US To Award Samsung Up To $6.6 Billion Chip Subsidy For Texas Expansion

The Biden administration plans to announce it is awarding more than $6 billion to South Korea's Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., Reuters reported Tuesday, citing sources. From the report: The subsidy, which will be unveiled by Commerce Department Secretary Gina Raimondo, will go toward construction of four facilities in Taylor, including one $17 billion chipmaking plant that Samsung announced in 2021, another factory, an advanced packaging facility and a research and development center, one of the sources said. It will also include an investment in another undisclosed location, the source said, adding that Samsung will more than double its U.S. investment to over $44 billion as part of the deal. One of the sources said it would be the third largest of the program, just behind Taiwan's TSMC, which was awarded $6.6 billion on Monday and agreed to expand its investment by $25 billion to $65 billion and to add a third Arizona factory by 2030.

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