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xLight Inc.

Category: AI Infrastructure

xLight is developing a high-power, energy-efficient Free-Electron Laser (FEL) light source to replace current plasma-based sources in Extreme Ultraviolet (EUV) lithography for next-generation semiconductor manufacturing. xLight Inc. was founded in 2021. The company is led by Nicholas Kelez. Based in Palo Alto, United States. Team size: 11-50. Total funding raised: $201.6M. Latest round: Grant/Equity ($150.0M, 2025-12) - xLight Inc.. Key investors include Playground Global, U.S. Department of Commerce, Morpheus Ventures, Boardman Bay Capital Management, IAG Capital Partners.

Founded
2021
Headquarters
Palo Alto, United States
Team size
11-50
Total funding
$201.6M

Value proposition

Delivers up to 4x higher power and 10x greater energy efficiency than existing EUV sources, enabling faster chip production, ~50% lower cost per wafer, and the extension of Moore’s Law to future nodes.

Products and solutions

FEL-based EUV Light Source, Multi-Scanner Power Distribution System

Unique value

Replaces the physical limitations of tin-plasma EUV generation with particle accelerator-based Free-Electron Lasers (FEL), a method originally developed for high-energy physics.

Target customer

Leading semiconductor foundries (e.g., Intel, TSMC, Samsung) and lithography system integrators (specifically ASML).

Industries served

Semiconductor Manufacturing, AI Hardware Infrastructure, Deep Tech / Advanced Materials

Technology advantage

The FEL architecture allows a single source to drive multiple lithography tools simultaneously with programmable light characteristics, solving the critical power and efficiency bottlenecks of the $100B+ lithography market.

How they differentiate

xLight focuses on a modular upgrade (Free-Electron Laser source) that integrates with existing ASML scanners, offering a less risky adoption path. It promises 4x higher power and programmable wavelengths without requiring a completely new lithography tool, unlike Substrate's full-system replacement approach.

Main competitors

Substrate, ASML (Cymer), Gigaphoton

Key partnerships

U.S. Department of Commerce (CHIPS Act), Cornell University (CLASSE), Los Alamos National Laboratory, NYCreates (Albany Nanotech Complex), Playground Global

Notable customers

NYCreates (Albany Nanotech), Intel (Strategic Interest)

Major milestones

Raised $40M Series B led by Playground Global in July 2025, Secured $150M CHIPS Act funding (Equity/Grant) in Dec 2025, Appointed Pat Gelsinger (ex-Intel CEO) as Executive Chairman in 2025

Growth metrics

Pre-revenue R&D stage; Team size ~50; Secured $150M federal backing to build prototype at Albany Nanotech Complex.

Market positioning

Critical ecosystem enabler and upgrade provider for EUV lithography, positioning itself as a partner to foundries rather than a full-system competitor.

Geographic focus

United States (Silicon Valley, Albany), Global (targeting TSMC, Intel, Samsung)

Patents and IP

Exclusive commercialization rights to Energy Recovery Linac (ERL) technology developed at Cornell University (CBETA) and DOE National Labs.

About Nicholas Kelez

Nicholas Kelez is the CEO and CTO of xLight. He has over two decades of experience in the DOE National Lab system (SLAC, LANL), leading the development of large-scale x-ray science facilities and instrumentation. He previously worked at PsiQuantum.

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