Samsung Has Secured 6 Billion Dollars in Grants for Chip Production

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.

Josh Alba
Josh Alba
Josh Alba stands at the forefront of contemporary business journalism, his words weaving narratives that illuminate the intricate workings of the corporate world. With a keen eye for detail and a penchant for uncovering the underlying stories behind financial trends, Josh has established himself as a trusted authority in business writing. Drawing from his wealth of experience and relentless pursuit of truth, Josh delivers insights that resonate with readers across industries.
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