U.S. markets open in 7 hours 22 minutes

  • S&P Futures

    4,160.00
    +5.75 (+0.14%)
     

  • Dow Futures

    34,084.00
    +56.00 (+0.16%)
     

  • Nasdaq Futures

    13,504.00
    +17.50 (+0.13%)
     

  • Russell 2000 Futures

    2,209.50
    +3.80 (+0.17%)
     

  • Crude Oil

    61.95
    -0.10 (-0.16%)
     

  • Gold

    1,876.20
    -5.70 (-0.30%)
     

  • Silver

    27.86
    -0.20 (-0.72%)
     

  • EUR/USD

    1.2241
    +0.0004 (+0.04%)
     

  • 10-Yr Bond

    1.6340
    0.0000 (0.00%)
     

  • Vix

    20.67
    -1.51 (-6.81%)
     

  • GBP/USD

    1.4198
    +0.0010 (+0.07%)
     

  • USD/JPY

    108.7030
    -0.0620 (-0.06%)
     

  • BTC-USD

    39,567.55
    -70.85 (-0.18%)
     

  • CMC Crypto 200

    1,035.11
    +37.90 (+3.80%)
     

  • FTSE 100

    7,019.79
    +69.59 (+1.00%)
     

  • Nikkei 225

    28,292.61
    +194.36 (+0.69%)
     

Blu Ventures Doubles Down on Cybersecurity Strategy

·2 min read

BVI to Capitalize on Extensive Cyber Security Experience in Early-Stage Companies

VIENNA, Va., May 21, 2021 /PRNewswire/ -- Blu Venture Investors, a primary source venture capital firm, today announced the launch of the BVI Cyber Fund, a $25M fund targeted at Series A growth companies in cybersecurity. This fund builds on the success and momentum Blu Ventures has established in supporting the cybersecurity ecosystem in the Mid-Atlantic region and beyond.

"With over 800 cybersecurity firms in the Washington, D.C. region, Blu Ventures is seated at the center of the cyber/intelligence ecosystem," said Michael Sutton, Investment Committee member and former CSO of Zscaler. "We are excited to continue helping fast-growing cyber companies scale and tackle the most difficult cybersecurity challenges facing commercial and government organizations today."

The timing of the BVI Cyber Fund comes at a pivotal time given the record-breaking increase in sophisticated breaches and cyberattacks and President Biden's May 12, 2021 Executive Order on Improving the Nation's Cybersecurity. Blu Ventures has and will continue to invest in forward-looking cybersecurity technologies within core areas that include Endpoint Detection & Response, Data Storage; Web & Cloud; Messaging; Network; Industrial & Internet of Things (IoT); Threat Intel; Mobile; Fraud Protection & Transaction; Risk, Compliance & Training; Specialized Threat Analysis & Protection and Security Ops & Incident Response.

About Blu Venture Investors
Founded in 2010, Blu Ventures has deployed $85MM in capital to date in early-stage cyber and enterprise software firms. Currently, the firm is invested in 35 cyber companies to include ID.me, Cybrary, Huntress Labs, Ostendio and Threat Quotient. As a primary source venture capital firm, Blu's principals bring expertise across a variety of industries and an investment perspective closely aligned with entrepreneurs. For more information, visit https://bluventureinvestors.com.

Media Contact:
Christine Blake
W2 Communications
Christine@w2comm.com

Blu Ventures Contact:
Ben Ebenezer
Bebenezer@bluventures.com

Related Images
bvi-cyber-fund.png
BVI Cyber Fund

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/blu-ventures-doubles-down-on-cybersecurity-strategy-301296637.html

