Samsung will receive $6.4 billion from the US authorities for chip production in Texas – Kommersant

American authorities will allocate grants worth up to $6.4 billion to the South Korean company Samsung to expand chip production in Texas, reported Reuters with reference to the statement of the Ministry of Industry and Trade. The funds are planned to be allocated to factories, research centers and chip packaging.

The grants will be awarded as part of the CHIP Act. The funds will fund the creation and operation of two chip manufacturing facilities and research centers in Taylor, as well as the expansion of semiconductor manufacturing in Austin. The head of the US Department of Industry and Trade, Gina Raimondo, said that the investment will allow the United States to become a leader in the production and advanced packaging of chips, as well as in their development.

As Reuters notes, Samsung will receive the third largest grant under the Chip Act. In March, the US government allocated $8.5 billion to the American corporation Intel for the construction of chip production plants. In April, Taiwanese TSMC, which studies and produces semiconductor products, received $6.6 billion from the US authorities.

As reported WSJ Citing sources, Samsung plans to more than double its investment in semiconductor production in Texas to $44 billion. The company has already invested $17 billion in the construction of a chip manufacturing plant in Taylor. The company began operations in 2022. The construction of the second plant could cost more than $20 billion, WSJ wrote.

Lusine Balasyan