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Japan's Rapidus raises sales target on upbeat outlook for AI devices

TOKYO -- Japanese government-backed chipmaker Rapidus is aiming for higher sales for its cutting-edge semiconductors than previously anticipated as it expects strong demand for AI in PCs and smartphones.

Chairman Tetsuro Higashi told Nikkei Asia that the company recently upgraded its revenue target due to "rapid growth of the AI market." It is now aiming to generate more than 1 trillion yen ($6.4 billion) by 2030, compared to its initial target of around 1 trillion yen before 2040.