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Zoho halts $700M semiconductor plan
Sridhar Vembu, founder of Zoho halts $700 million Semiconductor Plan for the time being citing heavy financial liabilities.
Sridhar Vembu of Zoho announced the suspension of their semiconductor fab plans due to technological uncertainties, highlighting the capital-intensive nature of this industry and the need for government support. When Zoho’s founder Sridhar Vembu tweeted today, that his company had “shelved” its much-discussed semiconductor-fab plan for lack of confidence in the underlying technology, it was a rare moment of stark realism from one of India’s most optimistic entrepreneurs. Zoho was in talks with the Department of Electronics & IT under India’s Semiconductor Mission, and reports reveal that they had set aside some $200 million for a pilot 28 nm wafer line in Tamil Nadu.
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