Javascript file object max size?

Attempting to read a file around 2MB. However, it seems the file object in javascript maxes out at 32K - is this correct? I can read bytes up to 32767, but not higher.

I am attempting to do this by storing the data in a variable, is this the problem?

like:

f = new File('testfile','read');
var end = f.eof;
var text = f.readbytes(end);