November 12, 2011

Cypress Semiconductor is putting the silicon back in Silicon Valley.

With the IPO of Groupon behind us, and mobile-gaming juggernaut Zynga in the queue, it seems that Americans make only social-media software, computer games and iPhone apps. And while U.S. tech outfits lead the way in innovation for these categories, most people now overlook the boring stuff, such as computer chips. But those chips are as important to San Jose as the combustion engine is to Detroit.

So it is worth noting that a promising chip-related startup is open for business. Last week, Cypress (ticker: CY) CEO T.J. Rodgers unveiled Deca Technologies, achip startup at his winery and estate in Woodside, Calif. Deca plans to change the process of “packaging” semiconductors—and no, this doesn’t involve shrink wrap or foam peanuts. Cypress has invested $35 million in the venture, which has been quietly ramping up for two years.

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