Samsung Electronics Co (KRX:005930) and SK Hynix (KRX:000660) joined the US equipment maker Applied Materials-led $5 billion global semiconductor research and development initiative in California, Pulse reported Tuesday.

The US-based company launched its Equipment and Process Innovation and Commercialization Center facility in Sunnyvale, California, on Monday, the report said.

Among the founding partners of the EPIC Center are Taiwan Semiconductor Manufacturing Co. (TPE:2330), Kioxia (TYO:285A), and Intel, among others.

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