StockNews.AI
SLAB
StockNews.AI
181 days

Texas CHIPS Act Awards Silicon Labs $23 Million to Expand R&D Advancements in Austin

1. Texas awarded Silicon Labs $23 million for semiconductor innovation. 2. Funding supports new R&D lab in Austin, boosting local jobs. 3. Investment accelerates Series 3 wireless technology development. 4. Texas CHIPS Act enhances Texas' leadership in semiconductor industry. 5. Silicon Labs aims to foster economic growth and innovation.

5m saved
Insight
Article

FAQ

Why Bullish?

The grant strengthens SLAB's R&D capabilities, potentially boosting future revenue and competitiveness, similar to how other tech firms have benefited from state funding in innovation-driven initiatives.

How important is it?

The funding signifies confidence in SLAB's growth, indicating future potential for price appreciation.

Why Long Term?

The establishment of the R&D lab will lead to sustained innovation and job creation, enhancing SLAB's market position in upcoming years.

Related Companies

TXNAVGOQCOM
Grant from Texas Semiconductor Innovation Fund Will Support Wireless R&D, Securing Texas' Leadership in Next-Gen Technology , /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced the award of a $23 million grant from the Texas Semiconductor Innovation Fund (TSIF) established by the Texas CHIPS Act. The TSIF investment will support a new research and development (R&D) laboratory in Austin, helping to create and sustain local jobs and reinforce Silicon Labs' dedication to preserving Central Texas' status as a premier technology hub. The State of Texas has awarded $23 million to Silicon Labs to continue driving semiconductor innovation. "As a Texas-born company and global IoT wireless leader, Silicon Labs is committed to driving innovation, fostering economic growth, and developing a talented workforce in the state," said Silicon Labs President and CEO Matt Johnson. "The Texas CHIPS Act funding will empower us to accelerate wireless chip design, create transformative technologies, and strengthen Texas' leadership in the semiconductor industry." This investment will allow the company to accelerate its innovation roadmap, particularly around the build-out and design of Silicon Labs' Series 3 technology, an advanced wireless platform that makes devices smarter and more connected than ever before. Additionally, it solidifies Texas as a leader in chip design, strengthening its position at the forefront of advancements in the semiconductor sector. "It is an honor to receive this grant from the Texas government and to be able to further amplify innovation and progress in our home state," continued Johnson. "Silicon Labs is proud to stand alongside the State of Texas and other business leaders in creating opportunities and jobs for the Texas community."Learn more about Silicon Labs' Series 3 platform here.About Silicon LabsSilicon Labs is a trailblazer in wireless connectivity for the Internet of Things. Its integrated hardware and software platform, intuitive development tools, and unmatched ecosystem support make Silicon Labs the ideal long-term partner in building advanced industrial, commercial, and home and life applications. Silicon Labs leads the industry in high performance, low power, and security with support for the broadest set of multi-protocol solutions.SOURCE Silicon Labs WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News