Biden Administration Awards $1.6B and $3B Loans to Texas Instruments for Chip Expansion

Aug 16, 2024, 09:35 AM

The Biden-Harris administration has announced preliminary terms with Texas Instruments to expand its current-generation and mature-node chip capacity in the United States. The U.S. Commerce Department's CHIPS Program Office plans to make about $3 billion in proposed loans available to Texas Instruments. Additionally, Texas Instruments is set to receive up to $1.6 billion in direct funding under the CHIPS Act. This funding will support the expansion of semiconductor manufacturing facilities, including two in Texas and one in Utah, with the expectation of $6-8 billion in tax credits. The initiative aims to bolster the domestic production of semiconductors, enhancing the geopolitical reliability of the U.S. chip supply chain.