SOURCE Blu Venture Investors

Recommended Stories

  • Billionaire Founder of China Property Giant Dies of Illness

    (Bloomberg) -- The billionaire founder of KE Holdings Inc. has died of an unspecified illness, a shocking development for a Chinese property company that pulled off one of the strongest U.S. market debuts of 2020.Zuo Hui, who turned the company known as Beike from a nationwide chain of real estate offices into China’s largest platform for housing transactions and services, died May 20 after an “unexpected worsening of illness,” his company said in a statement without elaborating. KE Holdings’ board will announce follow-up arrangements within two weeks, it added.Zuo, 50, has been the driving force behind the company’s success, headlining the bell-ringing ceremony when it went public and holding 81.1% of voting shares under a dual-class voting structure as of end-February, according to its annual report. The company’s American depositary receipts fell 0.8% to $49.85 in New York on Thursday, paring an earlier decline of almost 10%.Zuo was backed by some of Asia’s most influential startup investors, including Hillhouse Capital Group and Tencent Holdings Ltd., and ranks among SoftBank Group Corp.’s most successful bets. KE Holdings almost doubled on its August U.S. debut, vaulting Zuo into the ranks of the world’s richest entrepreneurs with a fortune in excess of $20 billion at one point, according to the Bloomberg Billionaires’ Index.Its shares were up 151% from their New York debut through Wednesday’s close, conferring on the late chairman a net worth of $14.8 billion.In an interview with CCTV aired in April, he downplayed the significance of the IPO and the riches it bestowed.“Why should I feel excited?” he said, dressed in jeans, a dark blue vest and black sneakers. “This makes no difference to me.”Read more: Founder of China Property Site With No Profits Worth $20 BillionBorn in 1971 in Shaanxi province, Zuo graduated with a bachelor’s degree from Beijing University of Chemical Technology in 1992 before getting into sales and establishing an insurance business, where he made his first fortune, according to local media. He then founded Beijing Lianjia Real Estate Brokerage Co. in 2001, when China’s property market was still relatively young, and started Ziroom in 2011 to offer long-term apartment rentals. In 2018, he incorporated KE and launched Beike, becoming one of the country’s most celebrated entrepreneurs.Beike uses artificial intelligence and big data to improve its service and provide market insights, according to its website. As of June, the company boasted 226 million homes on its platform and 39 million monthly active users on mobiles. That’s swelled to more than 48 million mobile monthly active users and half a million agents.The platform also draws in others by allowing decorators, renovators and financial institutions to connect with buyers, creating an ecosystem of property and related offerings.(Updates with closing share price in third paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Billionaire Founder of China Property Giant Dies of Illness

    (Bloomberg) -- The billionaire founder of KE Holdings Inc. has died of an unspecified illness, a shocking development for a Chinese property company that pulled off one of the strongest U.S. market debuts of 2020.Zuo Hui, who turned the company known as Beike from a nationwide chain of real estate offices into China’s largest platform for housing transactions and services, died May 20 after an “unexpected worsening of illness,” his company said in a statement without elaborating. KE Holdings’ board will announce follow-up arrangements within two weeks, it added.Zuo, 50, has been the driving force behind the company’s success, headlining the bell-ringing ceremony when it went public and holding 81.1% of voting shares under a dual-class voting structure as of end-February, according to its annual report. The company’s American depositary receipts fell 0.8% to $49.85 in New York on Thursday, paring an earlier decline of almost 10%.Zuo was backed by some of Asia’s most influential startup investors, including Hillhouse Capital Group and Tencent Holdings Ltd., and ranks among SoftBank Group Corp.’s most successful bets. KE Holdings almost doubled on its August U.S. debut, vaulting Zuo into the ranks of the world’s richest entrepreneurs with a fortune in excess of $20 billion at one point, according to the Bloomberg Billionaires’ Index.Its shares were up 151% from their New York debut through Wednesday’s close, conferring on the late chairman a net worth of $14.8 billion.In an interview with CCTV aired in April, he downplayed the significance of the IPO and the riches it bestowed.“Why should I feel excited?” he said, dressed in jeans, a dark blue vest and black sneakers. “This makes no difference to me.”Read more: Founder of China Property Site With No Profits Worth $20 BillionBorn in 1971 in Shaanxi province, Zuo graduated with a bachelor’s degree from Beijing University of Chemical Technology in 1992 before getting into sales and establishing an insurance business, where he made his first fortune, according to local media. He then founded Beijing Lianjia Real Estate Brokerage Co. in 2001, when China’s property market was still relatively young, and started Ziroom in 2011 to offer long-term apartment rentals. In 2018, he incorporated KE and launched Beike, becoming one of the country’s most celebrated entrepreneurs.Beike uses artificial intelligence and big data to improve its service and provide market insights, according to its website. As of June, the company boasted 226 million homes on its platform and 39 million monthly active users on mobiles. That’s swelled to more than 48 million mobile monthly active users and half a million agents.The platform also draws in others by allowing decorators, renovators and financial institutions to connect with buyers, creating an ecosystem of property and related offerings.(Updates with closing share price in third paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Chinese Bitcoin Mining Company Invests $25M in New Facility in Texas

    BIT Mining's new Texas facility will open a new frontier for the firm at a time of rapid investment in North American mining.

