Robert Besser
26 May 2023, 14:33 GMT+10
SAN FRANCISCO, California: US semiconductor toolmaker Applied Materials Inc has said it plans to spend up to $4 billion on a research center in the heart of Silicon Valley to speed up advances in semiconductor manufacturing.
The center, based in Sunnyvale, California, will come on line in 2026 and create up to 2,000 engineering jobs, said Applied, the world's largest maker of tools used in manufacturing chips.
The facility will host about $25 billion in research work over its first decade, pulling together staff from research universities and chipmakers, such as Intel Corp, Taiwan Semiconductor Manufacturing Co and Samsung Electronics, among others.
The announcement comes as the US is trying to bring back advanced semiconductor manufacturing, with a $52 billion measure passed last year in Congress.
Applied Materials said it will invest in the new facility, called the Equipment and Process Innovation and Commercialization (EPIC) Center over seven years, and aims to receive government subsidies through the CHIPS and Science Act.
In an interview with Reuters, Gary Dickerson, CEO of Applied Materials, said, "We are absolutely going to go forward. The scale of how fast we invest is going to be tied to the government incentives."
While announcing the news at Applied Materials' Silicon Valley event, US Vice President Kamala Harris said the investments were the outcome of the administration's incentives.
"When completed, it will be the largest such facility in the world. And of course, it will contain some of the most cutting-edge technology. These investments also strengthen our national security by making sure that we have the capacity to produce semiconductors here at home," Harris said.
Senior administration officials briefing the media ahead of the event said the Commerce Department has received more than 300 statements of interest for the $39 billion portion of the CHIPS Act for manufacturing incentives.
Get a daily dose of Hong Kong Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Hong Kong Herald.
More InformationNAYPYIDAW, Myanmar: Kyar Win, spokesperson for the Myanmar National Democratic Alliance Army, which launched a surprise offensive last month against ...
BEIJING, China: The country's commerce ministry said that during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho ...
© Provided by Xinhua YINCHUAN, Dec. 2 (Xinhua) -- A blue-and-white porcelain bottle from Syria reminds the audience at a ...
© Provided by Xinhua BEIJING, Dec. 2 (Xinhua) -- As a central hub of China's futures market, the Shanghai Futures ...
China and other growing economies are catching up, Dmitry Peskov saysThe American-centric world is coming to an end, giving way ...
© Provided by Xinhua YINCHUAN, Dec. 2 (Xinhua) -- Li Siyao, a 31-year-old drama director, has just organized a successful ...
CHEYENNE, Wyoming: This week, the Biden administration raised US$3.4 million from a sale of oil and gas drilling rights in ...
NEW YORK, New York - U.S. stocks extended their rally on Friday despite remarks by Federal Reserve Chair Jerome Powell ...
MOSCOW, Russia: Russia's trade in oil with India, one of the most lucrative oil trade routes since the imposition of ...
LONDON - Health experts and tobacco campaigners have strongly criticized New Zealand's decision to repeal laws that aimed to ban ...
NEW YORK, New York - The Dow Jones index was the standout on U.S. financial markets on Thursday with a ...
WASHINGTON D.C.: Despite the ongoing economic uncertainty, major discounts during the Thanksgiving weekend enticed U.S. shoppers, who spent some US$38 ...