U.S. Chip Project Significant for Japan-U.S. AI Edge: Akazawa
Tokyo, Oct. 15 (Jiji Press)--Japanese Economy, Trade and Industry Minister Ryosei Akazawa on Thursday praised the U.S. semiconductor plant project selected for the third round of Japanese funding in the United States under the two countries' tariff agreement. The project "holds great significance for Japan and the United States to work together to secure a competitive advantage in the age o...
Japanese Economy, Trade and Industry Minister Ryosei Akazawa commended the United States' recent decision to fund a semiconductor plant project in the third round of Japanese investment under their tariff agreement. Akazawa spoke at a press conference, emphasizing the importance of the partnership between Japan and the U.S. in securing a competitive edge in the rapidly advancing field of artificial intelligence.
Japan had committed to providing $550 billion in investment and loans to the U.S. in return for the reduction of tariffs on Japanese imports. The new project, spearheaded by U.S. semiconductor contract manufacturer GlobalFoundries Inc., involves the construction of two plants in New York. The first plant alone will receive approximately $10 billion in investment from Japan. The construction of the facility is set to commence this year.
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