  • How to maximize your windfall if you sell your house and start renting

    If you're willing to downsize your space, you could supersize your cash flow.

  • Deutsche Bank: 'The value of bitcoin is entirely based on wishful thinking'

    Analysts are piling on bitcoin as it plunges, noting headwinds and issues that might stunt its increased adoption.

  • UPDATE 2-Ford Motor, SK Innovation announce EV battery joint venture in N. America

    Ford Motor Co and South Korean battery maker SK Innovation on Thursday announced they will form a battery joint venture in North America to support the No. 2 U.S. automaker's electric vehicle rollout. The companies said they have signed a memorandum of understanding for the formation of the venture, called BlueOvalSK. Reuters on Wednesday reported plans for the joint venture.

  • S&P 500 Price Forecast – Stock Market Shows Resiliency

    The S&P 500 pulled back a bit during the trading session on Thursday to test the 50 day EMA again before bouncing to show signs of resiliency.

  • Daily Gold News: Thursday, May 20 – Gold’s Increased Volatility Below $1,900 Price Mark

    Gold is 0.1% lower this morning, as it is trading within yesterday’s daily range. What about the other precious metals?

  • UPDATE 4-Canada to tighten mortgage lending rules as central bank frets over housing market

    Canada said on Thursday it would tighten rules on mortgage lending starting next month after the Bank of Canada earlier warned that the hot housing market and high household debt levels had left the economy more vulnerable to economic shocks. The country's financial regulator and the Finance Department said separately that borrowers of both uninsured and insured mortgages must show that they can afford loans that are the higher of their current rate plus 200 basis points, or 5.25%.

  • Ghosn gets $6 million bill as Nissan-Mitsubishi case backfires

    AMSTERDAM (Reuters) -Fugitive former car executive Carlos Ghosn suffered a setback on Thursday when a Dutch court ordered him to repay 5 million euros ($6.1 million) in wages to Nissan and Mitsubishi in a case he had brought. The case, one of a series of legal battles involving one of the best known figures in the auto industry, centres around the Dutch-registered joint venture Nissan-Mitsubishi BV (NMBV), where Ghosn was ousted as chairman in 2019. But the district court in Amsterdam sided with the car companies, stating that Ghosn did not have a valid employment agreement with the joint venture, as it lacked the required consent of the boards of Nissan and Mitsubishi.

  • Japan Exports Surge as Global Trade Rebounds From Dismal 2020

    (Bloomberg) -- Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here.Japanese exports jumped again, climbing in April by more than a third from last year’s dismal level, as recovering global trade gave a needed boost to an economy that’s stalling at home amid new waves of the coronavirus.Surging car and auto parts shipments helped power a 38% rise in Japan’s exports from a year earlier, according to figures Thursday from the finance ministry that beat all but one forecast from 26 surveyed analysts. The consensus was for a 30.8% gain.Although the data give an inflated view of the strength of exports because they’re based on a comparison with 2020’s terrible figures, the report still shows trade bouncing back -- a major positive for the global economy and Japan. Shipments climbed almost 8% compared with 2019.A separate report showed Japanese machinery orders, a leading indicator of capital spending, gained in March from the prior month.Key InsightsMore export gains are good news for an economy struggling to quell new virus waves amid a slow vaccine drive. Weak consumer spending and business investment last quarter led to a bigger-than-expected GDP contraction and raised the risk of a double-dip recession.Last month’s trade increase showed a broad-based recovery in world economies. Shipments to the U.S. and Asia rose the most since 2010, while those to the EU climbed the most since 1980, according to a ministry official.“Demand itself is very strong led by the U.S., and Chinese exports,” said economist Hiroaki Muto at Sumitomo Life Insurance Co, adding that bottlenecks in semiconductor supplies could slow gains in months ahead. “‘I expect net exports to be positive for Japan’s 2Q GDP, although it wouldn’t surprise me if 2Q GDP overall was negative.”A drop in the yen’s value gives Japan’s exporters another tailwind. The currency has fallen roughly 6% versus the dollar so far this year, increasing the value of repatriated profits for companies from Toyota to Hitachi.What Bloomberg Economics Says...“Looking ahead, we expect exports to come in above the pre-Covid level in May, supported by a recovery in European demand with progress on vaccinations. Shipments to the U.S. and China may increase at a slower pace.”--Yuki Masujima, economistTo read full report, click here.Get MoreImports rose 12.8% from the previous year, compared with analysts forecasting a 9% increase.Shipments to the U.S. jumped 45.1%, while those to the EU climbed 39.6% and those to China gained 33.9%.The trade balance was 255.3 billion yen ($2.3 billion) in the black. Analysts had expected a surplus of 147.7 billion yen.Core machinary orders increased 3.7% in March versus the prior month, compared with a 5% rise forecast by analysts.(Adds economist’s comments.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • What bitcoin’s collapse could mean for your retirement

