Amkor Signs $600M CHIPS Act Agreement with U.S. for Arizona Chip Facility

Jul 26, 2024, 10:40 AM

Amkor Technology has signed a nonbinding preliminary memorandum of terms with the U.S. Department of Commerce to establish an advanced packaging and test facility in Arizona. The agreement, part of the CHIPS Act, includes up to $400 million in grants and $200 million in loans, totaling $600 million. This initiative aims to boost the U.S.'s chip packaging capacity, which was only 2% of the global capacity as of 2019, compared to China's 38%.