General Electric announced a $500 million partnership with New York State, universities and 100 companies focusing on the development of next generation computer chips. The partnership named, the New York Power Electronics Manufacturing Consortium, will include $135 million in state funding to New York over five years.
The consortium will work to develop a new silicon carbide chip to provide an alternative to the current industry standard of silicon chips. The silicon carbide chips are more durable, faster, have more power, and required less cooling than silicon chips. These new chips would have applications in solar, wind and automotive industries.