US awards Samsung $6.4 billion in grants to boost Texas chip output

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The Biden administration will award up to $6.4 billion in grants to Samsung to expand its chip production in central Texas. The funding will support two chip production facilities, a research center, and a packaging facility in Taylor, Texas. It will also enable Samsung to expand its Austin, Texas, semiconductor facility. The goal is to boost chip output for the aerospace, defense, and auto industries, reduce reliance on China and Taiwan, and bolster national security. Samsung expects to begin production in 2026 and is expected to invest roughly $45 billion in building and expanding its Texas facilities through the end of the decade.

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https://finance.yahoo.com/news/us-award-samsung-6-4-090115702.html