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Applied Materials ($AMAT) has been denied funding from the US Chips Act for its proposed $4 billion research and development facility in Silicon Valley. This decision highlights potential gaps in the US government's approach to supporting semiconductor research. The denial of funds to Applied Materials, a leading chip-equipment maker, suggests that the US is unlikely to support major chip-equipment manufacturers with direct subsidies from the Chips Act. The information was reported via @mackhawk.
Applied Materials was denied a US Chips Act grant for a $4 billion project in the heart of Silicon Valley https://t.co/gWZ6xOD6Ym
new: Applied Materials was informed by officials that it won’t receive subsidies for a $4 billion project. It means the US is unlikely to support any major chip-equipment makers with direct subsidies from Chips Act, people familiar with the matter say. https://t.co/4YHXwArho9
JUST IN: Applied Materials, $AMAT, was informed by US officials that it won’t receive Chips Act money for a $4 billion project, per Bloomberg
