Japan Invests $3.9 Billion in Rapidus Chip Venture

Japan has approved subsidies of up to ¥590 billion ($3.9 billion) for chip venture Rapidus Corp. The funding will aid in the purchase of chipmaking equipment and the development of advanced back-end chipmaking processes. This commitment is part of the country's ambition to catch up in semiconductor manufacturing. Rapidus Corp, a 19-month-old startup, has already received ¥330 billion in public funds and aims to mass produce chips in Japan’s Hokkaido prefecture. This move positions Japan to compete with industry leaders such as Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. in the global chip market.