Vertical Semiconductor gets $73m in CHIPS Act funding for vGaN transistors

Vertical Semiconductor signed a Letter of Intent with the US Department of Commerce for up to $73 million in CHIPS and Science Act funding. The money will support US development and production of vertical gallium nitride power transistors, with Commerce taking a minority non-voting equity stake.

• Funding of up to $73m under the CHIPS and Science Act
• Commerce Department to receive a minority, non-voting equity stake
• Targets a 2.5MW AI rack with 30% lower energy losses
• Vertical Semiconductor is a 2024 MIT spin-out