US Finalizes Up to $6.75 Billion in Chips Awards
upstart writes:
US finalizes up to $6.75 billion in chips awards for Samsung, Texas Instruments, Amkor:
The U.S. Commerce Department said on Friday it was finalizing an award of up to $4.745 billion to South Korea's Samsung Electronics and up to $1.61 billion for Texas Instruments to expand chip production.
The department also finalized an award of up to $407 million to help fund Amkor Technology's planned $2 billion advanced semiconductor packaging facility in Arizona, which is set to be the largest of its kind in the U.S.
The Samsung award is about $1.7 billion smaller than the preliminary award announced in April of up to $6.4 billion and reflects its revised smaller investment plans, the department said.
A Commerce spokesperson said the department "changed this award to align with market conditions and the scope of the investment the company is making."
[...] Texas Instruments has pledged to invest more than $18 billion through 2029 in two new factories in Texas and one in Utah, which are expected to create 2,000 manufacturing jobs. The company is getting $900 million for its Texas operations and $700 million.
Amkor's Arizona plant when fully operational will pet a nearby Taiwanese chipmaker TSMC facility.
Amkor CEO Giel Rutten said the facility "will serve as a critical cornerstone in establishing a robust semiconductor manufacturing supply chain within the United States."
Congress in August 2022 approved a $39 billion subsidy program for U.S. semiconductor manufacturing and related components along with $75 billion in government lending authority.
Last month, Commerce finalized an award of up to $7.86 billion for Intel down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.
Commerce has now finalized the largest awards it offered earlier this year, including this week, finalizing up to $458 million for SK Hynix in Indiana. In total, Commerce has finalized over $33 billion of the over $36 billion in proposed incentives funding.
"With this investment in Samsung, the U.S. is now officially the only country on the planet that is home to all five leading-edge semiconductor manufacturers," said Commerce Secretary Gina Raimondo.
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