XLight, a startup working on light-source technology for chip manufacturing, is reported to be in talks to raise $350 million, coming just weeks after it secured $150 million from the U.S. government.
June 2, 2026 · CHIPS & Science Act
A US laser startup wants to rewrite the limits of chipmaking
xLight — chaired by former Intel CEO Pat Gelsinger — is in talks for a fresh $350M round, weeks after a $150M federal incentive, to build a Free Electron Laser EUV light source that could challenge ASML's grip on advanced lithography.
$350M
Follow-on round now in talks
$150M
Federal incentive (with equity stake)
$40M
Series B closed in July 2025
EUV output: 4× today's source
xLight's FEL target vs current LPP power (internal claim, pending validation).
−50%
EUV light-source cost
−30 to 40%
Wafer processing cost
+50 / +100%
Throughput (existing / new fabs)
13.5→2nm
Tunable wavelength range
How the architecture differs
Free Electron Laserutility-scale, underground
→
Piped lightto ~20 scanners
→
ASML scannersno tin consumables
Roadmap: prototype at Albany NanoTech Complex · wafer printing ~2028 · commercial systems ~2029.
Why backers are optimistic
Keeps Moore's Law alive with higher-power light
US self-reliance in lithography sources
Reduces dependence on ASML's Cymer LPP
Why skeptics are cautious
FEL needs large facilities — no LPP compactness
Zero track record integrating with ASML
Cost, yield & 2028 timeline all unproven
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