xlight aims to break asml's euv dominance with $40 million investment
San Francisco, Thursday, 31 July 2025.
xlight, a us startup, secured $40 million in series b funding. the company will advance its extreme ultraviolet (euv) light source development. xlight’s euv light source uses a free-electron laser (fel) technology. this could reduce the semiconductor industry’s reliance on asml’s euv technology. xlight claims its fel can deliver four times the euv output of current systems. it could also support multiple wafer lithography tools from a single source. pat gelsinger, xlight’s executive chairman, aims to restore american leadership in semiconductor technology.
Funding and investor confidence
The $40 million series b funding round was oversubscribed, indicating strong investor confidence in xlight’s potential [3]. Playground Global led the round, with participation from Boardman Bay Capital Management and Morpheus Ventures, among others [3]. This financial backing will enable xlight to finalize the design and begin constructing a full-scale prototype of its euv fel system [3]. Xlight aims to have an operational prototype ready by 2028 [1]. The company’s focus on us economic and national security applications is a key factor attracting investment [3].
potential market disruption
Will Graves, chief investment officer at Boardman Bay Capital Management, believes the semiconductor manufacturing industry is on the verge of a significant shift, positioning xlight to capitalize on this change [3]. Howard Ko, partner at Morpheus Ventures, views xlight as a transformative technology that could redefine the market [3]. Xlight’s fel technology promises roughly four times the euv output of conventional laser-produced plasma (lpp) systems [1]. This could enable a single source unit to support multiple wafer lithography tools, unlike asml’s systems which require a dedicated source per tool [1].
strategic partnerships and future outlook
Xlight is collaborating with several national laboratories, including cornell laboratory for accelerator-based sciences and education (classe), los alamos national laboratory (lanl), and fermi national accelerator laboratory [3]. These partnerships provide access to critical expertise and resources for developing and scaling its euv fel technology [3]. Pat Gelsinger has publicly stated his belief that allowing cymer to become european-owned was a mistake, highlighting the strategic importance of xlight’s mission to restore us leadership [1]. Xlight’s success could reshape the competitive landscape, potentially impacting asml’s market share and stock performance [3].