Samsung Set to Secure $6 Billion for Chip Investments in the US
This is not the first time Samsung will be securing funds from the US for investments in the country.
Samsung Electronics Corporation is set to be awarded $6 billion from the US government, which would see it build another chip manufacturing facility in the country beyond the chip project it is currently undertaking in Texas.
The funding comes as part of the $52 billion 2022 Chips and Science Act to boost domestic semiconductor research and manufacturing. Samsung’s Asian rivals, Taiwan Semiconductor Manufacturing Corporation and Intel are also expected to be awarded additional funding of $5 billion and $10 billion, respectively.
This is not the first time Samsung will be securing funds from the US for investments in the country as it was awarded $17 billion in 2021 for an investment project located in Taylor, Texas, close to an existing Samsung plant in Austin.
