TOKYO -- Japan's industry ministry said Tuesday it will help fund the mass production of cutting-edge memory chips by Kioxia Holdings and Western Digital (WD).
The two companies' investment totals 729 billion yen ($4.9 billion), and the Ministry of Economy, Trade and Industry will provide up to 243 billion yen in funding. The plan is to supply the chips for use in data centers, demand for which is likely to grow, driven by the increasing use of generative artificial intelligence applications.
