According to CoinMeta, hedge fund Situational Awareness is investing $500 million in Source Foundry, a startup dedicated to developing new equipment to alleviate bottlenecks in advanced semiconductor manufacturing. This week, the fund injected an additional $400 million into the company, on top of previous commitments. Source Foundry was founded last year and is led by researchers from Stanford University, Abdulmalik Obaid and Joe Burg. The company recently completed a round of financing with a valuation of $5 billion. It focuses on extreme ultraviolet lithography tools, a field currently dominated by Dutch company ASML, with the aim of accelerating the production of AI accelerators and reducing costs. A partner at Source Foundry, Stephanie Zhan, stated: “If we trace the AI supply chain, from the model to the chip to the machines that manufacture them, each layer becomes increasingly critical and constrained. Source Foundry addresses the most urgent bottleneck in semiconductor manufacturing: lithography tools.”