US signs letters of intent worth $874 million to boost semiconductor research
(Corrects day of the week to Thursday from Tuesday in first paragraph)
July 30 : The U.S. Department of Commerce said on Thursday it has signed letters of intent to provide $874 million in incentives to seven companies developing semiconductor technologies for AI and advanced computing systems.
The funding, to be issued under the CHIPS and Science Act, is part of a broader U.S. effort to strengthen domestic semiconductor production and reduce dependence on foreign suppliers.
CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less • GlobalFoundries will receive up to $300 million for the development of co-packaged optics, which combine light-based data transfer with AI processors for faster computing. • Kepler was allotted up to $245 million for new AI memory technology, while Multibeam Corporation will get up to $140 million for advanced chip-packaging equipment. • Extropic, Thintronics, OBSIDIA Semiconductors and Aeluma will receive amounts ranging from $30 million to $75 million, for projects ranging from lower-power computing technologies and advanced chip materials to systems that detect counterfeit components. • The Commerce Department added it will take minority equity stakes in each company as part of the funding agreements, pending further review before final awards.
- GlobalFoundries will receive up to $300 million for the development of co-packaged optics, which combine light-based data transfer with AI processors for faster computing.
- Kepler was allotted up to $245 million for new AI memory technology, while Multibeam Corporation will get up to $140 million for advanced chip-packaging equipment.
- Extropic, Thintronics, OBSIDIA Semiconductors and Aeluma will receive amounts ranging from $30 million to $75 million, for projects ranging from lower-power computing technologies and advanced chip materials to systems that detect counterfeit components.
- The Commerce Department added it will take minority equity stakes in each company as part of the funding agreements, pending further review before final awards.
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Get our pick of top stories and thought-provoking articles in your inbox
Stay updated with notifications for breaking news and our best stories
Join our channel for the top reads for the day on your preferred chat app
