US Edition

xLight, chaired by former Intel CEO Pat Gelsinger, is negotiating a $350 million raise led by Boardman Bay Capital Management and Bain Capital, weeks after the U.S. Commerce Department finalized a $150 million CHIPS Act equity stake in the startup. The company is building a particle-accelerator-based light source as a domestic alternative to ASML's EUV lithography machines, with a first prototype planned for Albany, NY by 2028.