Latest news with #US-led
Time of India
5 hours ago
- Business
- Time of India
China's $50 billion chip fund switches tack to fight US curbs
China 's main chip investment fund is planning to focus on the country's key shortcomings in sectors like lithography and semiconductor design software, adjusting its approach to better overcome US efforts to stop its technological advances. The third phase of the state-backed National Integrated Circuit Industry Investment Fund, better known as Big Fund III , will focus on backing local companies and projects in areas considered bottlenecks to technological advances, people familiar with the matter said. That includes lithography systems, where Dutch firm ASML Holding NV dominates, and chip design tools, an arena controlled by US companies Cadence Design Systems Inc. and Synopsys Inc. The new vehicle has so far secured only a portion of the 344 billion yuan ($48 billion) of capital it originally sought when first created more than a year ago as Beijing is being more cautious with its semiconductor bets, according to the people, though the shortfall should be temporary. The Big Fund III plans to hold its investments for a longer period compared to the two previous phases, they said, declining to be named discussing a private government initiative. A years long US-led campaign to curb China's access to chips, equipment and software has appeared to stall Beijing's ambitions in semiconductors, essential to creating cutting-edge AI. Chinese President Xi Jinping has declared the elimination of such choke-points a top priority, particularly as local artificial intelligence players including DeepSeek and Alibaba Group Holding Ltd. are trying to compete on the global stage with deep-pocketed US rivals such as OpenAI in a critical field. China's Big Fund for years sprinkled capital throughout most sectors of the semiconductor industry, from leading manufacturers such as Semiconductor Manufacturing International Corp. to small design companies. It's now adopting a more targeted approach, after massive investments during the fund's first two phases failed to deliver real breakthroughs beyond a surprisingly sophisticated Huawei Technologies Co. mobile processor in 2023. Big Fund III is preparing to make its first major investments in coming months, the people said. Part of its directive is to spur industry consolidation, through deal-making or otherwise, they added. If the new vehicle achieves the scale it originally aimed for, it will be China's largest-ever semiconductor fund, bigger than the previous two phases combined. It counts China's Ministry of Finance, state-owned banks and several local government-backed funds as limited partners, according to corporate data provider Tianyancha. It's created three sub-funds to help identify investment targets throughout the supply chain, the people said. China's Ministry of Finance did not respond to a faxed request for comment. Messages to an email for Big Fund III listed on Tianyancha went unanswered. It's unclear whether the fund's managers have identified potential investment or deal targets. Some of the biggest names in China's chipmaking equipment space include Shanghai Zhangjiang High-Tech Park Development Co., which holds an 11% stake in privately-held lithography machine maker Shanghai Micro Electronics Equipment Group Co. Chinese media outlets have also speculated that Huawei eventually wants to build its own lithography machines, required to make cutting-edge AI chips that can rival Nvidia Corp.'s offerings. Empyrean Technology Co. is one of Chinese's best hopes of competing with leading global chip design software providers including Cadence and Synopsys. China's national chip fund was inaugurated about a decade ago with roughly 100 billion yuan in capital, and has since spearheaded the state's investments in all things semiconductors. It's serving as an important signal of Beijing's policy imperatives, as well as a scorecard for government endorsement. In recent years though, it's faced setbacks in achieving its mission, both internal and external. The US banned Nvidia from selling its best AI accelerators to China, while allies such as Japan and the Netherlands have joined the campaign to ringfence the country's tech sector. Stung by a lack of scientific achievement, Beijing initiated a series of anti-graft probes into top chip industry officers in 2022.
