Shanghai launches $14b funds to ramp up IC, AI, biomedicine sectors

Shanghai launches $14b funds to ramp up IC, AI, biomedicine sectors

FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

China’s commercial hub Shanghai on Friday announced 100 billion yuan ($13.79 billion) in funds to boost its integrated circuit, biomedicine and artificial intelligence (AI) industries.