US to award Samsung up to $6.6 billion chip subsidy for Texas expansion, sources say
© Reuters. FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji/File PhotoWASHINGTON -The Biden administration plans to announce it is awarding more than $6 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 and Samsung declined to comment. Texas Governor Greg Abbott's office did not respond to requests for comment. Congress in 2022 approved the Chips and Science Act to boost domestic semiconductor output with $52.7 billion in research and manufacturing subsidies. Lawmakers also approved $75 billion in government loan authority, but one of the sources said Samsung plans to take no loans.
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