SaaS (software-as-a-service) main Zoho suspended its $700 million plan to broaden into chip manufacturing.
Sridhar Vembu, Chief Scientist at Zoho Corp, took to social media platform X to share the event.
“On our semiconductor fab funding plan, since this enterprise is so capital intensive it requires authorities backing, we needed to be completely positive of the expertise path earlier than we take taxpayer cash,” mentioned Vembu, who had stepped down from his place because the CEO of the corporate in January this 12 months.
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On our semiconductor fab funding plan, since this enterprise is so capital intensive it requires authorities backing, we needed to be completely positive of the expertise path earlier than we take taxpayer cash.
We didn’t have that confidence within the tech so our board determined to shelve…
— Sridhar Vembu (@svembu) Could 1, 2025
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On our semiconductor fab funding plan, since this enterprise is so capital intensive it requires authorities backing, we needed to be completely positive of the expertise path earlier than we take taxpayer cash.
We didn’t have that confidence within the tech so our board determined to shelve…
— Sridhar Vembu (@svembu) Could 1, 2025
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“We didn’t have that confidence within the tech so our board determined to shelve this concept in the intervening time, till we discover a higher tech strategy,” he added.
The event was first reported by Reuters, citing sources.
In Could final 12 months, the corporate had reported that it could foray into chipmaking and was searching for incentives from the federal government.
Zoho’s $400 million semiconductor facility plan within the Mysuru area, which had received approval from the Karnataka authorities final December, and would have created 460 jobs within the state, additionally stands shelved.
