Procurement Pro takes a look at the top news stories from January 2025.
US stocks recoil following China’s DeepSeek AI startup reveal
Chinese startup DeepSeek rocked global stock markets as it introduced its newest AI version, DeepSeek-R1, which has quickly rose to top app charts and Google Trend statistics, replacing ChatGPT’s longstanding dominance.
This development has rocked the US AI bubble, casting doubts over the nations AI leadership and the costs associated with AI.
Rachel Reeves to boost UK economy by £78 million by 2035
Chancellor Rachel Reeves announced a new plan to unlock the potential of the Oxford-Cambridge Growth Corridor, projected to add £78 billion to the UK economy by 2035.
The government pledges support for infrastructure improvements, including new transport links, housing developments, and investment in water and AI sectors, clearing the way for, 4,500 new homes
Plans aim to strengthen the UKs leadership in key industries such as life sciences, AI and advanced manufacturing, through new funding and new growth commission.
ASML reports €28.3Bn net sales in 2024
ASML published its 2024 fourth-quarter and full-year results.
In Q4, ASML reported total net sales of €9.3 billion, with a gross margin of 51.7% and a net income of €2.7 billion. The company recorded quarterly net bookings of €7.1 billion, including €3.0 billion from EUV systems.
For the full year 2024, ASML achieved total net sales of €28.3 billion, with a gross margin of 51.3% and a net income of €7.6 billion.
Mouser, Synaptics sign global distribution pact
Mouser Electronics has signed a new global distribution agreement with Synaptics, a San Jose, California-based company that develops neural network technologies and human-machine interface (HMI) devices.
Synaptics’ portfolio includes low-power edge compute and AI solutions, application-specific system-on-chip (SoC) technology, embedded solutions for IoT and more.
TI cites inventory overhang as Q4 sales dip
Texas Instruments reported Q4 sales of $4 billion, down 3% sequentially and 2% year on year. For the full year revenues were $15.6 billion down from $17.5 billion last year.
In the product segments analog sales were $3.17 up 2% year on year. Embedded processing revenues plummeted 18% year on year to $613 million. Other product revenues rose 7% year on year to $220 million.
ECIA names Mike Morton, TTI, Inc. as Board Chairman
ECIA announced Mike Morton, CEO of TTI, Inc. has accepted the role of ECIA Board Chair.
Mike has served TTI for 40+ years in various leadership positions, most recently providing exceptional leadership as chief operating officer. Through his years with TTI, Morton has played a vital role in building the company to its current level of success. His knowledge of the industry and vast experience will be of inestimable value to ECIA.
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