Chinese Giant Xiaomi Announces $6.9 Billion to Develop In-House Chips Amid US-China Trade Tensions
On May 19, Xiaomi (OTC:XIACF) CEO Lei Jun made a Weibo post announcing the company's intention to invest at least 50 billion yuan, around $6.9 billion, in the development of its own chips over the next ten years. This move is part of the Chinese …