Samsung is building 40 billion dollars ecosystem in Texas, the US Biden-Harris Administration announced today.
According to the info, the U.S. Department of Commerce and Samsung Electronics (Samsung) have signed a non-binding preliminary memorandum of terms (PMT). This means also that Samsung has got up to $6.4 billion direct funding under the CHIPS and Science Act. The aim is to strengthen the resilience of the U.S. semiconductor supply chain, advance U.S. technology leadership, and fuel U.S. global competitiveness.
Samsung is on the other hand expected to invest more than $40 billion dollars in the region in the coming years, and the proposed investment would support the creation of over 20,000 jobs.
The proposed investment would turn Samsung’s existing presence in Texas into a comprehensive ecosystem for the development and production of leading-edge chips in the United States, including two new leading-edge logic fabs, an R&D fab, and an advanced packaging facility in Taylor, as well as an expansion to their existing Austin facility, the release says.
Because of investments like Samsung’s, the United States is projected to be on track to produce roughly 20% of the world’s leading-edge logic chips by 2030.
– I signed the CHIPS and Science Act to restore U.S. leadership in semiconductor manufacturing and ensure America’s consumers, businesses, and military maintain access to the chips that underpin our modern technology,” the President Joe Biden said in the release.
-The chips that Samsung will be making in Texas are important components to our most advanced technologies, from artificial intelligence to high-performance computing and 5G communications. With President Biden’s leadership and Samsung’s commitment to the U.S., this proposed funding advances America’s leadership in semiconductor manufacturing on the world stage, the US Department of Commerce stated.
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