New York joins companies to invest $10B in chip research facility, WSJ says

New York state will be joining chip companies to invest $10B in a semiconductor research facility at the University of Albany, Asa Fitch and Jimmy Vielkind of The Wall Street Journal reports. NY Creates, a nonprofit, will coordinate the construction and will use state funds to acquire equipment from ASML Holding. (ASML). Once complete, the project and its partners will begin next-generation chip manufacturing at the location. Partners of the project include IBM (IBM), Micron (MU), Applied Material (AMAT), and Tokyo Electron (TOELY).