Xiaomi Eyes At Least $6.9 Billion Investment in Chip Design, Says Founder.

Chinese technology giant Xiaomi, known for its smartphones and electric vehicles, plans to invest a minimum of 50 billion yuan (approximately $6.93 billion) in chip design over a period of at least 10 years, commencing from 2021. The ambitious investment strategy was revealed by Xiaomi's founder, Lei Jun, on Monday via a post on the social media platform Weibo.

Lei Jun also highlighted the company's prior investment of 13.5 billion yuan towards the self-development of its advanced mobile chip, named XringO1. He added that Xiaomi's dedicated chip design unit currently comprises a team of over 2,500 professionals.

The significant investment underscores Xiaomi's commitment to strengthening its capabilities in semiconductor technology, a critical area for both its core smartphone business and its burgeoning electric vehicle ventures.