"Samsung Receives $6.4 Billion Grant for Texas Chip Production"
TL;DR
The Biden administration has agreed to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas, as part of a larger investment expected to exceed $40 billion. This move aligns with the CHIPS and Science Act signed into law by President Biden to revive domestic production of advanced computer chips, aiming to produce 20% of the world's leading edge chips in the United States by the end of the decade. The project is expected to create thousands of jobs and enhance national security, with Samsung's cluster in Taylor, Texas, set to include two chip factories and a research and development facility.
Topics:top-newstechnology#biden-administration#computer-chips#samsung#semiconductor#technology#texas
- Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in Texas CNBC
- Samsung Electronics Gets $6.4 Billion for Texas Chip Plants The Wall Street Journal
- U.S. Awards Samsung $6.4 Billion to Bolster Semiconductor Production The New York Times
- US to award Samsung $6.4 bln in grants for Texas chip production complex Reuters
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