Samsung to Receive $6.4 Billion in CHIPS Act Funding

Samsung has now joined Intel and TSMC in receiving billions in US government subsidies to boost its American semiconductor business. The company is the last of the big three chip fabs to get a direct deposit from Uncle Sam, and the number is $6.4 billion in direct funding. The disbursement of funds was rumored to be happening today, so it is now confirmed.

The Biden administration announced Samsung's funding today via a conference call with White House officials and Commerce Secretary Gina Raimondo, according to Reuters. The infusion of cash will assist the company with building two new facilities in Texas; a research center and a packaging plant. The company will also use the money to expand its existing site just east of Austin, in Taylor.

The CHIPS Act funding will reportedly help Samsung begin producing 2nm wafers at its Taylor facility by 2026. This could give it ...