China Plans to Inject $1.9 Billion Into Top Memory Chipmaker
- Yangtze Memory is China’s closest rival to Samsung and Hynix
- Beijing’s main chip investment vehicle stirs back to life
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China has pledged to invest an additional $1.9 billion in the country’s biggest maker of memory chips, a deal that may herald a renewed influx of government capital into an industry hemmed in by US sanctions.
The National Integrated Circuit Industry Investment Fund Ltd. will commit 12.9 billion yuan towards Yangtze Memory Technologies Co., according to a government website that discloses company registration information. The capital infusion from the Big Fund, as Beijing’s signature investment vehicle is commonly known, was slated for completion on Jan. 31, according to Tianyancha.