Samsung is doubling its semiconductor investment in Texas to $44 billion

It seems so is starting to bear fruit. Samsung plans to double its investment in Texas. . This will bring the total investment in the state’s chip manufacturing sector to $44 billion, as Samsung has already spent about $20 billion. .

The ambitious expansion will reportedly take the form of a new chip manufacturing facility, a packaging site and research and development space. All will be located in or near Taylor, Texas, because that’s where it’s located . The current production hub is not yet operational, but will start making “critical logic chips” later this year. For the geographically challenged, Taylor is about 40 minutes from Austin.

If this actually happens, it will be a huge victory for the Biden administration. Finally, one of the main goals of the CHIPS Act is to attract global chip manufacturers to set up on US soil. To this end, Washington As an added incentive for Samsung to continue doing well in the US.

The CHIPS Act allowed the federal government to provide funding and offer loans to many technology companies to encourage domestic spending. In February, multinational semiconductor company GlobalFoundries In addition to the $1.6 billion loan, to help pay for the major expansion of the U.S. It plans to build a new manufacturing facility in Malta, New York, to produce chips for the automotive, aerospace, defense and artificial intelligence industries.

Recently Intel , raised up to $8.5 billion to continue its various operations in the United States. The current plan is for Intel to use the money to build factories that produce advanced semiconductor chips for use in artificial intelligence and other advanced applications. The company is building two new manufacturing facilities in Arizona and two in Ohio. In addition, it will use the money to modernize two existing fabs in New Mexico and expand a location in Oregon. All told, Intel will invest $100 billion in US chip manufacturing. The various projects are expected to create 20,000 construction and 10,000 manufacturing jobs.

The Biden administration signed the CHIPS and Science Act of 2022 to boost domestic semiconductor research and manufacturing and reduce America’s reliance on Chinese suppliers. It allocates $52 billion in tax credits and provides financing to firms to expand state manufacturing.

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