TECH - US To Shower Samsung With $6B To Boost Chip Production In America: Report | Benzinga
In a significant development, Samsung Electronics Co. (OTC:SSNLF) is reportedly on the verge of securing over $6 billion from the U.S. government to expand its chipmaking operations in the country.
What Happened: As per a Bloomberg report released on Thursday, citing people familiar with the matter, the U.S. is gearing up to provide more than $6 billion to Samsung. This funding will reportedly assist the tech behemoth in broadening its operations beyond a previously announced project in Texas.
The financial aid, part of the 2022 Chips and Science Act, is one of several substantial awards that the Commerce Department is expected to announce ...