Apr 8, 11:31 PM

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.

#Applied Materials #Silicon Valley #CHIPS Act #the Pentagon #Congress #Commerce Department

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