Minnesota chip maker gets up to $170 million from U.S. Defense Department [Reuters (UK)]
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Source: Reuters
Minnesota chip maker gets up to $170 million from U.S. Defense Department - Reuters 2 Min Read (Reuters) - Semiconductor maker SkyWater Technology said on Monday it will receive up to $170 million from the U.S. Department of Defense to make chips that can work in outer space, and create smaller, faster ones with new materials. The Bloomington, Minnesota-based company was spun off from Cypress Semiconductor Corp ( CY.O ) in 2017 to a group of U.S.-based investors. That year, SkyWater became part of a Defense Department program to ensure U.S. military access to the domestic chip supply chain. SkyWater executives said the Defense Department investment will allow it to develop a new chip making process. To support the new process, SkyWater will pay to add about 60,000 square feet of production space for both defense and commercial customers and add 30-50 mostly high-end engineers to its staff of 500. The $80 million first phase of the project will help SkyWater make chips that work when
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