The United States government has announced a preliminary agreement to provide funding to Samsung Electronics up to a maximum of $6.4 billion to support the establishment of chip manufacturing facilities in Texas. This funding supports the latest chip manufacturing companies under the CHIPS Act legislation.
Samsung will utilize this funding to build a factory in Taylor, as reported previously. The total project entails an investment of approximately $45 billion and is expected to create around 17,000 construction jobs and 4,500 manufacturing jobs.
The new facility will accommodate both 4-nanometer and 2-nanometer chip technology production lines, with production expected to commence in 2026 and 2027.
Previously, the US government provided funding under the CHIPS Act legislation to TSMC and Intel.
Source: The Wall Street Journal
TLDR: The US government is providing funding to Samsung Electronics for chip manufacturing facilities in Texas, under the CHIPS Act, to boost the economy and create jobs.
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