The U.S. Department of Commerce on Friday announced awards to Samsung, Texas Instruments, and Amkor Technology under the CHIPS incentive program, totaling more than $6.75 billion. The program aims to support the expansion of domestic semiconductor production. Samsung received up to $4.745 billion in direct funding, which is smaller than the up to $6.4 billion in contingency funding announced earlier this year, while Texas Instruments received up to $1.61 billion. , Amkor was awarded up to $407 million.
According to the DOC, Samsung plans to invest $37 billion over the next few years to strengthen chip development and production in the United States. The company plans to expand its operations in Texas to include two new production facilities and a facility for research and development. The company also plans to expand its existing facility in Austin. Texas Instruments is working on building three new facilities (two in Texas and one in Utah). It is said that they will invest more than $18 billion by 2029. Amkor plans to invest $2 billion to build an advanced packaging and testing facility in Peoria, Arizona. . According to Reuters, it will be the largest facility of its kind in Japan.
The Commerce Department says awards are given when companies complete specific project milestones. We expect this funding to support the creation of thousands of jobs per project.
