The administration of the President of the United States Joe Biden on Thursday, October 31, announced investments in the amount of $825 million in the implementation of a project of a new semiconductor research and development facility in Albany, New York.
The mentioned decision on financial injections is in line with Washington’s desire to boost high-tech homegrown production and reduce US dependence on foreign technologies.
The facility in New York is expected to drive innovation in the area of extreme ultraviolet lithography technologies. In this case, it means a complex process that is necessary for the implementation of semiconductor manufacturing activities. Information about the facility in New York was published by the United States Department of Commerce and Natcast, operator of the National Semiconductor Technology Center (NTSC).
US Commerce Secretary Gina Raimondo said the launch of the new facility represents a key milestone in ensuring the United States remains a global leader in innovation and semiconductor research and development. Last year, she announced the multiple funding awards, which will drastically reshape chip manufacturing in the country.
The investment announcement came days after the Joe Biden administration said it was in the final stages of working on rules that would limit United States investments in artificial intelligence and other technology areas in China. In this context, it was noted that the development of the Asian country in the mentioned direction contains a potential threat to US national security.
The specified rules are expected to come into effect on January 2, 2025. These measures are part of a larger effort by the United States to ensure that China does not use US know-how to develop sophisticated technologies. It is worth noting that the technology sector is gradually becoming one of the spaces of geopolitical rivalry, including in the context of relations between Washington and Beijing, which are on a trajectory of consistent deterioration. The United States has already restricted shipments to China of advanced chips and equipment needed to manufacture microcircuits of the appropriate category. Washington has also repeatedly stated its intention to scale up and deepen the relevant measures. At the same time, chips are what can be called a basic component of modern technology. Over time, countries’ access to microcircuits and the ability to independently make these products will increasingly determine their economic potential and position in the international political arena.
As we have reported earlier, India to Fabricate Its First Chip in Two Years.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
