Japan pledges additional $6.4bn in support for chipmaker Rapidus

The Japanese government will provide Japanese chip start up Rapidus with about US$6.4 billion in additional aid over the two years ending fiscal 2027 under new measures announced this week. Ryosei Akazawa, Japanese Minister of Economy, Trade and Industry said that Rapidus "is the cornerstone of the crisis management investment being promoted by the government and is a national project that must succeed for the sake of the national interest,” and that the Japanese government “ will continue to do everything to ensure the project's success.”