Tsinghua to invest US$47bil to build chip empire

BEIJING: China’s Tsinghua Unigroup Ltd plans to invest 300 billion yuan (US$47bil) over the next five years in a bid to become the world’s third-biggest chipmaker, the chairman of the state-backed technology conglomerate said.

Chairman Zhao Weiguo also told Reuters in an interview in Beijing that the company controlled by Tsinghua University, which counts President Xi Jinping among its alumni, was in talks with a US-based company involved in the chip industry.