Samsung awarded $4.8B to boost US chip production
The US Department of Commerce has awarded Samsung Electronics up to USD 4.745 billion in direct funding under the CHIPS Incentives Program, supporting the company’s USD 37 billion expansion of advanced semiconductor manufacturing in Central Texas.
The investment will fund the construction of two new advanced logic fabrication plants and a research and development facility in Taylor, Texas, alongside an expansion of Samsung’s existing Austin facility. The projects are expected to create over 3,500 high-tech manufacturing jobs within the next five years.
“With this investment in Samsung, the U.S. is now officially the only country on the planet that is home to all five leading-edge semiconductor manufacturers. This is an extraordinary achievement, which will ensure we have a steady, domestic supply of the most advanced semiconductors that are essential to AI and national security, while also creating tens of thousands of good-paying jobs and transforming communities across the country,” says U.S. Secretary of Commerce Gina Raimondo, in a press release.
