The Global R&D Index for the week ending May 17, 2024 closed at 3,623.91 for the 25 companies included in the index, marking a 1.69% increase from the previous week. Twenty members of the RDWI saw gains in value, with the highest being Alibaba at 10.62%. On the other hand, five companies saw losses, with Bristol-Myers Squibb showing the largest decline at -2.02%.
Honda Motor Co. and IBM announced a collaboration in researching next-generation computing technologies for addressing emerging vehicle processing challenges. The U.S. Department of Energy’s Argonne National Laboratory revealed plans to build a new R&D facility for developing and testing large-scale fuel cell systems. Bedrock Materials, a Stanford University spinoff, decided to establish its R&D headquarters in Chicago. Heart Aerospace announced the opening of an R&D center in Los Angeles to focus on developing regional hybrid-electric aircraft.
Intel is in negotiations with Apollo Global Management to secure funding for a new semiconductor plant in Ireland. Microsoft aims to have its suppliers use 100% carbon-free energy by the end of the decade. Google plans to provide AI-based answers to users using its search engine by the end of 2024. The European Commission predicts that the eurozone’s annual inflation rate will reach its target earlier than anticipated, with growth rates for 2025 slightly reduced. OpenAI introduced a more affordable version of its flagship AI system with a new voice assistant feature.
The R&D Global R&D Index is a weekly summary of major international companies engaged in research and development activities. The index comprises the 25 biggest spenders on industrial R&D in various sectors such as pharmaceuticals, automotive, and ICT. These companies invested nearly $260 billion in R&D in 2019, accounting for about 10% of the global R&D expenditure. Stock prices used in the index are obtained from NASDAQ, NYSE, and OTC common stock prices.
In summary, the recent developments in the R&D sector highlight the ongoing innovation efforts of key industry players across various fields. From advancements in computing technologies to sustainable energy solutions and AI applications, companies are investing in research to drive future growth and address emerging challenges in their respective industries.
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