TECH - Samsung Secures $6.4B from US for Texas Chip Factory After Nvidia Supplier TSMC's Breakthrough | Benzinga
The U.S. government is awarding Samsung Electronics Co (OTC:SSNLF) up to $6.4 billion to expand its chip-making operations in Taylor, Texas. This is part of a broader Biden administration initiative to rejuvenate semiconductor manufacturing in the United States.
This grant will support Samsung in increasing its investment in the region to about $45 billion, enabling the construction of a second chip-making factory, an advanced chip-packaging facility, and enhancing research and development capabilities.
This effort more than doubles Samsung’s initial commitment in 2021 for a chip-making plant in Taylor and aligns with the objectives of the 2022 Chips Act, which allocates $39 billion in manufacturing grants ...