The US Department of Commerce has signed letters of intent to provide $874 million in incentives to seven companies developing semiconductor technologies for AI and advanced computing systems. This funding, to be issued under the CHIPS and Science Act, is part of a broader US effort to strengthen domestic semiconductor production and reduce dependence on foreign suppliers.

Companies Receiving Funding

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 including lower-power computing technologies, advanced chip materials, and 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.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.