Palo Alto-based xLight has raised $40 million in an oversubscribed Series B funding round to accelerate development of its extreme-ultraviolet (EUV) Free Electron Laser (FEL) technology for advanced semiconductor manufacturing. The round was led by Playground Global, with participation from Boardman Bay Capital Management, Morpheus Ventures, Marvel Capital, and IAG Capital Partners. The funding will support full-scale prototype development of xLight’s next-generation light source, which aims to surpass current EUV systems in power, efficiency, and scalability.
In parallel, xLight is deepening technical collaborations with major national research labs, including Los Alamos National Laboratory (LANL), Fermilab, and the Cornell Laboratory for Accelerator-based Sciences and Education (CLASSE). The LANL project, enabled by New Mexico’s TRGR initiative, applies machine learning to automate high-power accelerator operations—key for 24/7 functionality required in semiconductor fabrication. xLight is also leveraging Fermilab’s capabilities in superconducting RF cavity and cryomodule technologies, and working with Cornell to commercialize innovations from its CBETA accelerator platform.
Pat Gelsinger, former Intel CEO and current Playground Global General Partner, has joined xLight as Executive Chairman. Gelsinger cited the transformative potential of FEL-based EUV lithography in sustaining Moore’s Law and reshoring U.S. semiconductor production. xLight’s strategy aligns closely with national priorities to secure supply chains and maintain leadership in foundational technologies underpinning AI, defense, and advanced computing.
- xLight raised $40 million in Series B, led by Playground Global
- Focus: Extreme ultraviolet (EUV) Free Electron Lasers for lithography
- Partners include Los Alamos, Fermilab, and Cornell’s CLASSE
- Machine learning enables automated accelerator operations
- TRGR initiative supports collaboration with national labs
- Pat Gelsinger joins board as Executive Chairman
- Founded in 2021, based in Palo Alto, with offices in New Mexico
“xLight is on a mission to build a transformational new light source for semiconductor manufacturing that addresses the key challenges facing the industry today—cost, capabilities, and capacity,” said Nicholas Kelez, CEO and CTO of xLight.
🌐 Why it Matters: xLight’s pursuit of FEL-based EUV lithography could unlock a crucial alternative to existing EUV sources dominated by a single vendor, ASML. As chipmakers push toward 2nm and below, power-hungry AI workloads are intensifying the need for more efficient and scalable lithography solutions. National labs’ involvement and public-private funding mechanisms like TRGR also signal growing momentum behind U.S. industrial policy for semiconductor sovereignty.
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