Japan’s ruling party to allocate $6.5B annual support for chipmakers and AI

The ruling party in Japan, the Liberal Democratic Party (LDP), plans to allocate approximately ¥1 trillion ($6.5 billion) annually to manufacture chips and support the development of artificial intelligence. The government will allocate this money into the standard annual budget, rather than a one-time budget, so the support remains constant and more predictable. The global market for semiconductors has grown fast over the past 10 years, largely driven by consumer electronics, electric vehicles, and AI. There has been significant government and private investment in chip manufacturing in countries such as the United States, South Korea, Taiwan, and China. Japan has fallen behind, and analysts caution that the state risks falling ever farther behind in next-generation chip technologies if it does not make regular investments. Japan puts funding for chips and AI in the annual budget The Japanese government has consistently utilized supplementary budgets to support the semiconductor industry. These budgets...

https://www.cryptopolitan.com/japan-plans-6-5-b-annual-push-for-chips-ai/