A list of the top 66 universities which spent the most on R&D in fiscal year 2018:
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Johns Hopkins University–$2.66 billion
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University of Michigan–$1.6 billion
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Univ. of California–San Francisco–$1.596 billion
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Univ. of Pennsylvania–$1.442 billion
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Univ. of Washington–Seattle–$1.414 billion
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UCLA–$1.318 billion
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UC-San Diego–$1.265 billion
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Univ. of Wisconsin–$1.2055 billion
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Harvard–$1.173 billion
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Duke–$1.168 billion
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Stanford–$1.157 billion
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UNC–$1.136 billion
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Cornell–$1.072 billion
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Univ. of Pittsburgh–$1 billion
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Yale–$990 million
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MIT–$964 million
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Minnesota–$955 million
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Columbia–$947 million
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U. Texas MD Cancer Center–$930 million
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Texas A&M–$922 million
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Penn State–$909 million
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Georgia Tech–$892 million
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USC–$892 million
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NYU–$888 million
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Ohio State–$875 million
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Univ. of Florida–$865 million
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WashUStL–$816 million
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Northwestern University–$806 million
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UCal-Berkeley–$796 million
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UC-Davis–$789 million
Whenever I review these R&D expenditure lists, I am always surprised that #5 University of Washington is not higher ranked by US News.