Applied Materials to expand manufacturing in Silicon Valley, Texas

Applied Materials Inc.
AMAT,
+2.32%
said late Tuesday it plans to make “multi-billion-dollar investments” to expand its manufacturing capacity between now and 2030. The chip-manufacturing equipment maker said it plans “a next-generation R&D center” in Sunnyvale, Calif., that will “be capable of engaging with a future U.S. National Semiconductor Technology Center.” Applied Materials expects to build out with support from the U.S. CHIPS Act. The company said it plans a launch event in early 2023 for the center. Applied Materials also plans to expand capacity in Austin, Texas, where the company has based its volume-manufacturing operations since 1993.