Applied Materials May Cancel $4B Silicon Valley R&D Facility Due to Funding Cuts
Applied Materials is considering scaling back or canceling its plans to open a $4 billion research and development facility in Silicon Valley due to a lack of government funding. The decision comes after the U.S. government indicated it would not provide funding from the CHIPS Act, aimed at supporting chip manufacturing, affecting the $AMAT project. This development follows the Pentagon scrapping $2.5 billion in chips funding and Congress's decision to remove commercial R&D funding, placing the burden on the Commerce Department. The situation highlights challenges in U.S. industrial policy and its impact on the semiconductor industry.
Sources
San Francisco Chronicle
Applied Materials may scale back or cancel plans to open a $4 billion research and development facility in the heart of Silicon Valley, according to sources familiar with the discussions. https://t.co/ft5aV8rC2m
Mackenzie HawkinsA tale of US industrial policy… 1. The Pentagon scrapped $2.5b in chips funding 2. Congress saddled Commerce w the burden — so Commerce scrapped commercial R&D funding 3. Now Applied Materials is reconsidering a $4b R&D investment, per @sfchronicle: https://t.co/Igc5PS50aF https://t.co/LdIFcLuIgV https://t.co/jDHzMY1uxD
Dan Nystedt US chip equipment giant Applied Materials may delay or cancel a US$4 billion R&D investment in California, media report, after the US government said it would not fund the program out of CHIPS Act money, which is aimed at chip manufacturing. $AMAT #semiconductors…
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