Technology

Samsung close to securing $6 billion grant for chip plant in Texas

According to a new report from Reuters, Samsung may soon receive a $6 billion grant from the US government to expand its chip-making factories stateside. The new grant will be part of the CHIPS and Science Act which authorizes over $280 billion in funding to boost semiconductor research and manufacturing in the US.

Samsung new chip plant site in Taylor, Texas

Samsung new chip plant site in Taylor, Texas

Samsung is currently building its chip manufacturing plant in Taylor, Texas which is expected to be operational later this year with 2,000 employees. The fab was initially expected to cost around $17 billion but costs have reportedly risen above $25 billion as per the latest estimates. Samsung already has a chip manufacturing plant in Austin, Texas where it also boasts its semiconductor headquarters.

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