The US Commerce Department
has awarded Samsung and Texas Instruments with a combined over $6 billion in “direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication,” according to a pair of announcements published on Friday. Samsung will get the larger of the two awards at $4.745 billion.
In a statement reported by Bloomberg, the company said that its “mid-to-long-term investment plan has been partially revised to optimize overall investment efficiency,” which suggests the company has dialed back its plans, according to the outlet. Texas Instruments will receive $1.61 billion to bolster the $18 billion it plans to spend on projects like constructing two wafer fabs in Texas and a third in Utah.
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