The U.S. Department of Commerce plans to invest $150 million in a chip company linked to the former Intel CEO
Jinse Finance reported that the U.S. Department of Commerce has agreed to invest up to $150 million in xLight, a chip technology startup associated with former Intel CEO Pat Gelsinger. The Department of Commerce's Chips Research and Development Office (part of the National Institute of Standards and Technology) has signed a non-binding letter of intent to provide this funding, according to a statement released on Monday. This move is part of the Trump administration's efforts to bring more chip manufacturing capacity back to the United States. xLight, where Gelsinger serves as Executive Chairman, is developing a technology that will compete with a component of the extreme ultraviolet lithography (EUV) systems provided by Dutch company ASML. Currently, many of ASML's lasers are sourced from German company Trumpf. This deal expands the U.S. government's influence in the chip industry. (Golden Ten Data)
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