The US finalizes CHIPS Act funding for Samsung and Texas Instruments

Awarded by the U.S. Department of Commerce samsung and texas instruments Two announcements released Friday say the total amount of “direct funding under the CHIPS Incentive Program Commercial Manufacturing Financing Opportunity” will exceed $6 billion.

Samsung will win the larger of the two awards, worth $4.745 billion. of The Department of Commerce says The company plans to use this as part of its $37 billion planned investment in Texas chip facilities, which includes two new “state-of-the-art logic fabs and an R&D fab” in Taylor, Texas, and a factory expansion in Austin. .

The company was originally scheduled to receive $6.4 billion. in a statement reported by bloombergAccording to the report, the company said it has “made some revisions to its medium- to long-term investment plans to optimize overall investment efficiency,” which suggests that the company has scaled back its plans. That’s what it means.

Texas Instruments to receive $1.61 billion to boost $18 billion in funding plan to spend Projects include building two wafer fabs in Texas and a third in Utah. Ministry of Commerce announced This week also includes a number of smaller awards, including $407 million in funding for Amkor Technology, a U.S.-based company that tests and packages chips for companies like Apple.

All three awards were announced earlier this year, and Samsung will be the first to win in April, joining other CHIPS Act funding grants given to companies such as Micron, Intel, and TSMC. Donald Trump, who has criticized the CHIPS Act, will be inaugurated as President of the United States on January 20, with less than a month left until the final decision is made.