United States concludes funding for the CHIPS Act for Samsung and Texas Instruments.
Samsung and Texas Instruments will receive over 6 billion dollars in total for chip manufacturing in the United States.
The U.S. Department of Commerce has granted over $6 billion in direct funding to Samsung and Texas Instruments under the CHIPS incentive program, according to announcements made on Friday. Samsung will receive the largest portion of this aid, amounting to $4.745 billion, which it will use as part of its future $37 billion investment in chip facilities in Texas, including the construction of two advanced logic factories and a research and development center in Taylor, as well as an expansion of its Austin plant. Originally, the company was set to receive $6.4 billion. According to a statement reported by Bloomberg, Samsung has partially adjusted its medium- to long-term investment plan to optimize investment efficiency, suggesting it has scaled back the scope of its projects.
On its part, Texas Instruments will receive $1.61 billion to complement its $18 billion investment in initiatives that include the construction of two wafer factories in Texas and a third one in Utah. Additionally, the Department of Commerce also announced other smaller allocations this week, such as $407 million for Amkor Technology, a U.S. company involved in chip testing and packaging for brands like Apple.
These three awards were announced earlier this year, starting with Samsung in April, and add to other CHIPS Act grants given to companies like Micron, Intel, and TSMC. The completion of these funds comes just under a month before Donald Trump assumes the presidency of the United States on January 20, who has criticized the CHIPS Act.
