Applied Materials has announced a research collaboration with UC Berkeley at its EPIC Center, aimed at accelerating semiconductor materials and process innovation for AI computing. The partnership gives Berkeley researchers access to industry-scale tools in what Applied Materials calls the largest-ever U.S. investment in advanced semiconductor equipment R&D, designed to shorten the path from lab discovery to high-volume chip production. The company's narrative projects $53.0 billion revenue and $17.0 billion earnings by 2029, with a fair value estimate of $627.66, a 15% upside to its current price. Some analysts see EPIC-style co-innovation as a major accelerator, projecting revenue climbing toward about US$67.2 billion and earnings to roughly US$24.4 billion by 2029, while others worry that export restrictions to China could blunt that upside.
