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🗞️ News 

2023: Tough Times for Silicon Valley Startups

In 2023, U.S. venture capital suffered its worst year since 2019, with a 30% drop in deal values despite increased AI startup investments. Global VC also fell by 35%, hitting the lowest point since 2017. Silicon Valley saw a double-digit decline, signaling a shift to other tech hubs. The funding crunch hit startups, especially in AI. Looking ahead, this downturn may lead to a more sustainable investment approach.

→ Read more about the situation here

Global Economic Growth Slows Again

The World Bank predicts a third consecutive year of global economic slowdown in 2024, forecasting a growth rate of 2.4%, down from 2.6% in 2023. High-interest rates, persistent inflation, and challenges in China contribute to this decline. Global tensions add risks, while concerns arise about heavily indebted poor countries unable to invest in critical areas. Despite the risk of a global recession receding, weak near-term growth is anticipated, especially affecting developing nations. The U.S. led global growth in 2023 but is expected to slow to 1.6% in 2024. China's growth is projected at 4.5%, impacting commodity-exporting developing countries. The Eurozone expects 0.7% growth, and Japan forecasts a 0.9% expansion.

→ More details about the World Bank prediction here

World Chip Sales Return to Growth

Global chip sales grew for the first time in over a year, hitting $48 billion in November 2023 (5.3% increase). The rebound is attributed to emerging tech like AI. Despite this positive trend, challenges persist due to soft demand for smartphones. Samsung Electronics, a key chipmaker, reported declining profit and revenue, signaling potential uneven recovery. China led the growth in chip sales, up 7.6%. The Semiconductor Industry Association (SIA) represents a substantial portion of the US chip industry.

→ Learn more about the chip sales here