June 23 (Reuters) – The European Commission approved on Tuesday €76 million ($87 million) of German state aid for QuantumDiamonds GmbH, which is planning to set up a cutting-edge semiconductor testing facility in Munich.
• The Commission said QuantumDiamonds had agreed to work with small-and-medium-sized enterprises and with universities and research institutions.
• The approval comes after the Commission proposed new laws this month to boost cloud, AI and semiconductor industries, aiming to cut Europe’s reliance on U.S. Big Tech.
($1 = 0.8765 euros)
(Reporting by Sudip Kar-Gupta.Editing by Mark Potter)
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