Japan, 65 billion USD for the chip industry - Investments aimed at expanding the artificial intelligence sector
Japan announced a $65 billion plan to stimulate the chip industry and artificial intelligence. The plan aims to increase investment and improve the economy, supporting mass production and the development of advanced technologies.
Japanese Prime Minister Shigeru Ishiba unveiled a 10 trillion yen, or $65 billion, plan to boost the country's chip and artificial intelligence industries through subsidies and other financial incentives.
The move comes as countries seek to tighten control over their chip supply chains following global shocks, including trade tensions between the United States and China.
Japan's government will present the plan, including bills to support mass production of next-generation chips, in the next session of parliament. The program is specifically targeting chipmaker venture Rapidus and other AI chip suppliers.
The government expects the economic impact to reach about 160 trillion yen, according to the draft.
Rapidus is led by industry veterans and aims to mass-produce the chips on the northern island of Hokkaido from 2027 in partnership with IBM and Belgium-based research organization Imec.
The latest plan, part of the government's comprehensive economic package to be approved by the cabinet on Nov. 22, will call for a total of 50 trillion yen ($320 billion) of public and private sector investment in chips over the next 10 years.
The prime minister said the government has scheduled a meeting with business and labor union representatives later this month to discuss next year's annual wage negotiations.
Achieving sustainable wage increases has been a priority for the government as rising living costs hit households, potentially impacting consumption and the economy.
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