PETER THIEL-BACKED STARTUP SECURES $100 MILLION TO MAKE CHIPS IN US

Summary from the TLDR AI newsletter

Substrate, a San Francisco-based startup founded by a protege of investor Peter Thiel, claims it has reinvented a key link in the microchip production process. It plans to use its innovation to build manufacturing facilities in the US. The startup has targeted a three-year timeframe for producing its first chips. Industry analysts say the high costs and enormous technical challenges in lithography give ASML, the sole global manufacturer of advanced lithography machines, a 10-year head start over any would-be competitors.