30 AI News Investors Should Not Miss

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18. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Holders: 77

Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor industry. Latest reports, from Indian news publications, indicate that the company is in the process of setting up a research and development facility in Bengaluru, pending approvals from the Karnataka government in the area. The report comes amid the US visit of MB Patil, the Minister for Large and Medium Industries and Infrastructure Development in India, where he has held discussions with Applied Materials executives on setting up a center of innovation in the Asian country. Applied Materials, Inc. (NASDAQ:AMAT) has committed to spending nearly $400 million in India over the next four years to set up an engineering center in Bengaluru as well.

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