© applied materials
General |
Applied Materials denied Chips Act funding for R&D lab
Government officials have told Applied Materials that it won’t be receiving Chips Act money to fund its planned research and development centre in Silicon Valley.
This new development was not unexpected. Previously, the government had assigned USD 52.7 billion in new funding to boost the domestic production of semiconductors as part of its Chips Act scheme. But earlier this year, the Biden administration announced that it would no longer fund the construction or renovation of facilities for semiconductor research and development within this process.
In response, Applied Materials suggested it might abort its proposed Silicon Valley facility, which it announced in May 2023. The company had hoped to get US support for the $4 billion unit in Sunnyvale. But, according to Bloomberg, this week Commerce Department officials decided the project didn’t qualify for Chips Act money.
