US signs letters of intent worth $874 million to boost semiconductor research
GFS•Commerce Department signs funding letters for seven companies
July 30 (Reuters) - The U.S. Department of Commerce said on Tuesday 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.
Here are some details:
- GlobalFoundries GFS.O 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.
