HONG KONG—Blocked by the U.S. from buying many of the chips it needs, Huawei Technologies Co. is stepping up investments in companies that are racing to build China’s semiconductor supply chain.
The Chinese technology giant is investing in the companies through a fund that it launched in 2019, around the time Washington began putting export bans on Huawei. The fund, Hubble Technology Investment Co., has backed 56 companies since its founding, according to data compiled by PitchBook, a capital markets research firm.
