New York's $10B Investment Aims to Lead Global Chip Race

New York State is investing $10 billion to establish a cutting-edge semiconductor research facility at the University at Albany, in collaboration with chip companies such as IBM, Micron Technology, Applied Materials, and Tokyo Electron. The facility will be equipped with advanced chip-making equipment from ASML Holding NV. This initiative aims to make New York a significant research hub in the global chip race and reduce reliance on foreign technologies. The project is part of a larger strategy to bolster domestic chip production and create 700 jobs, attracting at least $9 billion in private investment.