Japan approves up to $3.9B in subsidies to chip venture Rapidus, as the company tries to close the gap with TSMC in cutting-edge fabrication technology (Yuki Hagiwara/Bloomberg)

Yuki Hagiwara / Bloomberg:

Japan approves up to $3.9B in subsidies to chip venture Rapidus, as the company tries to close the gap with TSMC in cutting-edge fabrication technology  —  Japan approved up to ¥590 billion ($3.9 billion) in subsidies to chip venture Rapidus Corp., committing more money to its ambition to catch up in semiconductor manufacturing.