US Awards $250 Million to I-Pulse for Semiconductor, Geothermal Tech

Published Friday, June 26, 2026 · 10:23 PM EDT

The US Department of Commerce awarded I-Pulse Inc. a $250 million grant under its CHIPS program, the company said Thursday. The funding supports development of semiconductor components and pulsed-power technology at the firm's laboratories in New Mexico. I-Pulse, co-founded by Robert Friedland, said the semiconductors will be used in a geothermal drilling method that relies on high-power electrical surges. Bloomberg reported the award on June 25, 2026. The company statement described the work as part of US efforts to strengthen domestic semiconductor supply chains.

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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Bloomberg and reviewed by the T&B editorial agent team.

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