Fab2 reports $500 million Series A for modular chip-fab buildout

Fab2 said it closed a $500 million Series A at a $3.7 billion valuation to expand its effort to build semiconductor-fab equipment in house and assemble smaller fabs from it. The company operates a roughly 120,000-square-foot fab in Austin and a roughly 30,000-square-foot equipment facility in Lockhart, Texas. Fab2, founded as Atomic Semi in 2022, says its approach includes equipment ranging from pumps and gas lines to lithography tools and vacuum chambers.