Category: Tech News

The US Department of Commerce on Friday announced its awards for Samsung, Texas Instruments and Amkor Technology under the CHIPS Incentives Program, which come to more than $6.75 billion altogether. The program is meant to help expand domestic semiconductor production. Samsung was awarded up to $4.745 billion in direct funding — a smaller amount than the preliminary award of up to $6.4 billion that was announced earlier this year — while Texas Instruments was granted up to $1.61 billion and Amkor up to $407 million.

Samsung plans to invest $37 billion over the next few years to ramp up chip development and production in the US, the DOC said. The company will expand its operations in Texas to include two new production facilities and a site for research and development. It also plans to expand an existing facility in Austin. Texas Instruments is working to build three new facilities — two in Texas and one in Utah — which it’s said it will invest over $18 billion in through 2029. Amkor is planning a $2 billion investment to create an advanced packaging and test facility in Peoria, Arizona. According to Reuters, it’ll be the country’s largest facility of its kind.

The Commerce Department says the awards will be doled out as the companies complete certain project milestones. It expects the funding to support the creation of thousands of jobs per project.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/doc-finalizes-semiconductor-awards-totaling-nearly-7-billion-for-samsung-texas-instruments-and-amkor-235749200.html?src=rss