U.S. semiconductor toolmaker Applied Materials Inc on Monday said it plans to spend up to $4 billion on a research center in the heart of Silicon Valley to speed up advances in semiconductor manufacturing.
The announcement comes as the U.S. is trying to bring back advanced semiconductor manufacturing with a $52 billion measure passed last year.
"We're absolutely going to go forward. The scale of how fast we invest is going to be tied to the government incentives," Gary Dickerson, CEO of Applied Materials, told Reuters. "The economics of this are compelling in terms of accelerating the technology road maps for our customers and also for Applied."
U.S. Vice President Kamala Harris is expected to attend an Applied Materials' event in Silicon Valley announcing the center, along with top executives from major chip companies.
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