. This will bring the total investment in the state’s chip-manufacturing sector to $44 billion, as Samsung already spent nearly $20 billion
The ambitious expansion will reportedly take the form of a new chip manufacturing facility, a packaging site and a research and development space. It’ll all be located in or near Taylor, Texas, as that’s where the. The current manufacturing hub isn’t operational yet, but will begin building “crucial logic chips” later this year. For the geographically challenged, Taylor is around a 40 minute drive from Austin.
If this actually happens, it’ll be a huge win for the Biden administration. One of the main goals of the CHIPS Act, after all, is to lure global chipmakers to build on US soil. To that end, WashingtonThe CHIPS Act has allowed the federal government to award funding and offer loans to many tech companies to encourage domestic spending. Back in February, the multinational semiconductor company GlobalFoundriesto help pay for a major US expansion, in addition to a $1.6 billion loan.
The Biden administration signed the CHIPS and Science Act into law back in 2022 to foster domestic semiconductor research and manufacturing and to lessen America’s reliance on Chinese suppliers. It sets aside $52 billion in tax credits and funding for firms to expand stateside production. This article contains affiliate links; if you click such a link and make a purchase, we may earn a commission.