facing fresh scrutiny as CEO Elon Musk
pushes ahead with his political ambitions while
the company struggles with declining sales and
growing investor unease. Last week Musk an-
nounced the launch of a new political outfit, the
‘America Party’, reigniting questions about his fo-
cus on Tesla at a time when the company’s perfor-
mance is under pressure.
The move drew criticism from investors and
legal experts, and prompted calls for Tesla’s board
to act. Some shareholders were concerned that
Musk’s political activities, alongside his leadership
of multiple companies, could undermine Tesla’s
operations.
Shares of Tesla dropped nearly 8 percent on
Monday (7), following the announcement of the
political party and ongoing tensions between
Musk and US President Donald Trump. The two
clashed over Trump’s newly signed tax-cut and
spending bill, with Musk calling for an end to
subsidies. On Tuesday, Tesla’s stock fell another 5
percent as the fallout continued.
The public feud with Trump had already wiped
off 150 billion dollars in Tesla’s market value in a
single day in June. If current losses hold, Tesla
stands to lose over 80 billion dollars in market
valuation, while short sellers could make about
1.4 billion dollars in paper gains.
Tesla’s performance has been slipping. The
company reported a second consecutive drop in
quarterly deliveries and its stock is down 35 per-
cent since peaking in December. Analysts expect a
weak second-quarter report. Musk’s political in-
volvement has also stirred backlash in key global
markets.
“I and every other Tesla investor would prefer
to be out of the business of politics. The sooner
this distraction can be removed and Tesla gets
back to actual business, the better,” Shawn Camp-
bell of Camelthorn Investments told Reuters.
Tesla needs to deliver over one million vehicles
in the second half of the year to avoid a fall in an-
nual sales. Analysts warn that tariff-related uncer-
tainty and political backlash could make that dif-
ficult. The expiry of the electric vehicle tax credit
at the end of September could further impact
sales. “This will likely lead to lower near-term EV
sales and affect all automakers who sell EVs,” said
Seth Goldstein of Morningstar.
Musk’s political plans have also affected inves-
tor sentiment. Azoria Partners postponed the
launch of a Tesla-focused exchange-traded fund.
“We pulled the Azoria Tesla Convexity ETF be-
cause we have real concerns about Elon’s ability to
be a full-time CEO for Tesla with his new full-time
job running ‘America Party’,” said Azoria CEO
James Fishback.
Chair Robyn Denholm had earlier denied re-
ports that board members were considering re-
placing Musk. Denholm, who supported Musk’s
record compensation package in 2018, also de-
fended his leadership amid criticism over over-
sight.
Musk, who is Tesla’s largest shareholder, has
received strong backing from the board despite
criticism over his involvement in multiple ven-
tures. Legal experts say the board could act inde-
pendently of shareholders if it chooses to replace
the CEO.
Tesla’s stock continues to influence the broader
electric vehicle sector. Shares of rivals Rivian and
Lucid also fell by around 3.5 percent. “Tesla is the
umbrella stock for the EV space. Generally, EV
stocks price up into the Tesla valuation,” said
Craig Irwin of Roth MKM.
The new tax-cut bill could reduce Tesla’s earn-
ings by 1.2 billion dollars, or about 17 percent of its
2024 operating income, according to analysts at
J.P. Morgan.
Tesla’s future growth also depends on its robot-
axi program, which faces regulatory hurdles. “The
substance of Tesla’s valuation right now is based
on progress towards autonomy,” Gene Munster of
Deepwater Asset Management told Reuters.
Tesla has also relied on regulatory credits, earn-
ing nearly 11 billion dollars from credit sales to
other automakers. Without those credits, the
company would have reported a first-quarter loss
in April.
Investor Gary Black recently sold his Tesla
Tesla faces turbulence
MUSK JUGGLES POLITICAL PLANS AND BUSINESS SETBACKS
Business (Tech)
www.indiaweekly.biz • July 11, 2025
14
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