Japan unveils $65 bn plan to aid domestic chip industry

Japanese Prime Minister Shigeru Ishiba on Monday unveiled a $65 billion plan to boost the country’s chip and artificial intelligence industries via subsidies and other financial incentives.

The plan, which will provide support worth 10 trillion yen ($65 billion) or more by fiscal 2030, comes as countries look to strengthen control over their chip supply chains after global shocks including trade tensions between the United States and China.