Applied Materials to invest $4 billion in Silicon Valley chip research center

A rendering of the future Applied Materials Equipment and Process Innovation and Commercialization (EPIC) Center in Sunnyvale, California, U.S., is seen in this handout image obtained by Reuters on May 19, 2023. Applied Materials, Inc./Handout via REUTERS

SANTA CLARA, California (Reuters) - U.S. semiconductor toolmaker Applied Materials Inc on Monday said it plans to spend up to $4 billion on a research center in the heart of Silicon Valley to speed up advances in semiconductor manufacturing.

The center, which will be based in Sunnyvale, California, will come on line in 2026 and create up to 2,000 engineering jobs, said Applied, which is the world's biggest maker of the tools used in manufacturing chips.