Japan Just Bet $16 Billion on a Chip Startup Nobody Thought Could Win
There’s a factory rising in the snow-covered plains of Hokkaido, Japan, and the government just bet another $4 billion that it can change the future of AI. On April 11, 2026, Japan’s Ministry of Economy, Trade and Industry (METI) approved ¥631.5 billion ($4 billion) in fresh subsidies for Rapidus — a semiconductor startup that most of the industry has politely called “ambitious” and privately called “impossible.” The new infusion brings total government backing to a staggering ¥2.6 trillion ($16.3 billion), making Rapidus one of the most heavily state-funded chip ventures in history. ...