India Today
8 hours ago
- Politics
- India Today
Putin says US-Russia ties stabilising, thanks Trump. US President responds
Signalling a positive shift in the relationship between Russia and the United States, Russian President Vladimir Putin said that the ties between the two global powers are beginning to stabilise in some ways and thanked US President Donald Trump. The Russian leader expressed his "great respect" for Trump and said he is willing to meet the US quickly responded, saying Putin made some "very nice" and Putin have been at odds, particularly over Russia's refusal to end the war in Ukraine, despite Trump's repeated appeals, at one point even calling the Russian leader 'absolutely crazy'. Nevertheless, both the White House and the Kremlin have often batted for stabilising their relations. "In general, thanks to President Trump, relations between Russia and the United States are beginning to level out in some ways. Not everything has been decided in the sphere of diplomatic relations, but the first steps have been taken, and we are moving forward," the Russian President told a press conference in Minsk on development comes nearly two weeks after the two leaders held a lengthy phone conversation to discuss the boiling Middle East amid the Israel-Iran conflict, as well as Russia's ongoing war in about Putin's comments, Trump responded, saying, "Vladimir Putin made some very nice statements today," adding that such remarks would have been impossible under former President Joe Biden."He respects our country again. He didn't respect it a year ago, I can tell you that," the former US President said at the White FOR TALKS WITH UKRAINE: PUTINThe Russia-Ukraine war has continued unabated, despite a US-led diplomatic effort that resulted in two rounds of direct peace talks between Russian and Ukrainian delegations. However, the negotiations yielded no major breakthroughs, with both sides remaining deeply divided over the terms for ending the Friday, Russian President Vladimir Putin said Moscow was prepared to engage in a new round of peace talks with Ukraine, potentially in Istanbul, although the time and venue were yet to be finalised. Acknowledging significant differences in the proposals exchanged during earlier talks, Putin expressed hope that continued dialogue could help bridge the to reporters in Minsk, Putin said negotiators from both sides remained in regular contact. He also stated that Russia was ready to return the bodies of 3,000 more Ukrainian meanwhile, said that he thinks something will happen in Russia's war in Ukraine that would get it "settled," citing his recent call with Putin. - Ends
Time of India
8 hours ago
- Business
- Time of India
China's $50 billion chip fund switches tack to fight US curbs
China 's main chip investment fund is planning to focus on the country's key shortcomings in sectors like lithography and semiconductor design software, adjusting its approach to better overcome US efforts to stop its technological advances. The third phase of the state-backed National Integrated Circuit Industry Investment Fund, better known as Big Fund III , will focus on backing local companies and projects in areas considered bottlenecks to technological advances, people familiar with the matter said. That includes lithography systems, where Dutch firm ASML Holding NV dominates, and chip design tools, an arena controlled by US companies Cadence Design Systems Inc. and Synopsys Inc. The new vehicle has so far secured only a portion of the 344 billion yuan ($48 billion) of capital it originally sought when first created more than a year ago as Beijing is being more cautious with its semiconductor bets, according to the people, though the shortfall should be temporary. The Big Fund III plans to hold its investments for a longer period compared to the two previous phases, they said, declining to be named discussing a private government initiative. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Victoria Principal Is Almost 75, See Her Now Reportingly Undo A years long US-led campaign to curb China's access to chips, equipment and software has appeared to stall Beijing's ambitions in semiconductors, essential to creating cutting-edge AI. Chinese President Xi Jinping has declared the elimination of such choke-points a top priority, particularly as local artificial intelligence players including DeepSeek and Alibaba Group Holding Ltd. are trying to compete on the global stage with deep-pocketed US rivals such as OpenAI in a critical field. China's Big Fund for years sprinkled capital throughout most sectors of the semiconductor industry, from leading manufacturers such as Semiconductor Manufacturing International Corp. to small design companies. It's now adopting a more targeted approach, after massive investments during the fund's first two phases failed to deliver real breakthroughs beyond a surprisingly sophisticated Huawei Technologies Co. mobile processor in 2023. Live Events Big Fund III is preparing to make its first major investments in coming months, the people said. Part of its directive is to spur industry consolidation, through deal-making or otherwise, they added. If the new vehicle achieves the scale it originally aimed for, it will be China's largest-ever semiconductor fund, bigger than the previous two phases combined. It counts China's Ministry of Finance, state-owned banks and several local government-backed funds as limited partners, according to corporate data provider Tianyancha. It's created three sub-funds to help identify investment targets throughout the supply chain, the people said. China's Ministry of Finance did not respond to a faxed request for comment. Messages to an email for Big Fund III listed on Tianyancha went unanswered. It's unclear whether the fund's managers have identified potential investment or deal targets. Some of the biggest names in China's chipmaking equipment space include Shanghai Zhangjiang High-Tech Park Development Co., which holds an 11% stake in privately-held lithography machine maker Shanghai Micro Electronics Equipment Group Co. Chinese media outlets have also speculated that Huawei eventually wants to build its own lithography machines, required to make cutting-edge AI chips that can rival Nvidia Corp.'s offerings. Empyrean Technology Co. is one of Chinese's best hopes of competing with leading global chip design software providers including Cadence and Synopsys. China's national chip fund was inaugurated about a decade ago with roughly 100 billion yuan in capital, and has since spearheaded the state's investments in all things semiconductors. It's serving as an important signal of Beijing's policy imperatives, as well as a scorecard for government endorsement. In recent years though, it's faced setbacks in achieving its mission, both internal and external. The US banned Nvidia from selling its best AI accelerators to China, while allies such as Japan and the Netherlands have joined the campaign to ringfence the country's tech sector. Stung by a lack of scientific achievement, Beijing initiated a series of anti-graft probes into top chip industry officers in 2022.
