What SkyWater Technology does

SkyWater Technology is a U.S.-based pure-play semiconductor foundry headquartered in Bloomington, Minnesota, operating wafer fabrication facilities in Minnesota, Florida, and Texas. The company provides development and manufacturing services for integrated circuits and microelectronic devices across mature CMOS nodes (90nm, 130nm, and 65nm+), radiation-hardened microelectronics, heterogeneous integration, MEMS, photonics, and superconducting technologies. It holds DMEA Category 1A Trusted Foundry accreditation at two facilities, positioning it as a key domestic supplier for U.S. defense and national security programs, and maintains sector-specific quality certifications (AS9100, IATF16949, ISO13485, ISO9001). Named customers include D-Wave Quantum, PsiQuantum, QuamCore, Lumotive, Nautilus Biotechnology, Infineon (under a long-term supply agreement), and various DoD programs.

The company's Technology as a Service (TaaS) model is the centerpiece of its go-to-market approach, combining Advanced Technology Services (ATS) for early-stage co-creation starting at MRL 3 with Wafer Services for volume production. This engagement strategy targets mid-size companies and emerging technology developers—including those working on quantum computing, AI hardware, biomedical devices, automotive, and industrial applications—who need a domestic U.S. manufacturing partner. Revenue is generated through quote-based wafer fabrication pricing under multi-year supply agreements, plus professional services fees for early-stage development work. FY2025 revenue reached $442.1 million, representing 29% year-over-year growth, with substantial contribution from the integration of Fab 25 acquired from Infineon in June 2025.

SkyWater's recent trajectory has been shaped by two transformational events: the $93 million acquisition of Infineon's 200mm Fab 25 in Austin, Texas (adding approximately 400,000 wafer starts per year of capacity and roughly doubling headcount to 1,551 employees), and the January 2026 announcement of a definitive agreement to be acquired by quantum computing company IonQ for approximately $1.8 billion ($35.00 per share cash-and-stock). The IonQ merger was approved by SkyWater stockholders on May 8, 2026, with closing expected in Q2-Q3 2026 subject to FTC second-request review and other regulatory approvals, and would position SkyWater as a vertically integrated quantum hardware manufacturing platform within IonQ.

Name

SkyWater Technology

Legal name

SkyWater Technology Foundry, Inc.

Website

https://www.skywatertechnology.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

SkyWater Technology is a U.S.-based pure-play semiconductor foundry offering wafer fabrication and development services across CMOS, rad-hard, and superconducting technologies, serving aerospace & defense, automotive, biomedical, and quantum computing customers as a DMEA-accredited trusted supplier.

Ownership category

akta.pro rank

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Personnel, Technology or R&D, Supply Chain, Operations

Revenue model

1. Wafer Manufacturing Services: Volume production of semiconductor wafers for customers using 90nm, 130nm, and 65nm+ process technologies across Minnesota, Florida, and Texas facilities. Revenue recognized upon wafer delivery with long-term supply agreements.
2. Advanced Technology Services (ATS): Early-stage technology development and co-creation services engaging with customer ideas from MRL 3 through production qualification. Engages innovators in quantum computing, AI hardware, biomedical, and other emerging technology sectors.
3. Advanced Packaging Services: Heterogeneous integration services including interposers, FOWLP, and wafer bonding for chiplet architectures, growing segment supporting AI and next-generation computing applications
4. Fab 25 Operations (Texas): 200mm wafer fabrication capacity acquired from Infineon, adding approximately 400,000 wafer starts per year in capacity with 65nm+ feature geometries

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

SkyWater Technology is a U.S.-based pure-play semiconductor foundry that manufactures integrated circuits and microelectronic devices for fabless companies, IDMs, and OEMs under a Technology as a Service (TaaS) model. It provides wafer fabrication services across 90nm, 130nm, and 65nm+ process technologies, plus advanced technology development (ATS), heterogeneous integration/advanced packaging, and design enablement (PDKs, MPW shuttles) at facilities in Minnesota, Florida, and Texas.

Product overview

SkyWater Technology operates as a pure-play semiconductor foundry offering a Technology as a Service (TaaS) model that provides comprehensive services from concept to production. The portfolio includes Manufacturing Services with wafer fabrication across Minnesota, Florida, and Texas facilities; Advanced Technology Services (ATS) for collaborative technology development; and Design Enablement including PDKs and MPW programs. Technology platforms span Mixed-Signal CMOS (90nm/130nm), Rad-Hard Microelectronics (90nm FDSOI), Superconducting Technology, Heterogeneous Integration Solutions, and ThermaView ROIC Solutions. The company serves focused markets including Aerospace & Defense (DMEA-accredited Trusted Foundry), Automotive, Biomedical, and Industrial sectors. Recent expansion includes Fab 25 acquisition for additional 200mm capacity.

Differentiator

Problem solved

Functional benefit

Products and services

• Technology as a Service (TaaS) SkyWater's foundational service model that streamlines the concept-to-production journey for semiconductor innovators, combining advanced technology services, wafer services, and heterogeneous integration solutions in a single foundry environment.
• Wafer Manufacturing Services

Quantifiable outcome

• 29% year-over-year revenue growth to $442.1 million in FY2025
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered strategic, core and minor.

