Applied Materials Denied US CHIPS Act Funding
Applied Materials was denied funding for its $4 billion EPIC Center in California, aimed at semiconductor advancements. The future of the center is uncertain amid an ongoing investigation into export violations.
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Applied Materials has been denied funding under the US CHIPS and Science Act for its proposed $4 billion research facility in Sunnyvale, California. The facility, known as the Equipment and Process Innovation and Commercialization (EPIC) Center, was intended to advance semiconductor manufacturing and was projected to host around $25 billion in research over its first decade, with an opening planned for 2026. The denial of funding leaves the future of the center uncertain. The CHIPS Act, which was approved in July 2022, allocated $52 billion for subsidies to US semiconductor manufacturers, with funding decisions made by the Department of Commerce. Additionally, Applied Materials is currently under investigation by the US government for allegedly shipping chip manufacturing tools to China without the necessary export licenses. This investigation involves claims that the company circumvented US sanctions by sending equipment to the partly state-owned SMIC in China through a South Korean subsidiary. While the investigation is ongoing, there is no indication that it is related to the company's unsuccessful funding bid.
- Applied Materials was denied funding for a $4 billion research center under the CHIPS Act.
- The EPIC Center aimed to foster advancements in semiconductor manufacturing.
- The CHIPS Act allocated $52 billion for US semiconductor manufacturers.
- Applied Materials is under investigation for allegedly shipping tools to China without licenses.
- The future of the EPIC Center is now uncertain following the funding denial.
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