Japan PM Sanae Takaichi unveils over ¥370tn plan for AI
Japan's Prime Minister Sanae Takaichi just rolled out a huge more than ¥370 trillion ($2.3 trillion) investment plan, set to run until March 2041.
The focus? Supercharging AI, semiconductors, defense, and space tech to strengthen the economy and fix supply chain hiccups, plus tackle labor shortages as the country ages.
Semiconductors expected to spark ¥443tn
About ¥101.6 trillion is earmarked for AI and chip development, with funding split between public and private sources (the government seen contributing a little less than half if inflation stays in line with expectations).
Semiconductors are a big deal here: they're expected to spark ¥443 trillion in economic impact by fiscal 2040.
Since 2021, Japan has already set aside about ¥7.2 trillion in these sectors, including a hefty roughly ¥2.6 trillion for Rapidus Corp. showing they're serious about keeping their tech game strong and globally competitive.