Samsung to Get Over $6 Billion in US Chip Grants
Samsung is expected to invest more than $40 billion in Texas Chip plant.
The Biden administration plans to award Samsung Electronics Co. as much as $6.4 billion in grants to increase chip production in Texas, as part of US efforts to bolster domestic semiconductor manufacturing.
@Samsung to Get Over $6 Billion in US Chip Grants!
The company is expected to invest more than $40 billion in a Texas Chip plant,via Bloomberg#samsung #chip #ai pic.twitter.com/CzFlbIes7Z— The_Journalbiz (@the_journalbiz) April 16, 2024
Commerce dept.chart
The South Korean company plans to invest more than $40 billion overall, including in two foundry fabrication sites that will produce 4-nanometer and 2nm logic chips — one generation beyond the current state of the art.
The massive project will encompass a research and development site, and an advanced chip packaging facility in Taylor, Texas, that will help produce high bandwidth memory chips, which are critical for artificial intelligence applications.
The award will also be used to expand Samsung’s existing chipmaking facility in Austin, Texas, which will support US aerospace, defense and automotive industries, the Commerce Department said in a statement. The city of Taylor is just outside Austin.
It’s the latest in a series of multibillion-dollar awards by the Biden administration, which is using the 2022 Chips and Science Act to revitalize American chipmaking after decades of production shifting to Asia. Another goal is to counter the technological rise of China, which is building up its semiconductor industry.
