Japan’s Chip Venture Rapidus Gets $1.7 Billion Funding Boost

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Japan’s Rapidus Corp. secured investment totaling ¥267.6 billion ($1.7 billion) from the government and dozens of companies including Sony Group Corp., Toyota Motor Corp. and SoftBank Corp. in a sign of growing hopefulness around the long-shot chip venture.Rapidus, which aims to begin mass production of 2-nanometer chips by March 2028, is in talks with more than 60 companies eager to design chips for artificial intelligence, robotics and the growing need to field compute on devices, Chief Executive Officer Atsuyoshi Koike said in a news conference Thursday.