Beijing city to subsidise domestic AI chips, targets self-reliance by 2027 [Yahoo! Finance]
NVIDIA Corporation (NVDA)
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Source: Yahoo! Finance
intelligence (AI) chips, as China seeks to develop its semiconductor industry and reduce reliance on foreign technology. The sizes of subsidies were not specified in a document outlining the initiative by the Beijing Municipal Bureau of Economy and Information Technology dated April 24. "Companies that purchase domestically controlled GPU chips for intelligent computing services will receive support based on a certain percentage of their investment," the document showed, referring to chips known as graphics processing units (GPUs). Under the initiative, the city targets 100% self-reliance in smart computing infrastructure hardware and software by 2027. Achieving self-sufficiency in AI chips, which are essential for training AI models, has become an urgent task for China as the U.S. tightens restrictions on exporting advanced computing products to the country citing national security concerns. Restrictions announced by the U.S. Department of Commerce late last year prevented
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