ALBAWABA - Samsung's chip production investment in Texas will receive up to $6.4 billion in direct finance from the US government to boost semiconductor manufacturing. President Joe Biden's signature of the CHIPS and Science Act shows the nation's desire to lead the semiconductor industry.
Samsung will move its advanced semiconductor production and R&D to Texas under an initial agreement with the US Department of Commerce. Texas' semiconductor ecosystem will benefit from Samsung's $40 billion investment, which will create 21,500 employment.
The facility will manufacture cutting-edge semiconductors for AI, boosting US national security.
The US Department of Commerce announced that the CHIPS and Science Act financing will strengthen the semiconductor supply chain, promote technical leadership, and boost global competitiveness.
Along with the nation's long-term semiconductor production goals, the strategic goal is to create 20% of the world's most sophisticated chips by 2030.
This follows similar commitments to Taiwan Semiconductor Manufacturing Company (TSMC) and Intel earlier this month, signaling a US government push to reinvigorate its semiconductor industry and gain a global competitive edge.
