Samsung to get $6-7 billion in chip subsidy next week for Texas expansion
Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said.
The subsidy, which will be unveiled by Commerce Department Secretary Gina Raimondo, will go towards construction of four facilities in Taylor, including one $17 billion chipmaking plant that Samsung announced in 2021, another factory, an advanced packaging facility and a research and development center, one of the sources said.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIt will also include an investment in another undisclosed location, the source said, adding that Samsung will more than double its U.S. investment to over $44 billion as part of the deal.
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The Commerce Department declined to comment. Samsung and Texas Governor Greg Abbott's office did not immediately respond to requests for comment.
One of the sources said it would be the third largest of the program, just behind Taiwan's TSMC, which was awarded $6.6 billion on Monday and agreed to expand its investment by $25 billion to $65 billion and to add a third Arizona factory by 2030.
The announcement caps off a string of major Chips and Science grants in quick succession as the U.S. seeks to expand domestic chip production and lure away capital that might have been used to build
