Samsung Gets $6.4B from Biden for 2nm and 4nm Texas Chip Plants by 2026

Apr 15, 2024, 10:04 AM

The Biden administration has announced a substantial investment in semiconductor manufacturing by awarding Samsung up to $6.4 billion in grants under the CHIPS Act. This funding is aimed at expanding Samsung's chip production facilities in Texas, specifically in Taylor and Austin. The initiative is part of a broader effort to strengthen the U.S. semiconductor industry and reduce dependence on foreign chip production. Samsung plans to utilize this investment to develop advanced 2nm and 4nm logic chips, with the goal of starting production by 2026 and incorporating 2.5D packaging technology. This move is expected to create at least 21,500 jobs and includes a total private sector investment from Samsung amounting to over $40 billion. Additionally, the project will benefit from a 25% investment tax credit and leverage $40 million in CHIPS funding to train the local workforce.