Samsung is poised to potentially receive a $6 billion grant from the US government to expand its chip-making facilities in the country, as per a new report from Reuters.
This grant would be part of the CHIPS and Science Act, a larger initiative that allocates over $280 billion in funding to enhance semiconductor research and manufacturing in the US.
The tech giant is currently in the process of constructing a new chip manufacturing plant in Taylor, Texas, which is slated to become operational later this year and is expected to employ 2,000 people.
Initially projected to cost approximately $17 billion, the construction expenses have reportedly surged to over $25 billion, according to the latest estimates. Samsung already operates a chip manufacturing plant in Austin, Texas, where it also houses its semiconductor headquarters.