    Youngsters’ dreams of an easy, early and rich retirement were getting a pounding this week as their favorite cryptocurrencies collapsed. Prices for bitcoin (BTCUSD) and other futuristic “currencies” were in free fall Wednesday. Anyone who has bought into bitcoin since February is already in the red.

  • ‘Shark Tank’ Judge’s SPAC in Talks to Merge With Insurer

    (Bloomberg) -- Home-coverage startup Kin Insurance is in talks to go public via Omnichannel Acquisition Corp., a special purpose acquisition company led by recurring “Shark Tank” guest judge Matt Higgins, according to people with knowledge of the matter.The combined entity is set to be valued at over $1 billion, one of the people said. Terms could change and as with all transactions that aren’t yet finalized, it’s possible talks could collapse. A deal, if agreed, could be announced next month, one of the people said.Representatives for Omnichannel and Kin declined to comment.Chicago-based Kin says it offers affordable coverage in “catastrophe-prone” regions including California, Florida and Louisiana directly to consumers online. It is led by co-founders Sean Harper, the chief executive officer, and Lucas Ward, who is president and chief technology officer.Kin raised $63.9 million in a recent funding round from investors including Senator Investment Group, Hudson Structured Capital Management, the University of Chicago’s startup investment program, Allegis NL Capital and Alpha Edison. Earlier backers include August Capital and Commerce Ventures.The insurer recently said it surpassed $100 million in annual recurring premium after just 21 months as a carrier in an industry that still sees more than 90% of home coverage sold through brick-and-mortar agencies.Omnichannel, led by Higgins -- an executive fellow at Harvard Business School -- in November raised $206.5 million in an initial public offering. The company’s website says it’s seeking a $1 billion to $2.5 billion acquisition, which it has defined in filings as including direct-to-consumer services. Beauty entrepreneur Bobbi Brown is on the SPAC’s board.Higgins is also CEO of RSE Ventures, an investment firm that has made bets on companies including David Chang’s Momofuku, Bluestone Lane and & Pizza on behalf of billionaire Stephen Ross. Higgins is also a vice chairman of the Miami Dolphins, of which Ross is a co-owner alongside Serena and Venus Williams, among others.Another so-called insuretech company, Hippo Enterprises Inc., in March agreed to go public via a SPAC. MetroMile Inc. in February became a public company after merging with a SPAC.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • What Hedge Fund Analysts Do for Investments

    Every investment class needs someone to manage it. From the market makers and clearing houses that ensure stock trading to the bankers who move currencies around the world, markets are not natural phenomena. They require management. Perhaps nowhere is that more … Continue reading → The post What Hedge Fund Analysts Do for Investments appeared first on SmartAsset Blog.

  • Giant New Iron Ore Mine May Aid China’s Push to Cool Prices

    (Bloomberg) -- BHP Group’s start up of production at its $3.6 billion South Flank project in Australia -- combined with existing operations at the site -- will create the world’s biggest iron ore hub. It may also help temporarily cool a hot market.Iron ore futures are trading below $200 a ton after China’s cabinet called for tougher oversight of commodity markets and protection for consumers from soaring prices. While South Flank was a replacement mine, the announcement of a big mine coming on stream can add short-term to negative market talk, according to Peter O’Connor, mining analyst at Shaw & Partners Ltd.Commodities have tumbled as international markets are gripped by inflation fears and the authorities in Beijing continue to try to jawbone and manage prices lower. China’s cabinet expressed concerns Wednesday about the surge in prices for a second week in row, calling for more effort to curb “unreasonable” gains and prevent any impact on consumer prices. The meeting, chaired by Premier Li Keqiang, also called for a crackdown on speculation and hoarding.Against this backdrop, where steel margins were getting compressed in China and Li was trying to talk commodities down, “it weighs on that narrative as opposed to really weighing on the market,” O’Connor said. “But when you get these sort of extremes -- that subjective narrative can be a key driver.”South Flank has been built to replace the depleting Yandi mine -- and together with the existing Mining Area C -- will form a hub with annual production of 145 million tons a year. South Flank’s higher quality product will also lift the average iron ore grade across BHP’s Pilbara operations. In the short-term, there was potential for a squeeze higher in BHP’s ore exports as South Flank and Yandi operated in tandem, although the overall physical impact on the market was likely to be small, said O’Connor.The start of production of 80 million tons a year at South Flank, matching Yandi, comes at a time when top exporters Australia and Brazil have been challenged in meeting strong demand from Chinese steel mills. Pilbara shipments were down 6% in April compared to the year-ago period, while Brazil’s exports were flat, according to Bloomberg Intelligence. BHP’s current guidance is for annual production at the upper end of its range of 276-286 million tons.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Bitcoin Rally Was So Huge It Was Worth the Risk-Adjusted Twists

