Samsung and Texas Instruments Receive Over $6 Billion from CHIPS Act

The US Commerce Department has finalized over $6 billion in funding for Samsung and Texas Instruments under the CHIPS Act.

This funding is part of the CHIPS Incentives Program, which aims to boost US semiconductor production.

Samsung will receive $4.745 billion. The company plans to use this money for its $37 billion investment in chip facilities in Texas.

This includes two new logic fabs and an R&D fab in Taylor, Texas, along with expanding its plant in Austin. Samsung had originally expected $6.4 billion, but the company revised its investment plans to optimize efficiency.

Texas Instruments will get $1.61 billion to support its $18 billion investment in new semiconductor projects. These projects include building two wafer fabs in Texas and a third in Utah.

The US Commerce Department also announced smaller funding grants this week. Amkor Technology, a US-based chip testing company, received $407 million.

These finalizations come just weeks before Donald Trump, who has criticized the CHIPS Act, becomes the US President again on January 20th.