Qualcomm teams up with Chinese province for server chips

In a recent ceremony at the China National Convention Center in Beijing, Qualcomm and officials from the People's Government of Guizhou Province signed a strategic cooperation agreement and unveiled a joint venture - the Guizhou Huaxintong Semi-Conductor Technology. The JV, with initial registered capital of CNY1.85 billion (US$280 million), will be 55% owned by the Guizhou provincial government's investment arm and 45% owned by a subsidiary of Qualcomm. The JV will focus on the design, development and sale of advanced server chipset technology in China.

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via Yuichun