The US finalizes CHIPS Act funding for Samsung and Texas Instruments

Awarded by the U.S. Department of Commerce Samsung and Texas Instruments The CHIPS Incentive Program’s Commercial Manufacturing Financing Opportunities totaled more than $6 billion in direct funding, according to two announcements on Friday.

Samsung will receive the larger of the two awards, worth $4.745 billion. this Ministry of Commerce stated The company will use the funds as part of its planned $37 billion investment in Texas wafer facilities, including two new “leading edge logic fabs and an R&D fab” in Tyler, Texas, as well as in Austin Factory expansion.

The company initially expected to receive $6.4 billion. in a statement Reporter BloombergThe company said it had “partially revised its mid- to long-term investment plan to optimize overall investment efficiency,” indicating that it had adjusted its plans, the outlet reported.

Texas Instruments to receive $1.61 billion to bolster its $18 billion expansion Planned spending Construction of two wafer fabs in Texas and a third wafer fab in Utah are among other projects. Ministry of Commerce declare There were also smaller awards this week, including $407 million in funding for U.S. wafer testing and packaging company Amkor Technology For a company like Apple.

All three awards were announced earlier this year, with Samsung being the first in April, and they join other CHIPS Act funding programs for companies such as Micron, Intel and TSMC. There is less than a month until Donald Trump, a critic of the CHIPS Act, takes office as president of the United States on January 20.