{"id":54695,"date":"2023-12-13T02:56:55","date_gmt":"2023-12-13T02:56:55","guid":{"rendered":"https:\/\/prosfunds.com\/business\/new-york-plans-a-10-billion-chip-research-center-with-ibm-micron-and-others\/"},"modified":"2023-12-13T02:56:56","modified_gmt":"2023-12-13T02:56:56","slug":"new-york-plans-a-10-billion-chip-research-center-with-ibm-micron-and-others","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=54695","title":{"rendered":"New York plans a $10 billion chip research center with IBM, Micron and others"},"content":{"rendered":"
\n

\n A new $10 billion mega chip-making complex is coming to New York state.\n <\/p>\n

\n Governor Kathy Hochul announced New York\u2019s efforts to build a High NA Extreme Ultraviolet (EUV) Lithography research and development center. In a statement Monday, she said the state will invest $1 billion and join forces with chip industry giants including IBM, Micron and Applied Materials to move the project forward.\n <\/p>\n

\n The center will create at least 700 new jobs and could generate an estimated $9 billion in private spending, according to the statement, as well as support talent development through a range of programs including within the workforce and K-12 STEM academic initiatives.\n <\/p>\n

\n The \u201cnext-generation semiconductor research and development center\u201d is set to be built at the Albany NanoTech Complex near the University of Albany, a 1.65 million square-foot complex that has been growing in stages since the 1990s. The complex is operated by NY CREATES, a nonprofit that will also oversee the new center\u2019s construction and install new chip-making equipment acquired from Dutch machinery company ASML Holding.\n <\/p>\n

\n NY CREATES is an acronym for New York Center for Research, Economic Advancement, Technology, Engineering and Science.\n <\/p>\n

\n New York\u2019s plans to expand microchip production are intended to enhance the state\u2019s bid for research hub designation under the federal CHIPS and Science Act, a $53 billion bipartisan bill passed last year to help boost America\u2019s chip manufacturing. With the designation, New York could unlock over $11 billion in federal funding with the designation.\n <\/p>\n

\n \u201cWe have a focus on economic development, and it\u2019s really to drive the innovation economy around the region of the Northeast as well as across the nation,\u201d NY CREATES President David Anderson said Tuesday at an event hosted by the Center for Strategic & International Studies (CSIS).\n <\/p>\n

\n New York has already made chip production a statewide priority: in January, Hochul announced the creation of the Governor\u2019s Office of Semiconductor Expansion, Manufacturing, and Integration (GO-SEMI), a $45 million effort. Multiple large chip factories already call New York State home, and a $100 billion Micron-funded factory was announced last year.\n <\/p>\n

\n \u201cThis investment in Albany NanoTech will reinforce New York\u2019s position as a global leader in semiconductor research and development,\u201d Senator Kirsten Gillibrand said in the statement. \u201cEstablishing this new semiconductor center will also bolster our national security, allowing the United States to develop the world\u2019s most complex and powerful semiconductors right at home.\u201d\n <\/p>\n

\n Monday\u2019s announcement shows a doubling down on the state\u2019s continuing efforts to boost the economy and contribute to US efforts to renew semiconductor manufacturing, driven by economic and national security concerns. America is in the midst of an ongoing chip production battle with China, Russia, Iran and other countries, with new rules unveiled in October to further tighten a sweeping set of export controls first introduced last year.\n <\/p>\n

\n The \u201cUS can\u2019t afford to be behind again,\u201d said Gaurav Gupta, a vice president and analyst of emerging technologies and trends at Gartner in an email to CNN. \u201c[T]his will go a long way to create a center where researchers\/engineers from private semiconductor companies can come together and work \u2013 NY state can become a semiconductor research and manufacturing hub.\u201d\n <\/p>\n

\n An <\/strong>international trade war over chip production has been a focal point of policy and discussion in recent years, with the US limiting the types of semiconductors American companies can sell to foreign countries and China announcing in July it would curb overseas exports of germanium and gallium, both essential for making semiconductors.\n <\/p>\n

\n Semiconductors are also impacted by soaring global demand for artificial intelligence in the past year, with limits in the supply chain for powerful chips and export bans on some US companies to avoid shipping some chips to China.\n <\/p>\n

\n Multiple companies including Microsoft and OpenAI have voiced concern over the limited supply of graphics processing units (GPUs) and the possible risk factor for investors.\n <\/p>\n

\n \u201cFor the majority of our products, we have the ability to use other manufacturers if a current vendor becomes unavailable or unable to meet our requirements,\u201d Microsoft CEO Satya Nadella wrote in a shareholder letter in October when discussing GPUs. \u201cHowever, some of our products contain certain components for which there are very few qualified suppliers. Extended disruptions at these suppliers could impact our ability to manufacture devices on time to meet consumer demand.\u201d\n <\/p>\n

\n In another milestone Monday for US chip production, the Department of Commerce announced its first agreement under the CHIPS Act with the United Kingdom\u2019s BAE Systems, Inc. in a $35 million deal going toward modernizing a New Hampshire facility to help quadruple chip production for military aircraft.\n <\/p>\n

\n \u201cToday\u2019s announcement is the first step of many to come,\u201d the White House wrote in a release. \u201cIt will advance our national security goals, and it will spur local investment and job creation.\u201d\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A new $10 billion mega chip-making complex is coming to New York state. Governor Kathy Hochul announced New York\u2019s efforts to build a High NA Extreme Ultraviolet (EUV) Lithography research and development center. In a statement Monday, she said the state will invest $1 billion and join forces with chip industry giants including IBM, Micron […]<\/p>\n","protected":false},"author":1,"featured_media":54696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-54695","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nNew York plans a $10 billion chip research center with IBM, Micron and others | Prosfunds<\/title>\n<meta name=\"description\" content=\"A new $10 billion mega chip-making complex is coming to New York state. 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