Trump Administration to Take Equity Stake in Former Intel CEO's Chip Startup
Source: Wall Street Journal
XLight to get up to $150 million to develop ultraprecise lasers for squeezing more circuits onto semiconductors
The Trump administration has agreed to inject up to $150 million into a startup trying to develop more advanced semiconductor manufacturing techniques in the U.S., its latest bid to support strategically important domestic industries with government incentives.
Under the arrangement, the Commerce Department would give the incentives to xLight, a startup trying to improve the critical chip-making process known as extreme ultraviolet lithography, the agency said in a Monday release. In return, the government would get an equity stake that would likely make it xLight’s largest shareholder.
The Dutch firm ASML is currently the only global producer of EUV machines, which can cost hundreds of millions of dollars each. XLight is seeking to improve on just one component of the EUV process: the crucially important lasers that etch complex microscopic patterns onto chemical-treated silicon wafers. The startup is hoping to integrate its light sources into ASML’s machines.
XLight represents a second act for Pat Gelsinger, the former chief executive of Intel who was fired by the board late last year after the chip maker suffered from weak financial performance and a stalled manufacturing expansion. Gelsinger serves as executive chairman of xLight’s board.
Read more: https://www.wsj.com/tech/trump-administration-to-take-equity-stake-in-former-intel-ceos-chip-startup-9dcd9367?st=LHk462&reflink=desktopwebshare_permalink
When did Republicans start supporting government ownership of commercial companies? I kinda missed that.
Wouldn't be surprised if there was a Trump kickback in there somewhere.
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