IBM, Micron to Be Joined By New York in $10B Chip Research Facility - Report

Seekingalpha2023-12-12

New York state is collaborating with chip companies to invest $10B in a semiconductor research facility at the University at Albany which is set to include some of the most advanced chip-manufacturing...

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It will also use state funds to buy chip-making equipment from Dutch company ASML (NASDAQ: ASML), the report added.After the machinery is installed, the project and its partners will start work on next-generation chip production there, as per the office of New York Governor Kathy Hochul. The collaborating partners include IBM (NYSE: IBM), Micron Technology (NASDAQ: MU), Applied Materials (NASDAQ: AMAT) and Tokyo Electron.The expansion could help New York's efforts to become a research hub under the $53B Chips Act in 2022. This legislation included $11B for a National Semiconductor Technology Center to encourage local chip research and development, the report noted.The project at the Albany complex, which started in the 1990s and has been expanded in several stages since, would create about 700 jobs and bring in at least $9B of private money, the report added citing Hochul's office.New York is investing $1B to acquire the ASML equipment and construct a building with 50,000 square feet of chip-production space. Construction is anticipated to take around two years, the report noted.The machine to be installed in Albany is next generation system called high-NA EUV, which is not anticipated to be used in commercial chip manufacturing until 2025, according to the report.Expanding domestic chip manufacturing and research has become priority in the U.S. in recent years as worries increase over China's expanding reach over the industry.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2390535880"}