Zoho shelves $700-mn semiconductor chip plant plan: Sridhar Vembu

Tamil Nadu-based software-as-as-service (SaaS) major Zoho Corporation has shelved its plan to build a $700-million compound semiconductor fabrication plant, the company’s founder Sridhar Vembu said.

“On our semiconductor fab investment plan, since this business is so capital intensive it requires government backing, we wanted to be absolutely sure of the technology path before we take taxpayer money. We did not have that confidence in the tech so our board decided to shelve this idea for the time being, until we find a better tech approach,” Vembu said on X.