Mentioned:
Texas wants to get serious about semiconductors. And they’re pouring fresh cash into a publicly traded company to do it.
What’s happening:
- Silicon Labs (NASDAQ: SLAB) has been awarded a $23M USD grant from the Texas Semiconductor Innovation Fund to build out a new research and development facility in Texas focused on breakthrough semiconductor designs
Why it matters:
- The Texas Semiconductor Innovation Fund is a part of the Texas CHIPS Act which is aiming to turn Texas into one of the most important regions in America for artificial intelligence and machine learning hardware production
Going deeper:
- This is one of the first grants the Texas Semiconductor Innovation Fund has ever given out, with their previous grant going towards building a large wafer production facility in Allen, Texas
- The new grant funding from the Texas Semiconductor Innovation Fund will also go towards accelerating the Series 3 technology platform from Silicon Labs, which is aiming to become the most performant Internet of Things platform in the entire world
