The Chinese state-backed chip investment fund, often referred to as the "Big Fund," has made a substantial investment of 14.56 billion yuan (approximately $1.99 billion) in a memory chip company called Changxin Xinqiao. This investment accounts for 33.15% of Changxin Xinqiao's total registered capital, as per the company's registration information updated on October 26.

Changxin Xinqiao is associated with Zhao Lun, who serves as its general manager. Notably, Zhao Lun also holds the positions of chairman and general manager at Changxin Memory Technology, a prominent player in China's memory chip industry.

The Big Fund's previous investment of 13 billion yuan into Yangtze Memory Technologies (YMTC) earlier this year underscores its commitment to supporting and investing in China's semiconductor and memory chip industry.

As of now, there has been no response from either Changxin Xinqiao or the Big Fund regarding this recent investment, as reported by Reuters. This investment reflects China's ongoing efforts to bolster its domestic semiconductor industry and reduce reliance on foreign technology.