Samsung close to securing $6 billion grant for chip plant in Texas
As reported by Reuters, Samsung is likely to be granted $6 billion by the US government to expand its chip-making factories within the country. This grant is part of the CHIPS and Science Act, which allocates over $280 billion to enhance semiconductor research and manufacturing in the US.
Samsung is currently constructing its chip manufacturing plant in Taylor, Texas, which is projected to be operational later this year with 2,000 employees. The estimated cost of the fab was initially around $17 billion but has reportedly escalated to over $25 billion based on the latest assessments. Additionally, Samsung already operates a chip manufacturing plant in Austin, Texas, where it houses its semiconductor headquarters.
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