Qualcomm ups ante with fresh funds for Guizhou venture

US chip giant Qualcomm Inc has upped the ante in its joint venture in the Guizhou province, pouring another 1 billion yuan ($144 million), together with the local government, into Guizhou Huaxintong Semiconductor Technology.

The move brought the total investment in Huaxintong, which is based in Guizhou's capital Guiyang, to 2.85 billion yuan. The joint venture was established in 2016 by Qualcomm and the Guizhou provincial government to make server chips.

Wang Kai, CEO of Huaxintong, said in an interview with China Daily in Beijing on Wednesday that the company had received another 1 billion yuan, the second phase of a capital injection, from its two shareholders.