silectric

Zoho has halted its $700 million investment in chip manufacturing due to a lack of confidence in available technology. The company, which intended to invest $400 million in a Karnataka-based semiconductor facility, decided to shelve the plan until a more promising technological approach emerges. This decision follows concerns about securing taxpayer money without certainty in the tech.

Adani Group and Zoho Corp are reportedly backing away from their semiconductor projects, dealing a blow to India's ambition to establish a domestic chip manufacturing ecosystem. Zoho cited a lack of confidence in the technology path, while Adani expressed concerns about weak demand and limited financial commitment from its partner.