Japan Pledges Fresh $65 Billion in Support for Chips and AI

Tokyo looks to keep up with global wave of spending on tech
Economic package draft sketches out new chip support framework

WATCH: Japanese Prime Minister Ishiba is pledging over $65 billion in support for the nation’s semiconductor and AI sector. Isabel Reynolds reports.Source: Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Takashi Hirokawa, Yoshiaki Nohara, and Takashi Umekawa

November 11, 2024 at 2:43 PM UTC

Updated on

November 12, 2024 at 4:59 AM UTC

This article is for subscribers only.

Japanese Prime Minister Shigeru Ishiba pledged more than $65 billion of fresh support for the nation’s semiconductor and artificial intelligence sector as Tokyo looks to keep up with a global spending spree on cutting-edge tech.

Ishiba said he hoped public aid of more than ¥10 trillion ($65 billion) for the sector by fiscal 2030 would serve as a catalyst to generate public and private investment of more than ¥50 trillion over the next 10 years.