The Biden administration has agreed to provide $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas. The funding is part of a larger investment that is expected to exceed $40 billion and aims to revive domestic production of advanced computer chips.
The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas The White House is seen as dusk falls, Sunday, April 14, 2024, in Washington. The Biden administration has reached an agreement to provide up to $6.
Raimondo said she expects the project will create at least 17,000 construction jobs and more than 4,500 manufacturing jobs. The first factory would begin production in 2026, with the second starting in 2027, according to the government.Lael Brainard, director of the White House National Economic Council, said Samsung will be able to manufacture chips in Austin directly for the Defense Department as a result. Access to advanced technology has become a major national security concern amid competition between the U.S. and China.
Biden Administration Funding Samsung Electronics Computer Chip Manufacturing Research Cluster Texas Investment CHIPS And Science Act Advanced Computer Chips
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Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in TexasThe Biden administration has agreed to provide up to $6.4 billion in direct funding for Samsung Electronics to develop computer chip manufacturing in Texas.
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Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in TexasThe Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.
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Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in TexasThe Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.
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Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in TexasThe Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.
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