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Qualcomm Unveils Latest Snapdragon 8 Gen 2 Processor
The new chip features hardware ray tracing, powerful AI capability, Wi-Fi 7, and a ton of raw power.
Qualcomm’s Snapdragon Tech Summit (held simultaneously in China and Hawaii) has kicked off in style this year, with the announcement of the company’s latest system-on-chip (SoC) smartphone processors. The newest line of chips is known as the Snapdragon 8 Gen 2 and will deliver significant improvements in performance and efficiency, as well as being what Qualcomm describes as “purpose-built for AI.”
The new chip boasts a 4.35x improvement in performance and a staggering 60% boost to its power-per-watt efficiency. Snapdragon 8 gen 2 will also feature dedicated AI processing in the modem portion of the chip, improving throughput and range, and supporting 10Gbps speeds.
Graphics (GPU) performance will also receive a considerable spec bump, with the new chip featuring an improved Adreno GPU with hardware ray tracing that only draws a measly 5w of power. According to Qualcomm, the updated GPU also supports “Vulkan 1.3, HDR Vivid, Adaptive HDR, OLED aging compensation, and Unreal Engine 5 MetaHumans, with a 25% increase in performance and power efficiency.”
Other upgrades to the Snapdragon 8 Gen 2 include Wi-Fi 7 connectivity, dual Bluetooth, a new 3.2GHz Arm Cortex X3 high-performance core, and support for dynamic spatial audio.
AI Processing Power
As well as a substantial overall boost to specs, Qualcomm is keen to show off Snapdragon 8’s AI engine, which features a dedicated power plane and double the power from the chip’s tensor processing cores. Thanks to a feature known as Hexagon Direct Link, fast, real-time AI processing will be possible, which will aid the chip when put to work on complex tasks such as text-to-speech, photography, and other power-hungry computational tasks.
Improved Sensor Hub
Finally, Qualcomm’s new Snapdragon 8 chip will also use its updated AI smarts to enable real-time monitoring, allowing devices equipped with the processor to utilize the camera even while sleeping. This feature will allow QR codes to be scanned, and add the ability to actively monitor user activity, meaning notifications won’t appear to unauthorized viewers.
So when can we expect manufacturers to start using the new Snapdragon chip? Qualcomm has already partnered with the likes of OnePlus, Motorola, Sony, and Asus. That means we might see newly updated phones shipping by the end of the year — though if you’re a Samsung fan, you might have to wait until 2023 to see the processor in action in the Galaxy S23 series.
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Paymob Extends Series B Funding To $72M Amid Continued Growth
The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.
Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.
The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.
This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.
Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.
Also Read: Zoho Expands Qatar Operations & Releases New Survey Data
The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.
Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.