Jun 26, 2026 · 1:30 AM
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A mining billionaire just won $250 million from the CHIPS program to build semiconductors no one else is making
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A mining billionaire just won $250 million from the CHIPS program to build semiconductors no one else is making
The Department of Commerce awarded $250 million in CHIPS R&D funding to I-Pulse Inc., Robert Friedland's pulsed-power startup, to develop silicon-carbide semiconductors for drilling, defense, and manufacturing. The deal, signed June 25, marks one of the more unconventional bets in the CHIPS program's history: a mining billionaire building chips no legacy fab is chasing.
Julian Lim
5 min read
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