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U.S. Semiconductor Startup xLight Secures $150M from Commerce Department in June, Plans $550M Total Funding

2026-06-29 11:04:29

According to the U.S. Department of Commerce, xLight, a semiconductor startup founded in 2021 and backed by former Intel CEO Pat Gelsinger as executive chairman, received $150 million in equity investment in June 2026. The company is currently in talks to raise an additional $350 million, bringing total fundraising to approximately $550 million. xLight is developing free-electron laser (FEL) technology to challenge ASML's monopoly in extreme ultraviolet (EUV) lithography light sources, with plans to deliver a prototype compatible with production environments by 2028.

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