Canada Standard
12 hours ago
- Business
- Canada Standard
European NATO states wary of buying US arms Bloomberg
Allies are reportedly put off by Trumps coercive rhetoric and rapprochement with Russia European NATO members have expressed growing unease about increasing their reliance on US weapons amid a sweeping rearmament push, Bloomberg has reported on Friday. During a summit in The Hague this week, NATO states committed to raising military spending to 5% of GDP by 2035 to counter what they described as a "long-term threat posed by Russia to Euro-Atlantic security" - a claim that Moscow has repeatedly denied. Concerns have reportedly emerged about deepening dependence on the American defense industry, particularly under the leadership of President Donald Trump. According to Bloomberg, leaders fear they could be exposed to greater risks, especially in light of Trump's efforts to improve ties with Russia and past threats to annex allied territory. Boosting reliance on US arms has become "an increasingly hard sell at home," the outlet noted. French President Emmanuel Macron has long championed the idea of securing greater defense autonomy for European NATO states, urging the development of a self-sufficient military industrial base. Canada, a key NATO ally, is reportedly reconsidering its involvement in the US-led F-35 fighter jet program and may switch to Swedish alternatives. "We should no longer send three-quarters of our defense capital spending to America," Canadian Prime Minister Mark Carney stated earlier this month. Copenhagen has also displayed some resistance, telling Washington that American arms deals have become "politically difficult" given Trump's suggestion that the US annex Greenland, which is currently controlled by Denmark, Bloomberg reported. READ MORE: NATO summit grim sign for Kiev NYT Unease in the alliance has also been stoked by Trump's move to cut intelligence sharing with Ukraine earlier this year. According to unnamed officials cited by Bloomberg, this decision "alarmed allies," as it raised concerns over how much control the US might wield over weapons exports in the event of a crisis. Nevertheless, a lack of viable domestic alternatives continues to bind European nations to US suppliers, according to the outlet. Decades of underinvestment have left Europe's defense manufacturing capacity underdeveloped. As a result, countries will likely keep buying American equipment to meet rearmament targets, particularly as stockpiles have been depleted by shipments of military aid to Ukraine. Moscow has condemned the EU's militarization trend and arms transfers to Kiev, characterizing the conflict as a NATO proxy war. President Vladimir Putin has dismissed NATO's concerns of Russian aggression as "nonsense," instead blaming the alliance's expansion and "aggressive behavior" for escalating tensions. (
Canada News.Net
12 hours ago
- Business
- Canada News.Net
European NATO states wary of buying US arms Bloomberg
Allies are reportedly put off by Trumps coercive rhetoric and rapprochement with Russia European NATO members have expressed growing unease about increasing their reliance on US weapons amid a sweeping rearmament push, Bloomberg has reported on Friday. During a summit in The Hague this week, NATO states committed to raising military spending to 5% of GDP by 2035 to counter what they described as a "long-term threat posed by Russia to Euro-Atlantic security" - a claim that Moscow has repeatedly denied. Concerns have reportedly emerged about deepening dependence on the American defense industry, particularly under the leadership of President Donald Trump. According to Bloomberg, leaders fear they could be exposed to greater risks, especially in light of Trump's efforts to improve ties with Russia and past threats to annex allied territory. Boosting reliance on US arms has become "an increasingly hard sell at home," the outlet noted. French President Emmanuel Macron has long championed the idea of securing greater defense autonomy for European NATO states, urging the development of a self-sufficient military industrial base. Canada, a key NATO ally, is reportedly reconsidering its involvement in the US-led F-35 fighter jet program and may switch to Swedish alternatives. "We should no longer send three-quarters of our defense capital spending to America," Canadian Prime Minister Mark Carney stated earlier this month. Copenhagen has also displayed some resistance, telling Washington that American arms deals have become "politically difficult" given Trump's suggestion that the US annex Greenland, which is currently controlled by Denmark, Bloomberg reported. READ MORE: NATO summit grim sign for Kiev NYT Unease in the alliance has also been stoked by Trump's move to cut intelligence sharing with Ukraine earlier this year. According to unnamed officials cited by Bloomberg, this decision "alarmed allies," as it raised concerns over how much control the US might wield over weapons exports in the event of a crisis. Nevertheless, a lack of viable domestic alternatives continues to bind European nations to US suppliers, according to the outlet. Decades of underinvestment have left Europe's defense manufacturing capacity underdeveloped. As a result, countries will likely keep buying American equipment to meet rearmament targets, particularly as stockpiles have been depleted by shipments of military aid to Ukraine. Moscow has condemned the EU's militarization trend and arms transfers to Kiev, characterizing the conflict as a NATO proxy war. President Vladimir Putin has dismissed NATO's concerns of Russian aggression as "nonsense," instead blaming the alliance's expansion and "aggressive behavior" for escalating tensions.
