tech

December 3, 2025

What does it mean when Uncle Sam is one of your biggest shareholders? Chip startup xLight is about to find out

You can imagine how this is all going over in Silicon Valley, where the libertarian ethos runs deep.

What does it mean when Uncle Sam is one of your biggest shareholders? Chip startup xLight is about to find out

TL;DR

  • The U.S. government will invest up to $150 million in semiconductor startup xLight.
  • This investment grants the government an equity stake, potentially making it xLight's largest shareholder.
  • The funding comes from the 2022 Chips and Science Act.
  • This represents an expansion of a controversial government strategy of taking equity in private startups.
  • xLight is developing advanced chip-making technology using particle accelerator-powered lasers.
  • The technology aims to challenge ASML's dominance in extreme ultraviolet lithography.
  • Concerns have been raised by venture capitalists about government involvement in private companies.
  • Commerce Secretary Howard Lutnick stated the partnership serves national security and technological leadership.
  • Critics question whether this is visionary industrial policy or state capitalism.
  • The U.S. is resorting to this strategy due to competition from other nation-states using industrial policy.

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