The Japanese government will put a total of 250 billion yen (about $1.6 billion) in Rapidus Corporation, a chip company backed by the state. This funding will be disbursed over the next two fiscal years, bringing Japan closer to its goal of providing a total of 3 trillion yen in support to Rapidus. The government aims to assist Rapidus in the mass production of advanced 2-nanometer logic chips, potentially challenging TSMC, the Taiwan-based industry leader. According to Japanese officials, under the new arrangement, the government will initially hold approximately 10% of the voting shares in Rapidus, with the majority of its equity without voting rights. In addition to state support, Rapidus has also secured a total of 167.6 billion yen from around 30 private companies to help achieve its goal of commencing mass production by March 2028.