Intel Corp has announced a US$200 million venture capital fund to invest in Chinese companies that develop new hardware, software and services in a move to spur the high-tech industry in the world's largest emerging market.
Intel Capital, the investment arm of the world's largest chipmaker, announced the fund ahead of a conference this week in Beijing, running from yesterday through tomorrow, that brings together executives of its portfolio companies with corporate and government decision-makers.
The Intel Capital CEO Summit is being held outside the US for the first time. That it is being held in China is a sign of the country's emerging importance in the technology industry.
Initially, the fund will be used to invest in firms developing new hardware, software and services related to cellular communications, broadband applications for consumers.
"Companies around the world should look beyond China's purchasing power and view the country's innovators as potential suppliers," said Intel Capital president Arvind Sodhani. "We look forward to working together with the country's leading technology companies to grow China's IT industry together."
Intel has had a presence in China for 20 years, and Intel Capital first invested there in 1998. Since then, it has invested in nearly 50 Chinese companies in China and Hong Kong.
Separately, Intel will likely invest US$400 million to build a chip-making plant in India, a government minister said yesterday in New Delhi.
"I was successful in convincing Intel to come to India and they have agreed," India's Information Technology Minister Dayanidhi Maran told reporters on his return from a tour of the US.
Maran said Intel's decision was conveyed to him by the company's chairman Craig Barrett.
The company has shortlisted the southern Indian cities of Madras and Bangalore and Noida, a satellite town adjoining the Indian capital, to locate the proposed plant, he said.
"They [Intel] will make a final announcement in a month's time," Maran said.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from