Samsung, Texas Instruments Finalize Chips Act Awards Deals
- Incentives will go toward new factories in Texas and Utah
- Biden administration is racing to complete federal grants
This article is for subscribers only.
Samsung Electronics Co. and Texas Instruments Inc. completed final agreements to get billions of dollars of government support for new semiconductor plants in the US, cementing a major piece of the Biden administration’s Chips Act initiative.
Under binding agreements unveiled Friday, Samsung will get as much as $4.75 billion in funding and Texas Instruments stands to receive $1.6 billion — money that will help them build facilities in Texas and Utah. The final deals mean the chipmakers can begin collecting the funding when their projects hit certain benchmarks.