India, Oct. 30 -- Vertical Semiconductor, a power semiconductor company, today announced it has signed a letter of intent with the U.S. Department of Commerce's CHIPS Research and Development Office (CRDO) to receive up to $73 million in federal incentives under the CHIPS and Science Act.

The proposed incentives are expected to accelerate research and development of next-generation vertical gallium nitride (GaN) power transistors, unlock domestic production of this technology, and strengthen U.S. leadership in power infrastructure for artificial intelligence (AI) and high-performance computing.

Spun out of MIT, Vertical Semiconductor is developing vertical GaN FinFET technology that drives extreme efficiency and power density in power s...