financetom
Technology
financetom
/
Technology
/
Applied Materials may postpone or cancel $4 billion California R&D facility, SF Chronicle reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Applied Materials may postpone or cancel $4 billion California R&D facility, SF Chronicle reports
Apr 8, 2024 4:16 PM

(Reuters) - Applied Materials ( AMAT ), the largest maker of semiconductor equipment in the U.S., may postpone or abandon its plans to build a $4 billion research and development facility in Silicon Valley due to a lack of government funding, the San Francisco Chronicle reported on Monday citing sources familiar with the matter.

The Biden administration said last month it would scrap plans to fund the program from the $52.7 billion Chips and Science Act due to "overwhelming demand" for funding awards to subsidize chip production.

Applied Materials ( AMAT ) did not immediately respond to a Reuters request for comment.

President Joe Biden had signed the bill in August 2022 amid a global shortage of chips, in a bid to bolster U.S. competitiveness with China in science and technology.

The measure aimed to subsidize U.S. chip manufacturing and expand research funding to address a recurrent shortfall that had harmed a variety of sectors, from cars and weaponry to washing machines and video games.

Applied Materials ( AMAT ), a strong candidate for a research award from the program, announced its plans for the California research center in May 2023 to speed up advances in semiconductor manufacturing.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Trump heads to UAE as it hopes to advance AI ambitions
Trump heads to UAE as it hopes to advance AI ambitions
May 26, 2025
* Preliminary agreement would allow US chip imports * Gulf region aims to become among top three global AI centers * President to visit US troops in Middle East By Gram Slattery, Andrew Mills and Federico Maccioni DOHA, May 15 (Reuters) - U.S. President Donald Trump was due to end a brief trip to Qatar with a speech to U.S....
Breaking Down OneStream: 14 Analysts Share Their Views
Breaking Down OneStream: 14 Analysts Share Their Views
May 26, 2025
Across the recent three months, 14 analysts have shared their insights on OneStream ( OS ) , expressing a variety of opinions spanning from bullish to bearish. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3...
China to US ocean cargo bookings surge after tariff pause, Vizion says
China to US ocean cargo bookings surge after tariff pause, Vizion says
May 26, 2025
LOS ANGELES (Reuters) -U.S. bookings for container transport from China to the United States spiked almost 300% in the wake of the United States and China pausing punishing tit-for-tat tariffs, container-tracking software provider Vizion said on Wednesday. The average bookings for the seven days ended Wednesday soared 277% to 21,530 20-foot equivalent units from 5,709 TEUs for the average for...
China to US ocean cargo bookings surge after tariff pause, Vizion says
China to US ocean cargo bookings surge after tariff pause, Vizion says
May 26, 2025
LOS ANGELES, May 14 (Reuters) - U.S. bookings for container transport from China to the United States spiked almost 300% in the wake of the United States and China pausing punishing tit-for-tat tariffs, container-tracking software provider Vizion said on Wednesday. The average bookings for the seven days ended Wednesday soared 277% to 21,530 20-foot equivalent units from 5,709 TEUs for...
Copyright 2023-2025 - www.financetom.com All Rights Reserved