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

Rhea-AI Summary

Silicon Labs (NASDAQ: SLAB) has been awarded a $23 million grant from the Texas Semiconductor Innovation Fund (TSIF), established by the Texas CHIPS Act. The funding will support the development of a new R&D laboratory in Austin, focusing on advancing wireless chip design and the company's Series 3 technology platform.

The investment aims to create and maintain local jobs while reinforcing Austin's position as a technology hub. The grant will specifically accelerate Silicon Labs' innovation roadmap, particularly in developing their Series 3 technology, an advanced wireless platform designed to enhance device connectivity and intelligence.

This funding initiative strengthens Texas' leadership role in semiconductor innovation and chip design, contributing to the state's economic growth and technological advancement in the semiconductor sector.

Positive

• Secured $23 million grant funding for R&D expansion
• Investment supports development of new R&D laboratory in Austin
• Advancement of Series 3 technology platform development

Negative

• None.

Grant from Texas Semiconductor Innovation Fund Will Support Wireless R&D, Securing Texas' Leadership in Next-Gen Technology

AUSTIN, Texas, Feb. 19, 2025 /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.

"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 Labs

Silicon 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.

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SOURCE Silicon Labs

FAQ

How much funding did Silicon Labs (SLAB) receive from the Texas CHIPS Act?

Silicon Labs received a $23 million grant from the Texas Semiconductor Innovation Fund (TSIF), established by the Texas CHIPS Act.

What will Silicon Labs (SLAB) use the Texas CHIPS Act funding for?

The funding will be used to support a new R&D laboratory in Austin and accelerate the development of their Series 3 technology platform.

How will the TSIF grant impact Silicon Labs' (SLAB) operations in Texas?

The grant will help create and sustain local jobs, advance wireless chip design, and strengthen Silicon Labs' R&D capabilities in Austin.

What is Silicon Labs' (SLAB) Series 3 technology mentioned in the grant announcement?

Series 3 is an advanced wireless platform being developed by Silicon Labs that aims to make devices smarter and more connected.