Particle.news
Download on the App Store
4 ARTICLES
·
5d ago

Substrate Touts X-Ray Lithography Breakthrough After $100 Million Raise to Challenge ASML and TSMC

Independent verification remains pending despite U.S. interest that has not included funding.

A silicon wafer with chips etched into is seen at a site where Applied Materials plans to build a research facility, in Sunnyvale, California, U.S., May 22, 2023. Jim Wilson/Pool via REUTERS/File Photo
Joesp Lago (Getty Images)
Image

Overview

  • The startup says its X-ray lithography tool can achieve feature sizes comparable to ASML’s most advanced EUV systems for leading-edge chips.
  • Substrate reports demonstrations at U.S. National Laboratories and in San Francisco and released high-resolution images, which Reuters could not independently verify.
  • The company raised $100 million at a valuation above $1 billion from investors including In-Q-Tel, General Catalyst, Valor Equity Partners, Allen & Co and Long Journey Ventures, with some reports also listing Founders Fund and MITIMco.
  • CEO James Proud describes a plan to build a U.S. foundry for advanced AI chips and to reduce tool costs, with the Financial Times cited as reporting a target to lower cutting-edge wafer costs to roughly $10,000 by 2028.
  • Analysts and industry veterans warn that rivaling ASML and TSMC and maintaining vertical integration would demand vast capital and complex process integration, and the company says it has received no direct government funding.