News IT business 04-05-2024 at 15:10 comment views icon

Samsung invests $44 billion (instead of $17 billion) in chip production in Texas

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Vadym Karpus

News writer

Samsung Electronics plans to increase its investment in chip manufacturing in Texas to about $44 billion. This was reported by knowledgeable sources.

The company will focus most of this new spending around the city of Taylor, where it is already building a semiconductor chip plant near its existing operations. Samsung is now planning to build another chip plant and a modern packaging center.

If the situation develops in this way, it will be another proof of the effectiveness of the Biden administration’s policy of using incentives and political support to encourage global chipmakers to build production facilities in the United States. In March, it was reported that Washington plans to allocate more than $6 billion to Samsung to help it expand its operations in Texas beyond the original project.

In 2021, Samsung Electronics announced a $17 billion project in Taylornear the existing plant in Austin. Now, if the information is confirmed, the investment will amount to $44 billion.

Source: bloomberg

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