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Samsung awarded $6.4 billion CHIPS Act grant to build 'semiconductor ecosystem' in Texas
The Biden administration has awarded Samsung up to $6.4 billion in grants as part of CHIPS Act funding. This will help the company build out various factories in Texas.
This money will be spent to finish a “leading-edge” campus in Taylor, Texas that will focus on research and development of advanced logic technologies, manufacturing and, perhaps most importantly, packaging. The company plans on spending this money in Malta, New York to build a new fabrication facility that manufactures chips for the automotive, aerospace, defense and AI industries. President Biden signed the CHIPS and Science Act into law back in 2022 to encourage domestic semiconductor research and manufacturing in order to lessen America's reliance on Chinese suppliers.
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