USA grants billions of dollars to Samsung! Here’s why…

Samsung will receive a $6.4 billion direct fund from the U.S. government to expand its chip manufacturing facilities in Texas. This funding is part of the U.S. CHIPS and Science Act and will support the construction of a new chip manufacturing center in Taylor, Texas, as well as the expansion of the existing facility in Austin.

Samsung to receive $6.4 billion U.S. fund support for Texas chip manufacturing facilities

Samsung plans to use these funds as part of the $44 billion total investment it intends to make in its Texas facilities. The company will seek an investment tax credit from the Treasury Department that could cover up to 25% of investment expenditures.

These investments will include the development and production of advanced chips, research and development activities, and the establishment of an advanced packaging facility in Texas. With these investments, it is expected that the U.S. will reach a 20% share of the global advanced logic chips production by the end of this decade.

Kye Hyun Kyung, President and CEO of Samsung Device Solutions Division, stated that this expansion aims to position the U.S. as a global semiconductor production destination. He also mentioned that the facilities will be equipped with the latest process technologies for future products, such as artificial intelligence chips, to meet the demands from U.S. customers.

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This strategic move highlights Samsung’s efforts to strengthen the semiconductor ecosystem in the U.S. and remain competitive in the global market. It is also expected to significantly contribute to advancing the U.S.’s semiconductor supply chain security.

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