• Silicon Quantum ComputingstrategicStrategic or Co-development Partner · 20 November 2025Partnership to advance hybrid quantum-classical computing by combining U.S.-based semiconductor manufacturing with world-leading quantum processor precision.
• QuamCorestrategicStrategic or Co-development Partner · 6 November 2025Collaboration to fabricate digital superconducting controller for scalable quantum computing applications.
• D-Wave QuantumcoreStrategic or Co-development Partner · 12 March 2025SkyWater's commercially fabricated qubits power D-Wave's landmark quantum computing achievements in quantum supremacy demonstrations.
• Infineon TechnologiescoreStrategic or Co-development Partner · 26 February 2025Long-term supply agreement following SkyWater's acquisition of Infineon's Fab 25 in Austin, Texas. Enables Infineon to maintain strong, efficient, and scalable manufacturing footprint in the United States while SkyWater operates the fab as a foundry for broader customer base.
• Deca TechnologiescoreTechnology or Integration · 1 January 2025Technology transfer and license agreement for Deca's Gen 2 M-Series Fan-out and Adaptive Patterning Technology, enabling state-of-the-art onshore advanced packaging foundry services for chiplet architectures.
• GooglecoreStrategic or Co-development Partner · 1 January 2023Partnership to create first open-source process design kit (SKY130) based on SkyWater's 130nm CMOS platform, making chip development accessible to broader developer community through GitHub-hosted PDK.
• Adeia (Xperi)coreTechnology or Integration · 12 May 2022License agreement for ZiBond and DBI wafer bonding technologies enabling extremely high interconnect density capability for heterogeneous integration applications.
• Cirtec MedicalminorStrategic or Co-development PartnerSemiconductor division (formerly Cactus Semiconductor) provides ASIC design services for medical and life sciences applications, collaborating with SkyWater for fabrication.
• FrontgradestrategicStrategic or Co-development PartnerASIC design and manufacturing partner to aerospace and defense community since 1980s, offering turnkey and collaborative design services for advanced digital, power, analog, and mixed-signal products.
• CadencecoreTechnology or IntegrationSkyWater's PDK environment based on Cadence tool set ensuring silicon design excellence and system innovation for customers.
• BridgstrategicStrategic or Co-development PartnerNon-profit entity for administering USG-funded technology programs at SkyWater Florida site (Center for Neovation), organizing advanced packaging National Manufacturing Institute.
• MIT Lincoln LabstrategicStrategic or Co-development PartnerNext-generation technology development for DARPA Electronics Resurgence initiative, collaborating on advanced semiconductor research.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• GlobalFoundries: GlobalFoundries is the closest direct peer — a publicly traded pure-play semiconductor foundry serving similar automotive, industrial, and defense customers with mature and specialty process nodes. It competes head-to-head with SkyWater for foundry customers seeking domestic alternatives and is similarly focused on differentiated, non-leading-edge process technologies.
• Tower Semiconductor: Tower Semiconductor (now part of Intel) was historically a direct pure-play foundry peer specializing in analog, RF, MEMS, and power management process technologies — directly overlapping SkyWater's specialty foundry positioning in aerospace, automotive, and industrial end markets.
• UMC: United Microelectronics Corporation (UMC) is a global pure-play foundry specializing in mature and specialty process technologies, similar to SkyWater's positioning. Both companies compete for fabless customers in automotive, industrial, and consumer end markets.

Broad incumbents

• Intel Foundry: Intel Foundry is a broad incumbent establishing a pure-play foundry business and competing for U.S. domestic foundry customers across defense and commercial markets. Its scale, federal subsidies via the CHIPS Act, and IDM heritage make it a structurally significant competitor to SkyWater's domestic positioning.
• TSMC: TSMC is the global pure-play foundry incumbent with leading-edge process capabilities. While not directly competing in SkyWater's specialty 90nm/130nm/65nm niche, TSMC sets the competitive benchmark for foundry quality, scale, and customer expectations that SkyWater must address.
• Samsung Foundry: Samsung Foundry operates one of the largest pure-play foundry businesses globally and competes for fabless customers across advanced and mature nodes. Its broad portfolio overlaps with SkyWater's specialty foundry offering at the mature-node end.
• ON Semiconductor: ON Semiconductor is an IDM serving automotive, industrial, and aerospace markets with power and analog semiconductors — overlapping end markets and customer segments with SkyWater's foundry services, particularly in automotive-grade CMOS and power management.
• Texas Instruments: Texas Instruments is a large analog and embedded processing IDM with its own extensive fab footprint, serving similar automotive, industrial, and defense end markets. It is a relevant comparison for SkyWater's specialty-process foundry positioning and customer overlap.

Emerging players

• Polar Semiconductor: Polar Semiconductor is a U.S.-based specialty foundry focused on analog, power, and sensor ICs, with overlap in SkyWater's automotive and industrial end markets. It represents an emerging domestic competitor benefiting from the same CHIPS Act-driven reshoring tailwinds.

Others

• Micross: Micross is a partner and complementary supplier of advanced packaging and 3D integration services used alongside SkyWater's foundry offerings. It is an ecosystem participant — not a direct competitor — but represents an adjacent capability set relevant to SkyWater's heterogeneous integration roadmap.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/skywaterfoundry
• YouTubeyoutube.com/channel/UCD7IcoaHujWQsEeo0pucvRw
• Facebookfacebook.com/SkyWaterTechnology
• LinkedInlinkedin.com/company/skywater-technology-foundry

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SkyWater Technology