CHIPS Act: US Invests $250M in I-Pulse for High-Temp Semiconductors

The US Department of Commerce has signed a definitive deal to invest $250 million in I-Pulse, a privately held pulsed-power technology company. The funding is under the CHIPS and Science Act and is earmarked for R&D into high-temperature, high-performance semiconductors. I-Pulse, co-founded in 2007 by Robert Friedland and Laurent Frescaline, is based in Albuquerque, New Mexico. Its core pulsed-power approach traces back to research at Sandia National Laboratories. Historically, I-Pulse applied the technology to mining, geothermal drilling, and mineral exploration. The new capital is intended to help I-Pulse expand into semiconductor manufacturing, using its “precise energy discharge” methods to support next-generation chips designed for higher temperatures and performance. The company previously raised more than $324 million, including investment from Ivanhoe Mines, so the $250 million infusion nearly doubles its total capital base. In March 2026, I-Pulse also announced a geothermal drilling partnership in Australia with Sunrise Energy Metals and Greenvale Mining, signaling continued diversification beyond semiconductors. Market relevance: The move aligns with Washington’s broader goal to reshore semiconductor production. Instead of backing only established fabs, the government is taking a bet on a niche, defense-rooted technology supplier entering advanced semiconductor materials manufacturing—an area where existing silicon carbide players have been investing heavily. For traders, this is not a direct crypto catalyst. Still, it can support sentiment around the tech sector and semiconductor supply-chain narratives tied to long-cycle industrial subsidies.