- Applied Materials Inc (NASDAQ:AMAT) disclosed an investment of around $4 billion for creating the world's largest and most highly advanced research facility, Equipment and Process Innovation and Commercialization (EPIC) Center, in Silicon Valley.
- The company expects to invest over the next seven years in building the EPIC center at its campus and expects subsidies from the government under the CHIPS and Science Act.
- The new innovation center is expected to finish by early 2026 and will host around $25 billion of R&D work in the first 10 years of operations.
- The multi-billion dollar R&D platform, which will be the size of over three American football fields, will create up to 2,000 new engineering jobs in Silicon Valley and probably another 11,000 in other industries.
- The EPIC center will facilitate chipmakers to have dedicated space within an equipment supplier facility and provide early access to next-generation processes and tools much before equivalent processes are installed at their facilities.
- Major chipmakers, including Advanced Micro Devices Inc (NASDAQ:AMD), International Business Machines Corp (NYSE:IBM), Intel Corp (NASDAQ:INTC), Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), and Western Digital Corp (NASDAQ:WDC) showed their support to Applied Materials.
- The new facility will also allow university researchers to work with industry professionals and boost the semiconductor industry talent.
- The company received alliances from major universities such as the Massachusetts Institute of Technology, the State University of New York, and the University of California, Berkeley.
- Also Read: Applied Materials ICAPS Strength Is 'On Fire,' Analyst Review Q2 Results, Outlook
- Price Action: AMAT shares are trading higher by 0.03% at $126.99 on the last check Monday.
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