<div id="readability-page-1"><div><div>Chinese smartphone giant Xiaomi Corp. XIACY plans to invest at least 50 billion yuan ($6.93 billion) in chip design over a minimum 10-year period starting from 2021, founder Lei Jun announced Monday on Chinese social media platform Weibo.What Happened: The Apple Inc. AAPL rival has already invested 13.5 billion yuan to develop its advanced mobile chip XringO1, according to Lei, Reuters reported. The company’s chip design division now employs more than 2,500 people, underscoring Xiaomi’s commitment to semiconductor self-sufficiency.This significant investment comes amid escalating U.S. semiconductor sanctions against Chinese tech companies. Taiwan Semiconductor Manufacturing Co. recently disclosed in its 2024 annual report that ensuring complete compliance with U.S. chip technology embargoes has become increasingly challenging.Why It Matters: TSM, which produces chips for Qualcomm Inc. and MediaTek that are used in Xiaomi devices, noted that business partners have increasingly violated semiconductor sanctions to access advanced technology.Xiaomi currently holds third place in global smartphone market share, according to recent Counterpoint Research data, behind Apple and Samsung Electronics Co. Ltd. Price Action: Xiaomi Corp’s stock was trading at 51.50 HKD ($6.58) on the Hong Kong Exchange as of 11:59 a.m. Monday, marking a 0.98% gain for the day. Year to date, the stock has surged 51.47%.<ul> <li>Joe Biden Diagnosed With Advanced Prostate Cancer, Trump Wishes Former President A ‘Fast And Successful Recovery'</li> </ul>Photo courtesy: Alan Sau / Shutterstock.com</div></div></div>

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Xiaomi Corp. plans to invest over $6.9 billion in chip design over the next decade, as announced by founder Lei Jun. This investment aims to enhance semiconductor independence amid increasing U.S. sanctions on Chinese tech firms. Xiaomi has already invested 13.5 billion yuan in developing its mobile chip, XringO1, and employs over 2,500 in its chip division. Currently, Xiaomi ranks third in global smartphone market share, following Apple and Samsung. As of Monday, Xiaomi's stock rose 0.98% to 51.50 HKD, reflecting a year-to-date increase of 51.47%.

- Xiaomi Corp. plans to invest at least 50 billion yuan ($6.93 billion) in chip design over a minimum 10-year period, as announced by founder Lei Jun.  
- The company has already invested 13.5 billion yuan in developing its mobile chip XringO1 and employs over 2,500 people in its chip design division.  
- This investment is significant amid U.S. semiconductor sanctions against Chinese tech firms, as Xiaomi aims for semiconductor self-sufficiency while holding third place in global smartphone market share.

Apple Rival Xiaomi To Invest Over $6.9 Billion In Chip Design Through 2031, Boosts Push For Semiconductor Independence Amid US Sanctions