US Grants $250M to Billionaire's Startup for Chip Development

WHO:

Techmeme - The startup I-Pulse Inc. was co-founded by billionaire mining magnate Robert Friedland.

WHAT:

Techmeme - The US awarded $250 million in CHIPS funds to I-Pulse Inc. for the development of silicon-carbide chips and pulsed-power technology.

Bloomberg Markets - I-Pulse Inc. will receive $250 million in US funding for semiconductor and pulsed-power development.

WHY:

Bloomberg Markets - The funding is part of American efforts to reduce reliance on foreign-chip supply chains.

(UPDATED June 25, 2026 21:30 UTC)

I-Pulse Inc., co-founded by billionaire mining magnate Robert Friedland, has been awarded $250 million in funding from the US for the development of silicon-carbide chips and pulsed-power technology. This significant investment is part of a broader initiative aimed at reducing reliance on foreign-chip supply chains. The funding underscores the government's commitment to bolstering domestic semiconductor production and innovation.