Samsung Secures $6.4B In US Funding To Build Massive Chip Fabs In Texas

The Biden administration has agreed to grant $6.4 billion in direct funding to Samsung as part of the CHIPS and Science Act, which in part will go towards an advanced semiconductor facility in Texas. The investment is part of a broader effort to "restore US leadership in semiconductor manufacturing." It will also cement central Texas as a state-of-the art semiconductor ecosystem, President Joe Biden said in a statement.

Texas is already a hotbed for chip manufacturing. Samsung points out that it's invested $18 billion since 1996 towards operating a pair of fabs at its Austin, Texas campus. More recently (in 2021), Samsung announced an expansion in Taylor to construct a new manufacturing facility, which will entail at least $17 billion in additional investments.

Now with the CHIPS Act funding in play, Samsung is set to invest over $40 billion to further expand in central Texas. At present, Samsung ...