Digitally Generated Images Wong Yu Liang | Moment | Getty ImagesChina set up a multibillion-dollar state-backed investment chip fund last week — and one observer says it will likely focus on advanced chips for AI and establishing the entire supply chain.
"Fund 3 will focus on [establishing] the total supply chain.
watch nowChina has piled 344 billion Chinese yuan ($47.5 billion) into a third investment fund that aims to boost its domestic semiconductor industry amid an escalating technology war with the U.S.
The China Integrated Circuit Industry Investment Fund, also known as the National Integrated Circuit Industry Investment Fund and the Big Fund, is part of China's efforts to reduce foreign reliance in its domestic chip industry.
The first two funds raised 138.7 billion yuan and 204 billion yuan in 2014 and 2019 respectively.
Persons:
Wong Yu Liang, Winston Ma, Ma, CNBC's
Organizations:
NYU School of Law, U.S, China Integrated Circuit Industry Investment Fund, National Integrated Circuit Industry Investment Fund, Big
Locations:
China, Netherlands