Loading...
Market
Story
Samsung Gets $6.4B from Biden for Texas Chip Plants, Plans $40B Investment
Apr 15, 2024, 09:30 AM
The Biden administration has committed to providing up to $6.4 billion in grants to Samsung Electronics for the expansion of semiconductor manufacturing in Texas. This funding, part of the CHIPS Act, is aimed at bolstering U.S. chip production capabilities. Samsung plans to invest an additional $40 billion in the region, which includes constructing two new foundry fabrication plants in Austin, Texas. These facilities are expected to produce 2 nanometer and 4 nanometer logic chips. The initiative is projected to create at least 21,500 jobs and includes a $40 million investment in local workforce training. Additionally, the project will benefit from a 25% investment tax credit and aims to start producing 2nm chips by 2026.
View original story
Similar markets
Significantly positive impact • 25%
Moderately positive impact • 25%
Neutral impact • 25%
Negative impact • 25%
Texas • 40%
California • 30%
Arizona • 15%
Other • 15%
Under 10,000 jobs • 33%
10,000 to 20,000 jobs • 33%
Over 20,000 jobs • 34%
Artificial Intelligence • 25%
Quantum Computing • 25%
Energy-efficient computing • 25%
Advanced communication networks • 25%
2nm chips • 33%
4nm chips • 33%
Both equally • 34%
Less than 10,000 • 25%
10,000 to 15,000 • 25%
15,001 to 21,500 • 25%
More than 21,500 • 25%