    (Bloomberg) -- Yes, you made a bundle holding Bitcoin through the top a month ago. And even with a selloff like this one, it’s probably been worth the toll on your nerves.With the cryptocurrency sinking as much as 31% Wednesday, one might ask whether the token has been a good investment over time. As scary as the sudden wipeout is, the gains have been so enormous that -- even adjusted for risk -- Bitcoin has done way better than other major assets.Consider its trajectory since the end of last September, when Bitcoin embarked on a meteoric rise. Over the span, it has generated a 255% return, a rally that few other investments can match. At the same time, its price swings have also been almost unparalleled -- 11 separate sessions of intraday losses of at least 10%.But anyone who has stomached the churn is reaping a benefit. When adjusted for daily volatility, Bitcoin’s return since September has been more than twice that of the S&P 500 Index and easily trounced a negative reading for Treasury bonds. Commodities also fared worse over the stretch.“In spite of the volatility, BTC’s returns have more than made up for it,” said Stephane Ouellette, chief executive and co-founder of FRNT Financial. “We’re talking about the greatest bull market for the asset ever.”Of course, the exercise is a limp defense if you’re looking at losses of more than 40% from the top. Bulls tout its use for diversification against inflation while skeptics question everything from its energy use to the regulatory risk. If anything, the performance data is a lens into the psychology of the HODL crowd who have been piling into the asset despite frequent busts like Wednesday’s.Bitcoin pared losses to 15% as of 12:12 a.m. in New York after Tesla’s CEO Elon Musk tweeted that the company has “diamond hands,” using emoticons to spell out the phrase.Read more: Bitcoin Plunge Wipes $500 Billion From Value in Crypto RoutThe risk-adjusted return is calculated by dividing total return by volatility, or the degree of daily price variation. The measure, which isn’t annualized, is designed to show performance per unit of risk.Viewed from a wider lens since 2010, Bitcoin’s risk-adjusted return showed similar outperformance relative to other assets. The same holds true for a variety of time periods -- the start of 2020 or 2015 -- that capture its most recent rally. Periods in which it doesn’t hold true include using a starting point in 2017, when the coin tumbled 80% from peak to trough.Still, Chris Grisanti, chief equity strategist at MAI Capital Management, said that it’s difficult to determine whether Bitcoin is truly a superior investment.“When you compare it to commodities, when you compare it to stocks, you have more than a century of data for the others and for Bitcoin you don’t,” said Grisanti. “There haven’t been enough different investing environments for Bitcoin as there have been for other asset classes.”Interest in digital assets has picked up in recent months as more traditional firms who were long hesitant to the crypto space warmed up to cryptocurrencies. But many others are reluctant to embrace the asset due to its heightened volatility.“Look, what people fail to understand is the newness of digital assets,” Julian Emanuel, chief equity and derivatives strategist at BTIG, said on Bloomberg TV. “You just have to understand that with the evolution of this technology -- and it really is as much about the technology as anything else -- you’re just going to have immense amounts of volatility.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • GLOBAL MARKETS-Bitcoin drops to lowest since Jan; stocks fall before Fed minutes

    Stock indexes fell globally on Wednesday ahead of minutes from the U.S. Federal Reserve, while cryptocurrencies plunged after regulatory moves from China, with bitcoin dropping to its lowest level since January. Equity investors worry that rising inflationary pressures as evidenced by stronger-than-expected consumer price readings could prompt the Fed to pare back its support sooner than many anticipate. "There is no question that inflation worries have creeped into the investor mindset, which will weigh on the tech stocks and in all likelihood we will see yields go up," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.

