News Burst: IBM, Sony, Toshiba to spend $400m on new chip

'Supercomputer-on-a-chip' will communicate with other devices over the Internet

IBM, Sony and Toshiba announced on Monday plans to develop a new kind of microchip specially suited for broadband networks and aimed at consumer computing and electronics devices. The companies said they will contribute more than $400m (about £272m) over the next five years to research and development of the new chips.

More details to follow.

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