China led the funding of semiconductor startups in 2023 by a wide margin over the US and the rest of the world, according to a report by PitchBook, which said Chinese startups received 75% of all venture-capital investment in companies that work on chip design, make chips or produce chip equipment, while US companies only got about 11% of VC chip investment last year.
China had prioritized investment in the chips sector and launched a $40-billion fund in September – its third major state fund to support the sector, it said, and while the Biden Administration passed its CHIPS Act in August 2022 to revitalize the industry in the US, but it quoted an analyst who said that getting funding from the CHIPS Act was more complicated that the funding for clean energy under the Biden’s Inflation Reduction Act.
Read the full report: PitchBook.
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