Zoho shelves plans for $700 million semiconductor plant over tech uncertainty

Zoho Corporation has shelved its ambitious $700-million plan to build a compound semiconductor fabrication plant, citing technological uncertainties and a reluctance to proceed without full confidence in the chosen path. The decision was announced by the company’s founder and chief scientist Sridhar Vembu on the social media platform X (formerly Twitter).

“On our semiconductor fab investment plan, since this business is so capital-intensive, it requires government backing. We wanted to be absolutely sure of the technology path before we take…