US awards $500 million to Nvidia-backed SandboxAQ for finding new chipmaking materials
The US government awarded $500 million on Wednesday to startup SandboxAQ to develop new chemicals and materials for domestic semiconductor manufacturing, including alternatives to PFAS and rare earth imports.
The award is part of President Donald Trump’s move to allocate research funds under the CHIPS Act, an effort that previously funded a $150 million investment in new chip manufacturing tools and a $2 billion investment in quantum computing.
SandboxAQ, backed by Nvidia, was valued at $5.75 billion in April 2025 and has raised more than $1 billion to date.
