South Korea’s industry ministry and SoftBank Group Corp.’s (OTC:SFTBY) (OTC:SFTBF) chip unit, Arm Holdings Plc (NASDAQ:ARM), signed an agreement to boost the country’s semiconductor and artificial intelligence sectors, a presidential policy adviser announced Friday.
• ARM Holdings stock is gaining positive traction. Why is ARM stock advancing?
Under the memorandum of understanding, Arm will establish a chip design school in South Korea to leverage its expertise, official Kim Yong-beom told reporters.
The program aims to train roughly 1,400 high-level chip design specialists, strengthening the country’s relatively weak system-semiconductor and fabless segments, Reuters reported Friday.
Also Read: Arm Becomes ‘Power-Efficiency Engine’ For AI, Wins Big With Amazon, Google And Meta
Arm licenses its chip designs globally and earns revenue through royalties.
SoftBank CEO Masayoshi Son, who met with South Korean President Lee Jae Myung on Friday, said rising AI demand will sharply increase chip requirements.
He also …Full story available on Benzinga.com
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