Samsung to more than double semiconductor investment in Texas: WSJ
A man walks past the Samsung logo displayed on a glass door at the company's Seocho building in Seoul, April 5. AFP-Yonhap
Samsung Electronics plans to more than double its total semiconductor investment in Texas to about $44 billion, The Wall Street Journal reported Friday, as the Korean chipmaker is expected to win grants under a U.S. initiative to strengthen domestic chip production.
Citing people familiar with the issue, the newspaper said that Samsung is expected to announce its investment plan in Taylor, Texas, April 15. In November 2021, the tech giant announced a plan to build a $17 billion chipmaking factory in the city.
Samsung's new spending will be centered in Taylor, with the new additions including a new chip-making factory, and a facility for advanced packaging and research and development, according to the daily.
The report came amid expectations that Samsung will receive grants under the 2022 CHIPS Act that sets aside $39 billion in incentives meant to encourage chipmakers to build, expand or modernize semiconductor facilities in the United States.
The Commerce Department plans to invest about $28 billion of the $39 billion fund for leading-edge chipmakers such as Samsung and Taiwan Semiconductor Manufacturing.
Intel, GlobalFoundries, the American subsidiary of BAE Systems and Microchip Technology have so far been selected as beneficiaries for CHIPS Act grants. (Yonhap)