US awards Samsung $6.4b chips grant for Texas project
US Department of Commerce will award $6.4 billion in grants to South Korea’s Samsung to expand chip production in central Texas, according to a statement by the White House on Monday.
The move is part of Biden administration’s broader effort to boost the country’s chipmaking manufacturing, as outlined in the 2022 Chips and Science Act.
The funding aims to enhance chip production for the aerospace, defence, and auto industries, ultimately bolstering national security.
White House National Economic Adviser Lael Brainard emphasised that bringing leading-edge chip manufacturing back to America is a significant milestone for the semiconductor industry.
Samsung’s investment, expected to reach approximately $45 billion, will support two chip production facilities, a research centre, and a packaging facility in Austin, Texas.
The US aims to regain global leadership in semiconductor design, manufacturing, advanced packaging, and research and development, reducing reliance on China and Taiwan.
