‘We did not have confidence’ says Zoho’s Sridhar Vembu on shelving $700 million semiconductor plans

Zoho has suspended its semiconductor chip manufacturing plans. It had planned to invest about $700 million to establish semiconductor manufacturing facilities. The company was unable to find the right technology partner for its semiconductor businesses, Reuters reported.

Sridhar Vembu, Zoho’s founder, said in a post on X that the semiconductor manufacturing business is very capital-intensive and requires backing from the government as well.