Future Japanese chipmaker Rapidus has announced that their first fab will be located in Chitose, Hokkaido, located in northern Japan. The planned 2 nm fab will be one of the most advanced fabs in the world once it's ready and construction is said to be starting in September, thanks to approval by the related Japanese government agencies. So far, the Japanese government has approved 330 billion yen for Rapidus, with the most recent investment being 260 billion yen or the equivalent of US$1.94 billion.

However, the total investment into the 2 nm fab is expected to end up somewhere around 5 trillion yen (~US$37.5 billion) in total investments before the fab is ready for mass production. Rapidus is collaborating with IBM and has already sent a group of researchers to its Albany Nanotech facility in upstate New York, which is one of the world's most advanced semiconductor research facilities. At the same time, Japan is working on building a local talent pool of researchers and semiconductor plant workers, by spearheading specialised training for select university students from Japan's top universities. Time will tell if this gamble pays off for Japan, as it's going to be a huge investment before the new fab stands ready in early 2025.