Japan approves chipmaker subsidies

Japan has reportedly approved approximately $4 billion in subsidies to support the local chipmaker Rapidus. This significant financial backing aims to bolster domestic semiconductor manufacturing capabilities amidst global supply chain challenges and geopolitical tensions. The subsidies are expected to accelerate Rapidus's production efforts and technological advancements in the highly competitive chip industry. This move underscores Japan's strategic focus on strengthening its position in critical technology sectors and ensuring supply chain resilience.