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Texas Instruments on track to secure $1.6 billion in CHIPS Act funds to build three new wafer fabs | The facilities will be in Texas and Utah
In a move aimed at bolstering the US' semiconductor manufacturing capabilities, Texas Instruments and the US Department of Commerce have signed a preliminary agreement outlining potential terms...
Why it matters: When the pandemic rolled through the global economy four years ago, it became clear to US officials that they had let its domestic semiconductor manufacturing capabilities deteriorate to dangerous levels. In a move aimed at bolstering the US' semiconductor manufacturing capabilities, Texas Instruments and the US Department of Commerce have signed a preliminary agreement outlining potential terms for up to $1.6 billion in proposed direct funding under the CHIPS and Science Act. For instance, the US automotive industry faced production halts and furloughs due to chip shortages, contributing to a sharp rise in vehicle prices and impacting the overall economy.
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