The U.S. Department of Commerce has announced a significant investment in Samsung Electronics, providing up to $4.745 billion in direct funding under the Chip Incentive Program. This financial support is aimed at bolstering Samsung's plans to invest over $37 billion in Texas over the coming years. The investment will transform Samsung's existing facilities in central Texas into a comprehensive ecosystem for chip development and production in the U.S.
The expansion includes the construction of two new logic wafer plants and a research and development wafer plant, along with the enlargement of its current facilities in Austin. This move is part of a broader strategy to enhance domestic chip manufacturing capabilities.
