(Reuters) – The Biden administration announced on Thursday an $825 million investment in a new semiconductor research and development facility in Albany, New York, aimed at boosting high-tech manufacturing and reducing dependence on foreign technologies.
The New York facility is expected to drive innovation in EUV technology, a complex process needed to make semiconductors, said the U.S. Department of Commerce and Natcast, operator of the National Semiconductor Technology Center (NTSC).
The facility’s launch “represents a key milestone in ensuring that the United States remains a global leader in semiconductor innovation and research and development,” said Secretary of Commerce Gina Raimondo.
Last year, Raimondo said it would award multiple financial awards that could radically change the shape of U.S. chip production.
The announcement comes days after the Biden administration said it was finalizing rules that would limit U.S. investment in artificial intelligence and other technology sectors in China that could threaten U.S. national security.
The new rules are scheduled to come into force on January 2 and are part of a broader push to prevent US know-how from helping the Chinese develop advanced technologies.
