Latest news with #PaloAlto
Globe and Mail
6 hours ago
- Business
- Globe and Mail
BridgeBio to Host Second Quarter 2025 Financial Results Conference Call on Tuesday, August 5, 2025 at 4:30 pm ET
PALO ALTO, Calif., July 22, 2025 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) ('BridgeBio' or the 'Company'), a new type of biopharmaceutical company focused on genetic diseases, today announced that it will release its second quarter financial results and business updates after the market closes on Tuesday, August 5, 2025. BridgeBio will host a conference call to discuss the financial results and program updates at 4:30 pm ET the same day. To access the live webcast of BridgeBio's presentation, please visit the 'Events & Presentations' page within the Investors section of the BridgeBio website at A replay of the webcast will be available on the BridgeBio website for 30 days following the event. Participants may access the webcast by registering online using the following link, About BridgeBio Pharma, Inc. BridgeBio Pharma, Inc. (BridgeBio) is a new type of biopharmaceutical company founded to discover, create, test, and deliver transformative medicines to treat patients who suffer from genetic diseases. BridgeBio's pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit and follow us on LinkedIn, Twitter, Facebook, and YouTube.
Yahoo
7 hours ago
- Business
- Yahoo
US startup xLight raises $40 million in race against China for key chipmaking laser
By Stephen Nellis PALO ALTO, California (Reuters) -Silicon Valley startup xLight has raised $40 million, aiming to build the first prototype of a new class of laser that could shake up the global chip industry and reclaim U.S. leadership in a field that China is aggressively investing in. XLight's laser - based on the same technologies as massive particle accelerators used by U.S. national labs in cutting-edge physics research - will sit at the heart of what are known as extreme ultraviolet (EUV) lithography machines. EUV machines are the tools primarily responsible for the creation of smaller, faster chips. In a world where advances in fields such as AI are determined by how many chips Nvidia and other chip companies can supply, xLight is aiming to help chip factories, called "fabs" in the industry, turn out more of the dinner-plate-sized silicon "wafers" that contain advanced chips more quickly and cheaply. "This is the most expensive tool in the fab. It's what drives the cost of the wafer more than any other tool in the fab, and it's what drives capacity more than any other tool in the fab," Nicholas Kelez, CEO of xLight, said at the company's Palo Alto headquarters. XLight declined to disclose its valuation or precisely when the prototype will be launched. 'TERRIBLE MISTAKE' The EUV machines themselves took the chip industry decades to develop, and Europe's ASML, which xLight is partnering with on its prototype, is currently the world's only supplier. The U.S. government has worked across multiple presidential administrations to stop EUV machines from being sent to China, with one official calling it the "single most important export control" held by the U.S. and Europe. China has responded by pouring resources into the field, with a close manufacturing partner of national champion Huawei Technologies claiming breakthroughs in developing its own EUV laser and more than a dozen research papers appearing at international conferences chasing the same technological path as xLight. A U.S.-based firm named Cymer perfected the first EUV laser technology and was scooped up by ASML more than a decade ago for $2.5 billion, helping create ASML's dominant position in the market. "There was a terrible mistake made giving Cymer the ability to become a European-owned and controlled company," said Pat Gelsinger, former CEO of Intel who now serves as executive chairman of xLight's board and is a general partner at Playground Global, one of xLight's investors. Many of xLight's prototype components will come from U.S. national labs as xLight works to build a supply chain in the U.S. and allied countries. "We can build that here, or it can be built elsewhere. China is investing heavily in this space. There's an extraordinary backstory here that says, 'Let's get this one right,'" Gelsinger said. The financing round was led by Playground Global and joined by Boardman Bay Capital Management. Morpheus Ventures, Marvel Capital, and IAG Capital Partners also joined the round.
