The US is taking a stake in a chip startup led by Intel's ousted CEO [Business Insider]
Intel Corporation (INTC)
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Source: Business Insider
I-HWA CHENG/AFP via Getty Images This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in The US government has signed a nonbinding letter of intent to invest up to $150 million in a chip startup. xLight is chaired by Pat Gelsinger, who ran Intel until his resignation late last year. The deal signals Washington's effort to regain leadership in chipmaking. The US government is poised to become a shareholder in a semiconductor startup chaired by Pat Gelsinger, who ran Intel until his resignation last year. The Commerce Department said on Monday that the Trump administration signed a nonbinding letter of intent to invest up to $150 million in xLight, a startup trying to build a more advanced and cost-effective way to manufacture chips. The investment would come from the CHIPS and Science Act and would be structured as equity, giving the federal government direct ownership in the company. The d
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