Covid-19 vaccine profits at $1000 per second; UK to probe Nvidia-Arm deal; Plus, Sabeer Bhatia on his latest venture

Pfizer, BioNTech and Moderna—three of the world’s biggest Covid vaccine makers—are making an estimated $1000 every second in profits even as the world’s poorest go unvaccinated, according to a press release from Oxfam, a UK-based non-profit development organisation. The estimate is based on a report by the People’s Vaccine Alliance. The Alliance has 80 members including the African Alliance, Global Justice Now, Oxfam, and UNAIDS. Pfizer and BioNTech have delivered less than one percent of their total vaccine supplies to low-income countries, while Moderna has delivered just 0.2 percent. Meanwhile, 98 percent of people in low-income countries have not been fully vaccinated, according to the release. Britain is moving into phase two of its investigation of Nvidia’s proposed $54 billion takeover of UK chip designer, Arm, after the first phase of the probe by the country’s competition authority revealed concerns of both competition and national security, according to a government statement. This could pose a setback to Arm’s majority owner, SoftBank Group. The deal, when announced in September 2020, was pegged at $40 billion in cash and stock but has since risen in value to $54 billion. UK’s Competition and Markets Authority has found that the acquisition “may result in a substantial lessening of competition” across four key markets: data centres, Internet of Things, automotive, and gaming, according to the statement. The authority now has 24 weeks, plus an additional eight weeks, if needed to conclude its investigations. Arm’s chips go into several devices including Apple’s iPhones. The deal is also under scrutiny in Europe and China. Infosys and MIT Technology Review's custom publishing division Insights has launched The Cloud Hub—a forum offering insights and learning from successful cloud transformations to help global enterprises accelerate their cloud journey, the Indian IT services company said in a press release. The Cloud Hub aims to create a community of experts from the industry, including practitioners, providers and influencers, to debate key challenges and opportunities surrounding one of the biggest technology disruptions that the world is witnessing. (03:03) Interview: Hotmail’s co-founder Sabeer Bhatia on his latest venture, ShowReel, to bring ‘purposeful’ short videos to millions Even as a new generation of entrepreneurs is trying to reinvent email—think Rahul Vohra, at SuperHuman or Bhavin Turakhia with Titan—Sabeer Bhatia, the original email entrepreneur, continues to seek his next big challenge. In today’s interview, Sabeer tells Forbes India about ShowReel, which he hopes is timed right to bring “purposeful” short videos to millions of users.