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Just a year after being removed from his position as Intel's CEO by the board due to a 'lack of confidence in the turnaround strategy,' Pat Gelsinger has made a re-entry into the semiconductor industry. He now serves as a general partner at venture capital firm Playground Global. His primary investment is in the startup xLight, which is dedicated to extreme ultraviolet lithography (EUV) technology, especially the research and development of free-electron laser (FEL) light source systems. Lately, xLight has inked a preliminary letter of intent with the U.S. Department of Commerce. Under the CHIPS and Science Act, it stands to receive federal incentive funds of up to $150 million, with the U.S. government poised to become a significant shareholder.
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