Samsung to Get Up to $6.4 Billion in US Grants for Chip Plants
- Company is expected to invest more than $40 billion in Texas
- South Korean maker isn’t tapping Chips Act’s loans, guarantees
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The Biden administration plans to award Samsung Electronics Co. as much as $6.4 billion in grants to increase chip production in Texas, as part of US efforts to bolster domestic semiconductor manufacturing.
The South Korean company plans to invest more than $40 billion overall, including in two foundry fabrication sites that will produce 4-nanometer and 2nm logic chips — one generation beyond the current state of the art. The massive project will encompass a research and development site, and an advanced chip packaging facility in Taylor, Texas, that will help produce high bandwidth memory chips, which are critical for artificial intelligence applications.