Chinese memory chipmaker was running out of cash after a year of combating Washington’s tighter controls
China’s biggest memory chipmaker has had to raise billions of dollars in fresh capital, after burning through $7bn in funding over the past year trying to adapt to tough US restrictions on its business.
Yangtze Memory Technologies Corp, which last December was added to a trade blacklist and prohibited from procuring US equipment to manufacture chips, exceeded its target for a new round, according to four people familiar with the situation.
据四位知情人士透露，长江存储科技(Yangtze Memory Technologies Corp)的新一轮融资超额完成了目标。该公司去年12月被美国列入贸易黑名单，禁止其采购美国设备用于制造芯片。
They could not confirm the exact figure raised, but said it was equivalent to billions of dollars.