Samsung to Invest $44 Billion in Texas for 2nm Chips by 2026, Gets $6.4 Billion U.S. Grant

Apr 15, 2024, 09:08 AM

Samsung Electronics is set to significantly expand its operations in the U.S. with a new $44 billion investment in chip manufacturing. The investment will be used to construct a new facility, research and development space, and a packaging site in Taylor, Texas, alongside Commerce Secretary Gina Raimondo. This move doubles down on Samsung's previous $20 billion investment in 2021. Additionally, the U.S. government, under the Biden administration, has agreed to provide up to $6.4 billion in grants to support this expansion. The funding is part of the CHIPS Act, aimed at boosting domestic semiconductor production. Samsung plans to start producing 2nm chips at this facility by 2026, which is two years ahead of its competitor TSMC.