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Tech Across the Globe

TSMC’s secrets: The world’s biggest chipmaker said on Tuesday it’s identified a potential leak of its trade secrets and has taken disciplinary action against the personnel deemed responsible.

Podcast turbulence: Amazon is breaking up its Wondery podcast network as part of a broad shakeup of the business. Jen Sargent, chief executive officer of the division, will leave the company and about 110 jobs will be eliminated.

Telecom deal: Amphenol, which designs telecom devices, has agreed to purchase CommScope’s broadband and cable equipment arm for about $10.5 billion.

Revalued

Firefly Aerospace raised the potential size of its initial public offering to as much as $697 million. The Texas-based maker of launch vehicles plans to offer its stock at $41 to $43 a share, which at the top of the range would value the company at $6 billion. Firefly was valued at $2.95 billion in a funding round earlier this year.

Must Read

India’s IT sector is emulating Silicon Valley by engaging in AI-driven layoffs. Tata Consultancy Services, the world’s biggest outsourcing provider, laid off 12,000 people as it reorganizes to better focus on AI tools and services. Sankalp Phartiyal reports on the implications for the country’s tech jobs scene and hears from some industry voices suggesting there’ll be greater opportunity too.

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This Week in Power On

Apple has revamped its AI staff and now has a new team called Answers, Knowledge and Information that is exploring the idea of creating an in-house ChatGPT-like search experience, Mark Gurman reports in this week’s Power On. The company has generated roughly $20 billion a year to make Google Search the default option on Apple devices, but an antitrust decision has put that revenue at risk and consumers are turning from traditional search to generative AI products, Gurman writes.

Sign up for the Power On newsletter to get the inside scoop from Mark Gurman on all things Apple and consumer tech.

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