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Will Texas Instruments receive the full $1.6 billion in direct funding from the U.S. Commerce Department by the end of 2024?
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Official announcements from the U.S. Commerce Department or Texas Instruments
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Biden Administration to Fund Texas Instruments' Texas and Utah Chip Expansion with $1.6B Grant and $3B Loan
Aug 16, 2024, 09:16 AM
The Biden-Harris administration has announced preliminary terms with Texas Instruments to expand the company's current-generation and mature-node chip capacity in the United States. The U.S. Commerce Department's CHIPS Program Office plans to provide Texas Instruments with up to $1.6 billion in direct funding and approximately $3 billion in proposed loans. This initiative is part of the CHIPS Act, aimed at bolstering the domestic semiconductor industry. The funding will support Texas Instruments' semiconductor manufacturing operations in Texas and Utah, with additional benefits expected from $6-8 billion in tax credits.
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