  • Cathie Wood, Still a Bitcoin Believer, Sees It Going to $500,000

    (Bloomberg) -- Cathie Wood is keeping the faith, even in the face of Bitcoin’s massive plunge that had wiped $500 billion from the coin’s peak market value at one point.The head of Ark Investment Management said in an interview on Bloomberg TV that she still expects the cryptocurrency to reach a price of $500,000. She noted that as highly volatile sectors in the stock market are selling off amid inflation fears, Bitcoin is dropping as well. It last traded just below $38,000.“We go through soul searching times like this and scrape the models, and yes our conviction is just as high,” she said.Although Elon Musk has soured on Bitcoin due to its environmental impact, Wood said once renewables are incorporated into the Bitcoin mining technology, like she expects, “Elon will come back and be part of that ecosystem.”Musk’s quick change in opinion on the largest cryptocurrency may have been caused by pushback from institutional shareholders like BlackRock, she said.Despite her long-term conviction, Bitcoin and other digital coins may face more pain before mounting a comeback.“You never know how low is low when a market gets very emotional,” she said. “I think we’re in a capitulation phase. That’s a really great time to buy no matter what the asset is.”Wood has consistently loaded up on shares of Coinbase Global Inc. in the past two weeks as the cryptocurrency exchange has dipped below its April direct listing reference price and to a record low on Wednesday.In the interview, Wood also addressed the prospects for a Bitcoin exchange-traded fund to be approved in the U.S. this year, which appears to some less likely after a string of comments from regulators. Wood thinks the latest plunge could be a good thing for the prospects of approval. “The odds are going up now that we have had this correction,” she said.Although her funds have taken a hit this year, with her flagship Ark Innovation ETF down more than 34% from its high in February, the firm’s product line-up hasn’t yet faced a monthly outflow, she said.“There were a lot of commentators out there, shall I say, screaming about how our ETFs would have to shut down, which is impossible,” she said.In fact, the move toward value sectors that’s caused her funds to suffer is encouraging to her.“The forces that the coronavirus put in motion supporting all of the innovation in which we invest, they’re not looking back,” she said. “We’re looking at this saying: Alright, on sale. Innovation is on sale. Oh and by the way, the bull market had broadened out.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • AMD CEO Lisa Su Says Chipmaker’s Path Gets Tougher From Here

    (Bloomberg) -- Advanced Micro Devices Inc. Chief Executive Officer Lisa Su, who took the helm in 2014, has returned the chipmaker to profitability, taken market share from Intel Corp. and banished concerns about the company running out of cash.More than six years into her tenure, AMD has seen its market value surge to more than $90 billion from about $2 billion when Su was named CEO. On Wednesday, the company unveiled a $4 billion stock-repurchase plan, its first buyback since 2001, highlighting its new financial heft and stability. Still, Su isn’t ready to take a victory lap.“Without a doubt it does not get easier,” Su said in an interview with Bloomberg Technology’s Emily Chang. “We’re in a very competitive market. We have big ambitions about what we want to be able to do.”Su’s AMD has gone from an also-ran chipmaker offering cheaper alternatives to Intel products to a respected provider of computer processors that win orders based on superior performance. Su, the first woman to become CEO of a major chip company, said her main accomplishment has been earning AMD a new reputation for delivering on its promises. She has won customers’ trust that AMD can consistently supply improving products, she said.The executive has restored AMD’s reputation and performance at a critical juncture for the industry. The Covid-19 pandemic accelerated demand for remote computing via the internet and for devices needed to support study and work at home. And all this came during a period when Intel, the world’s largest chipmaker, had struggled to improve its manufacturing technology, one of the foundations of its decades-long dominance of the computer industry.Su said recent chip shortages, which have hamstrung multiple industries as the world economy comes back to life, are not a disaster -- they’re just another example of the periodic imbalances between supply and demand in the semiconductor market. One silver lining for the chip industry is that it has made customers more open to longer-term commitments.“Normally everybody sort of plans their worlds separately, and now we’re really having to plan our worlds together,” she said.She predicts supply of AMD chips, which are built by Taiwan Semiconductor Manufacturing Co., will improve throughout 2021.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000

    Wood made the prediction even as the leading cryptocurrency tumbled on Wednesday.