Yahoo
9 hours ago
- Business
- Yahoo
US startup xLight raises $40 million in race against China for key chipmaking laser
By Stephen Nellis PALO ALTO, California (Reuters) -Silicon Valley startup xLight has raised $40 million, aiming to build the first prototype of a new class of laser that could shake up the global chip industry and reclaim U.S. leadership in a field that China is aggressively investing in. XLight's laser - based on the same technologies as massive particle accelerators used by U.S. national labs in cutting-edge physics research - will sit at the heart of what are known as extreme ultraviolet (EUV) lithography machines. EUV machines are the tools primarily responsible for the creation of smaller, faster chips. In a world where advances in fields such as AI are determined by how many chips Nvidia and other chip companies can supply, xLight is aiming to help chip factories, called "fabs" in the industry, turn out more of the dinner-plate-sized silicon "wafers" that contain advanced chips more quickly and cheaply. "This is the most expensive tool in the fab. It's what drives the cost of the wafer more than any other tool in the fab, and it's what drives capacity more than any other tool in the fab," Nicholas Kelez, CEO of xLight, said at the company's Palo Alto headquarters. XLight declined to disclose its valuation or precisely when the prototype will be launched. 'TERRIBLE MISTAKE' The EUV machines themselves took the chip industry decades to develop, and Europe's ASML, which xLight is partnering with on its prototype, is currently the world's only supplier. The U.S. government has worked across multiple presidential administrations to stop EUV machines from being sent to China, with one official calling it the "single most important export control" held by the U.S. and Europe. China has responded by pouring resources into the field, with a close manufacturing partner of national champion Huawei Technologies claiming breakthroughs in developing its own EUV laser and more than a dozen research papers appearing at international conferences chasing the same technological path as xLight. A U.S.-based firm named Cymer perfected the first EUV laser technology and was scooped up by ASML more than a decade ago for $2.5 billion, helping create ASML's dominant position in the market. "There was a terrible mistake made giving Cymer the ability to become a European-owned and controlled company," said Pat Gelsinger, former CEO of Intel who now serves as executive chairman of xLight's board and is a general partner at Playground Global, one of xLight's investors. Many of xLight's prototype components will come from U.S. national labs as xLight works to build a supply chain in the U.S. and allied countries. "We can build that here, or it can be built elsewhere. China is investing heavily in this space. There's an extraordinary backstory here that says, 'Let's get this one right,'" Gelsinger said. The financing round was led by Playground Global and joined by Boardman Bay Capital Management. Morpheus Ventures, Marvel Capital, and IAG Capital Partners also joined the round.
Yahoo
9 hours ago
- Business
- Yahoo
xLight Raises $40 Million Series B to Revolutionize Semiconductor Manufacturing
Funding enables prototype development of next generation light source for advanced semiconductor manufacturing PALO ALTO, Calif., July 22, 2025--(BUSINESS WIRE)--xLight, the American company building the world's most powerful lasers, today announced it has closed an oversubscribed $40M Series B equity raise. The round was led by Playground Global, an early-stage venture capital firm investing in entrepreneurs who have developed breakthroughs in frontier technologies, and joined by Boardman Bay Capital Management, a leading investment manager specializing in high-growth opportunities across transformative technology subsectors. Morpheus Ventures and others also joined the round. This funding further enables xLight to develop the world's most powerful extreme-ultraviolet (EUV) free electron lasers (FEL), which will revolutionize advanced semiconductor manufacturing and unlock other critical economic and national security applications. "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. This round will equip the company with the capital needed to complete detailed design and kickstart construction of our full-scale prototype," said Nicholas Kelez, CEO and CTO of xLight. "Advanced semiconductor manufacturing is approaching a key inflection point – together with our partners across the National Lab and semiconductor ecosystem, and with the support of our investors, we will commercialize free electron lasers and help reclaim American leadership in semiconductor manufacturing." "xLight represents a once-in-a-generation opportunity to restore American leadership in one of the most critical technologies underpinning the semiconductor industry," said Pat Gelsinger, Executive Chairman of the Board, xLight and General Partner, Playground Global. "By delivering an energy‑efficient EUV laser with tenfold improvements over existing technologies, xLight has the potential to drive the next era of Moore's Law – keeping chip scaling alive, accelerating fab productivity, and anchoring this foundational capability in the U.S. supply chain." "xLight's breakthrough technology delivers a real edge for next-generation semiconductor manufacturing," said Peter Barrett, General Partner and co-founder at Playground Global. "With AI driving unprecedented demand for more powerful and complex chips, the industry needs a step change in productivity. By applying proven accelerator physics in a novel way, xLight's EUV FEL platform has the potential to enable not just more efficient production, but entirely new kinds of devices. It's a bold leap forward, and one that will help reignite Moore's Law." "We believe the semiconductor manufacturing industry is on the precipice of the next major dislocation and xLight is perfectly positioned to capitalize on that shift," said Will Graves, Chief Investment Officer, Boardman Bay Capital Management. "The company's platform has the potential to reshape how fabs think about light, manufacturing capabilities, and scalability. We're proud to partner with a team pushing the boundaries of what's possible in advanced laser light sources." "xLight represents exactly the kind of transformative technology we seek at Morpheus Ventures—a company that's not just disrupting its market, but fundamentally redefining what's possible," said Howard Ko, Partner, Morpheus Ventures. "The company's deeply experienced team, coupled with the incredible technology they've developed under Nicholas' leadership, uniquely position the company for hypergrowth in the years to come, and we're thrilled to be one of their partners." The company continues to execute against its business goals, as evidenced by the ongoing