Japan to roll out $65bn in support for chips, AI

Measures will run through fiscal 2030, with eye on homegrown chipmaker Rapidus

20241111N Rapidus

Japanese chipmaker Rapidus is expected to receive government help under a new framework outlined by Prime Minister Shigeru Ishiba on Nov. 11. (Photo by Yuki Nakao)

MARI ISHIBASHI, Nikkei staff writer

TOKYO -- The Japanese government will provide at least 10 trillion yen ($65 billion) in support through fiscal 2030 to boost the semiconductor and artificial intelligence industries under plans laid out Monday by Prime Minister Shigeru Ishiba.

"We will formulate a new assistance framework to attract more than 50 trillion yen in public and private investment over the next 10 years," Ishiba said in an evening news conference.

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