US Commerce Department to Award $389 Million in R&D Funding for Power Semiconductors and Critical Materials
The US Commerce Department has announced plans to award $389 million in research and development funding to four companies specializing in power semiconductor devices and critical materials. This initiative is part of a larger $10 billion congressional fund approved in 2022, aimed at accelerating domestic semiconductor innovation and strengthening energy resources. The funding targets specific technological advancements, including high-voltage semiconductors for fusion power generation, radiation-hardened electronics, gallium nitride components for AI data centers, and ultra-high-purity quartz purification. As a condition of these awards, the US government will receive minority, non-controlling, and non-voting equity stakes in the recipient companies.