partnerships with the Cornell Laboratory for Accelerator-based ScienceS and Education (CLASSE), the Los Alamos National Laboratory (LANL), and Fermi National Accelerator Laboratory, three globally recognized, leading research facilities. In the last two years, the company has completed key systems designs, including subsystem prototyping and first articles, and established a working relationship with technical leaders at ASML. xLight's work with CLASSE focuses primarily on research and development, with the ultimate goal of commercializing technologies developed by Cornell's BNL ERL Test Accelerator (CBETA). The joint venture with LANL, funded by New Mexico's TRGR Technology Readiness Initiative, is focused on the application of modern machine learning techniques to enable the automation of a large-scale accelerator. Large-scale accelerators like those under cooperative development at LANL are an integral component of xLight's technical roadmap. The company's collaboration with Fermilab is focused on superconducting radio frequency cavity and cryomodule development and testing – two particle accelerator technologies that the lab mastered over decades. About xLight xLight was founded in 2021 and is headquartered in Palo Alto, CA. The company's mission is to commercialize particle accelerator driven free electron lasers (FEL) for critical US economic and national security applications. xLight is led by a group of deeply experienced technologists and semiconductor industry veterans with a long track record of building complex technical systems. Our team has decades of experience designing, building, and deploying free electron lasers across a wide range of applications, from research and development to national security missions. Learn more at About Playground Global Playground Global is a deep tech venture capital firm with $1.2 billion under management, backing early-stage startups solving foundational challenges in next-generation compute, automation, energy transition, and engineered biology. Founded in 2015 and based in Palo Alto, Playground partners closely with technical and scientific founders to turn breakthrough ideas into lasting companies. The firm's portfolio includes PsiQuantum, MosaicML (acquired by Databricks), d-Matrix, Agility Robotics, Ideon, Ultima Genomics, Strand Therapeutics, and xLight. Learn more at About Boardman Bay Capital Management Boardman Bay is a venture capital and technology investment firm focused on backing the next generation of hard tech and semiconductor innovators. With a track record of supporting companies at the forefront of AI infrastructure, optical and photonic systems, chip design, and data movement, Boardman Bay has been an early investor in transformative platforms including Ayar Labs, Groq, xLight, and Credo (NASDAQ: CRDO). The firm operates a family of specialized venture funds that provide strategic, concentrated exposure to the core technologies reshaping global compute and connectivity. Founded in 2012, Boardman Bay combines deep domain expertise with a disciplined investment approach—across public and private portfolios—to help build enduring, category-defining businesses. Learn more at About Morpheus Ventures Founded in 2016, Morpheus Ventures is one of the largest early-stage investors in Los Angeles, and is investing in the disruption of large markets across the technology landscape from consumer to enterprise technologies including data-powered platforms, high performance compute platforms, AI, machine learning and enterprise SaaS. The firm is headquartered in Los Angeles and backs great entrepreneurs worldwide. Learn more at View source version on Contacts media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 hours ago
- Business
- Yahoo
US startup xLight raises $40 million in race against China for key chipmaking laser
By Stephen Nellis PALO ALTO, California (Reuters) -Silicon Valley startup xLight has raised $40 million, aiming to build the first prototype of a new class of laser that could shake up the global chip industry and reclaim U.S. leadership in a field that China is aggressively investing in. XLight's laser - based on the same technologies as massive particle accelerators used by U.S. national labs in cutting-edge physics research - will sit at the heart of what are known as extreme ultraviolet (EUV) lithography machines. EUV machines are the tools primarily responsible for the creation of smaller, faster chips. In a world where advances in fields such as AI are determined by how many chips Nvidia and other chip companies can supply, xLight is aiming to help chip factories, called "fabs" in the industry, turn out more of the dinner-plate-sized silicon "wafers" that contain advanced chips more quickly and cheaply. "This is the most expensive tool in the fab. It's what drives the cost of the wafer more than any other tool in the fab, and it's what drives capacity more than any other tool in the fab," Nicholas Kelez, CEO of xLight, said at the company's Palo Alto headquarters. XLight declined to disclose its valuation or precisely when the prototype will be launched. 'TERRIBLE MISTAKE' The EUV machines themselves took the chip industry decades to develop, and Europe's ASML, which xLight is partnering with on its prototype, is currently the world's only supplier. The U.S. government has worked across multiple presidential administrations to stop EUV machines from being sent to China, with one official calling it the "single most important export control" held by the U.S. and Europe. China has responded by pouring resources into the field, with a close manufacturing partner of national champion Huawei Technologies claiming breakthroughs in developing its own EUV laser and more than a dozen research papers appearing at international conferences chasing the same technological path as xLight. A U.S.-based firm named Cymer perfected the first EUV laser technology and was scooped up by ASML more than a decade ago for $2.5 billion, helping create ASML's dominant position in the market. "There was a terrible mistake made giving Cymer the ability to become a European-owned and controlled company," said Pat Gelsinger, former CEO of Intel who now serves as executive chairman of xLight's board and is a general partner at Playground Global, one of xLight's investors. Many of xLight's prototype components will come from U.S. national labs as xLight works to build a supply chain in the U.S. and allied countries. "We can build that here, or it can be built elsewhere. China is investing heavily in this space. There's an extraordinary backstory here that says, 'Let's get this one right,'" Gelsinger said. The financing round was led by Playground Global and joined by Boardman Bay Capital Management. Morpheus Ventures, Marvel Capital, and IAG Capital Partners also joined the round. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
