Kingsoft, Xiaomi set up $1.4b joint fund for chip investments

Kingsoft, Xiaomi set up $1.4b joint fund for chip investments

FILE PHOTO: Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration

Hong Kong-listed Kingsoft Corporation will form a joint fund with smartphone maker Xiaomi to back companies in the area of integrated circuits, according to the former’s filing to the Hong Kong bourse on Thursday.

Edited by: Pramod Mathew