Semiconductor manufacturer Akash Systems has signed a non-binding preliminary agreement with the U.S. Department of Commerce for a proposed $121M advanced semiconductor manufacturing facility in West Oakland, adding a major boost to the neighborhood’s growing tech ecosystem.

The agreement, announced November 13, 2024, includes $18.2 million in proposed CHIPS Act funding and $50 million in federal and California state tax credits. The planned facility would transform an existing building’s 40,000-square-foot space into an advanced semiconductor manufacturing plant focused on diamond cooling technology, creating over 400 manufacturing and construction jobs.

We’ve reached out to Akash Systems asking about project timeline and location. It’ll be interesting to see if the advanced semiconductor plant joins other tech startups in West Oakland’s growing innovation district or chooses a different location in the neighborhood. Will update this post if we hear back any other details.