US to provide Samsung with up to $6.6 billion chip subsidy for Texas expansion

The US government is expected to award $6.6 billion in subsidies from CHIPS Act to Samsung to expand its chip output in Taylor, Texas, USA.

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Samsung is expected to be awarded more than $6 billion from the Biden administration and the US government's huge CHIPS Act, to expand its chip output at its Taylor, Texas-based facility, and more.

US to provide Samsung with up to $6.6 billion chip subsidy for Texas expansion 202

In a new report from Reuters, we're to expect that the $6 billion+ subsidy will be unveiled by US Commerce Department Secretary Gina Raimondo, with the funding to go into the construction of four facilities in Taylor. One of these facilities is a new $17 billion chipmaking plant that Samsung originally announced in 2021, while another advanced packaging facility makes up another factory, and the third will be a new research and development (R&D) center.

Reuters adds that these billions of dollars from the US government and into Samsung's coffers will be used as an investment in "another disclosed location," according to the sources. As part of this new deal, Samsung will more than double its investments in the United States to over $44 billion.

One of the sources said that this would be the third-largest CHIPS Act program, only just behind TSMC, which was just awarded $6.6 billion on Monday. This will see the Taiwan semiconductor giant expand its investments by $25 billion to a whopping $60 billion, adding a third factory in Arizona by 2030 that will make 2nm nanosheet tech.

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NEWS SOURCE:reuters.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.

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