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Airbnb Reportedly Prices Shares At $68 Each

At $68 per share, the company raised around $3.5 billion through its IPO and is valued at about $47 billion….

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Airbnb priced its shares at $68 apiece, Bloomberg reported Wednesday.

At $68 per share, the company raised around $3.5 billion through its IPO and is valued at about $47 billion.

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Airbnb initially set a price range of between $44 and $50 before increasing it to between $56 and $60. The San Francisco-based travel and hospitality company targeted an approximately $3 billion IPO raise, and ended up surpassing that goal.

With $3.5 billion raised, Airbnb comes in as one of the largest tech IPOs of the year, ahead of food-delivery app DoorDash, which started trading on the New York Stock Exchange on Wednesday, and Snowflake. Cloud data warehousing company Snowflake raised $3.36 billion through its IPO and DoorDash raised $3.37 billion.

Founded in 2007, Airbnb is one of the older unicorns to go public this year. As a private company, it had raised around $6.4 billion in total funding, according to Crunchbase, most recently raising $1 billion in funding from Silver Lake and Sixth Street and $1 billion in debt earlier this year.

Before the COVID-19 pandemic, the company was valued at around $31 billion. The pandemic initially hit Airbnb’s revenue, and the company laid off about a quarter of its staff in May. But despite the difficulties for the travel and hospitality industry this year, Airbnb was able to recover somewhat by focusing on local travel, and it pushed forward with its IPO. The company’s public debut, expected for Thursday, has been one of the most anticipated IPOs during a busy year for the public markets.

The company was last privately valued at $18 billion.

Airbnb’s pricing follows a blockbuster public debut for DoorDash. The food-delivery company priced its shares at $102 apiece, above the set range of $90 to $95, and closed its first day of trading 85 percent above its IPO price.

Illustration: Li-Anne Dias

Source: https://news.crunchbase.com/news/airbnb-reportedly-prices-shares-at-68-each/

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Reduced microbial stability linked to soil carbon loss in active layer under alpine permafrost degra

Credit: NIEER Chinese researchers have recently discovered links between reduction in microbial stability and soil carbon loss in the active

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Chinese researchers have recently discovered links between reduction in microbial stability and soil carbon loss in the active layer of degraded alpine permafrost on the Qinghai-Tibet Plateau (QTP).

The researchers, headed by Prof. CHEN Shengyun from the Northwest Institute of Eco-Environment and Resources (NIEER) of the Chinese Academy of Sciences (CAS), and XUE Kai from University of Chinese Academy of Sciences, conducted a combined in-depth analysis of soil microbial communities and their co-occurrence networks in the active permafrost layer along an extensive gradient of permafrost degradation.

The QTP encompasses the largest extent of high-altitude mountain permafrost in the world. This permafrost is different than high-latitude permafrost and stores massive soil carbon. An often ignored characteristic of permafrost is that the carbon pool in the active layer soil is more active and directly affected by climate change, compared to deeper layers.

Triggered by climate warming, permafrost degradation may decrease soil carbon stability and induce massive carbon loss, thus leading to positive carbon-climate feedback. However, microbial-mediated mechanisms for carbon loss from the active layer soil in degraded permafrost still remain unclear.

In this study, the researchers found that alpine permafrost degradation reduced the stability of active layer microbial communities as evidenced by increased sensitivity of microbial composition to environmental change, promoted destabilizing network properties and reduced resistance to node or edge attacking of the microbial network.

They discovered that soil organic carbon loss in severely degraded permafrost is associated with increased microbial dissimilarity, thereby potentially contributing to a positive carbon feedback in alpine permafrost on the QTP.

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The results were published in PNAS in an article entitled “Reduced microbial stability in the active layer is associated with carbon loss under alpine permafrost degradation”.

This research was financially supported by the National Natural Science Foundation of China, the Strategic Priority Research Program (A) of CAS and the Second Tibetan Plateau Scientific Expedition and Research Program.

Triggered by climate warming, permafrost degradation may decrease soil carbon stability and induce massive carbon loss, thus leading to positive carbon-climate feedback. However, microbial-mediated mechanisms for carbon loss from the active layer soil in degraded permafrost still remain unclear.

Source: https://bioengineer.org/reduced-microbial-stability-linked-to-soil-carbon-loss-in-active-layer-under-alpine-permafrost-degra/

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Chipmaker TSMC says too early to say on Germany expansion

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW) said on Monday that it was too early to say whether it will build factories in Germany and that talks were in early stages, as the EU seeks to reduce chip imports amid a supply shortage.

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The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, Jan. 19, 2021. REUTERS/Ann Wang

TAIPEI, July 26 (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW) said on Monday that it was too early to say whether it will build factories in Germany and that talks were in early stages, as the EU seeks to reduce chip imports amid a supply shortage.

The European Commission had held discussions with global chip giants, including Intel (INTC.O) and TSMC, as the EU seeks to boost semiconductor production and shield itself from shocks in the global supply chain. read more

Taiwan and TSMC, the world’s largest contract chip manufacturer, have become central in efforts to resolve the pandemic-induced chip shortage that has forced automakers to cut production and hurt manufacturers of smartphones, laptops and even appliances.

“We are currently doing reviews on Germany seriously, but it’s still in very early stages,” TSMC chairman Mark Liu told an annual shareholder meeting when asked about building chip fabrication plants in the EU country.

“We continue to communicate with our major clients in Germany to see whether this is most important and effective for our clients,” he said. “It’s too early to say.”

TSMC signalled in July plans to build new factories in the United States and Japan amid concern over the concentration of chipmaking capability in Taiwan, which produces most of the world’s most advanced chips and is geographically close to political rival China. read more

On TSMC’s $12 billion factory in the U.S. state of Arizona, Liu said the expansion would support client demand, especially in infrastructure and national security.

“Clients are the backing of our global expansion. We will move very cautiously,” Liu said, adding that the company’s customers would help share costs of overseas operations.

TSMC announced this year plans to invest $100 billion over the next three years to increase capacity, riding on what it called a “multiple years of growth opportunities”, as the COVID-19 pandemic and new technologies drove global demand for advanced chips.

Reporting By Yimou Lee. Editing by Gerry Doyle

Our Standards: The Thomson Reuters Trust Principles.

Taiwan and TSMC, the world’s largest contract chip manufacturer, have become central in efforts to resolve the pandemic-induced chip shortage that has forced automakers to cut production and hurt manufacturers of smartphones, laptops and even appliances.

Source: https://www.reuters.com/technology/chipmaker-tsmc-says-too-early-say-germany-expansion-2021-07-26/

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