Texas Instruments is the latest company to receive government funding under the CHIPS Act to establish chip manufacturing facilities in the country. TI, as it is commonly known, has secured direct funding of approximately $1.6 billion along with tax credits and credits adding up to 6-8 billion dollars.
The funds obtained will be utilized for the construction of three 300mm wafer fabs that are currently under development in the states of Texas and Utah. According to TI, these three facilities are expected to create around 2,000 job opportunities, with an additional $10 million in funding for workforce skill development.
Source: Texas Instruments
TLDR: Texas Instruments secures government funding to build chip manufacturing facilities, creating job opportunities and investing in workforce skill development.
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