US to Invest $250 M in Startup to Manufacture Chips

The United States government is planning to invest $250 million in the I-Pulse Inc. startup to develop semiconductor chips and special electricity technology.

I-Pulse Inc. was co-founded byRobert Friedland, a billionaire well-known in the mining (metal extraction) business, and the company has laboratories in New Mexico.

The main agenda behind this investment is to have more chips made in America rather than imported from other countries. The US aims to reduce dependence on chips made from abroad. Basically, the US does not want to depend on foreign countries for something so important.

I-Pulse Inc. is expected to contribute funds to the Department of Commerce's CHIPS program to develop semiconductor components for a geothermal drilling technique. It is a unique method that uses powerful bursts of electricity to drill deep into the Earth.

Robert Friedland said that the challenge for artificial intelligence is clean energy, and geothermal power is the best answer, better than solar or wind, because AI needs a much steadier, more reliable electricity. He further said that I-Pulse Inc is most likely to become a publicly traded company, with its shares available for purchase on the stock market in the coming years. Big investors like mining giants Rio Tinto and Newmont are already involved.

Moreover, the US Senate recently passed bipartisan billto boost the availability of affordable single-family homes in response to rising housing prices. Estimates indicate the country needs between 1.5 million and 7.3 million new homes to address the shortage experienced.

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