Jack Selby, managing director of Thiel Capital and founder of Copper Sky Capital, is strategically investing in hardware startups with a focus on reshoring chip fabrication to Arizona. His firm, which previously invested in Nvidia competitor Etched, leveraged its deep ties to the state’s burgeoning semiconductor industry for access. Etched, valued at $5 billion, is preparing to ship its first TSMC-manufactured chips this summer.

Selby’s investment thesis centers on Arizona’s growing role in chip production, particularly with TSMC’s planned facility. By promising to help companies like Etched move manufacturing to Arizona, Copper Sky gains access to promising startups and supports the state’s economic development goals. Selby’s position on the Arizona Commerce Authority aids this mission by facilitating business recruitment.

Copper Sky is currently raising a $300 million second fund, signaling continued ambition to back high-growth companies, including those on the West Coast. The firm's strategy involves bridging the gap between expensive coastal startups and the manufacturing capabilities being developed in Arizona, positioning Selby as a key player in the regional tech and manufacturing scene.