On February 27, Rapidus, the Japanese chip company, declared the successful conclusion of a financing round that amassed 267.6 billion yen (equivalent to roughly $1.7 billion), with contributions coming from both the Japanese government and private sector entities. Notably, an independent administrative agency affiliated with Japan's Ministry of Economy, Trade and Industry contributed a substantial 100 billion yen. This strategic injection of capital is set to bolster Rapidus's research and development endeavors, with the ambitious goal of attaining mass production capabilities for 2-nanometer logic semiconductors by 2027. Furthermore, Rapidus has successfully garnered 167.6 billion yen through private placement financing from a consortium of 32 companies, encompassing prominent investors such as Canon, the Development Bank of Japan, Fujitsu, NTT, SoftBank Group, and Sony Group.