Did not have confidence: Vembu on Zoho shelving $700 mn chip plan
Zoho Founder Sridhar Vembu said the company has suspended its $700 million "semiconductor fab investment plan". "We did not have that confidence in the tech, so our board decided to shelve this idea for the time being," he said on X. "We wanted to be absolutely sure of the technology path before we take taxpayer money," he added.