The Biden administration plans to provide a subsidy of $6-7 billion to Samsung in order to expand its chip output in Taylor, Texas. The subsidy will go towards the construction of four facilities, including a $17 billion chipmaking plant, another factory, an advanced packaging facility, and a research and development center. Samsung will also increase its U.S. investment to over $44 billion as part of the deal.
The Biden administration plans to announce it is awarding between $6 billion and $7 billion to South Korea's Samsung next week to expand its chip output in Taylor, Texas , as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said.
The Commerce Department declined to comment. Samsung and Texas Governor Greg Abbott's office did not immediately respond to requests for comment. The announcement caps off a string of major Chips and Science grants in quick succession as the U.S. seeks to expand domestic chip production and lure away capital that might have been used to build plants in China and the region.
The CHIPS Act's goal is to reduce reliance on China and Taiwan, as the share of global semiconductor manufacturing capacity in the U.S. has fallen from 37% in 1990 to 12% in 2020, according to the Semiconductor Industry Association.
Biden Administration Samsung Chip Expansion Texas Subsidy Facilities Investment
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