US Invests $150M in Semiconductor Startup xLight

The Trump administration plans to invest up to $150 million in xLight, a semiconductor startup, marking the third time the U.S. government has taken an equity stake in a private company. This funding, from the 2022 Chips and Science Act, will make the government xLights largest shareholder. xLight, based in Palo Alto, aims to challenge ASMLs monopoly on extreme ultraviolet lithography machines with its particle accelerator-powered lasers. The CEO, Nicholas Kelez, and executive chairman, former Intel CEO Pat Gelsinger, are confident this technology could boost wafer processing efficiency and surpass ASML. The investment is seen as crucial for national security and technological leadership, despite criticism over taxpayer-funded equity stakes.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.