Japanese chip company Rapidus completes 267.6 billion yen financing round

Japanese chip company Rapidus announced the completion of a ¥267.6 billion funding round, with funds from the Japanese government and private companies. Of this, ¥100 billion came from an independent administrative agency under the Ministry of Economy, Trade and Industry, while the remaining ¥167.6 billion was from private placements by 32 companies, including Canon, IBM Japan, Fujitsu, NTT, SoftBank, Sony, and Kioxia. This strategic financing plan will help Rapidus steadily advance its R&D progress, aiming to achieve mass production of 2-nanometer logic semiconductors by 2027.