Japan and US Reach Agreement on First Semiconductor Project Under $550 Billion Investment Plan

Deep News10-15 11:50

Japanese Minister of Economy, Trade and Industry Ryosei Akazawa stated on Thursday that Japan and the United States have reached an agreement on the first semiconductor-related investment project under the $550 billion investment plan.

GLOBALFOUNDRIES Inc. plans to build a new chip factory in New York, with an expected investment of up to $21 billion.

Akazawa stated that in the era of artificial intelligence, cooperation with the United States in chip supply is crucial for economic security.

He said that Japan remains firmly committed to implementing the terms of the trade agreement reached last year; the latest project aims to further strengthen bilateral relations.

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