The US Department of Commerce has granted Samsung and Texas Instruments with a combined total of more than $6 billion in “direct funding under the CHIPS Incentive Program Commercial Manufacturing Financing Opportunity,” according to a pair of announcements released Friday.
Samsung will take home the largest of the two prizes: $4.745 million. He Department of Commerce says The company will use this as part of its planned $37 billion investment in chip facilities in Texas that include two new “state-of-the-art logic factories and a research and development factory” in Taylor, Texas, and the expansion of its plant in Austin.
The company was originally scheduled to receive $6.4 billion. in a statement reported by BloombergThe company said its “medium and long-term investment plan has been partially revised to optimize overall investment efficiency,” suggesting the company has backtracked on its plans, according to the outlet.
Texas Instruments will receive $1.61 billion to reinforce the $18 billion it plan to spend in projects such as the construction of two wafer factories in Texas and a third in Utah. The Department of Commerce announced Smaller awards also this week, including $407 million in funding for Amkor technology, a US-based company that tests and packages chips for companies like Apple.
The three awards were announced earlier this year, with Samsung being the first in April, and join other CHIPS Act funding grants awarded to companies such as Micron, Intel and TSMC. And their finalizations come with just under a month left before Donald Trump, who has criticized the CHIPS Act, assumes the presidency of the United States on January 20.
