Intel Forms $500 Million Fund for China Investments

Intel Corp., the world's largest computer-chip maker, formed a $500 million China fund to more than triple investments in companies in the world's biggest semiconductor market.

Holdfast Online Technology Co. and Newauto Video Technology Inc. will be among the businesses targeted by Intel Capital's China Technology Fund II, the chipmaker said in a statement in Beijing today. The previous China fund spent $200 million in more than 28 companies, the Santa Clara, California-based company said.

Intel, whose processors power three-quarters of the world's personal computers, boosted spending in the country as it seeks to gain a bigger share of the world's fastest-growing major economy. Chip sales in China will surpass $28 billion in 2011, driven by demand for computing and consumer electronics, according to February estimates at research firm IDC.

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- Posted: 2008-04-08 08:55:13

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