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The US Department of Commerce awarded Samsung and Texas Instruments with a combined more than $6 billion in “direct funding under the CHIPS Commercial Manufacturing Incentive Program Funding Opportunity,” according to a pair of announcements released Friday.
Samsung will receive the larger of the two awards at $4.745 billion. U Department of Commerce says the company will use this as part of its planned $37 billion investment in Texas chip facilities that include two new “state-of-the-art logic fabs and an R&D fab” in Taylor, Texas, and the expansion of its plant in Austin.
The company was initially expected to receive $6.4 billion. In a statement reported by BloombergThe company said its “mid-to-long-term investment plan has been partially revised to optimize overall investment efficiency,” which suggests the company has scaled back its plans, according to the outlet.
Texas Instruments will receive $1.61 billion to replenish the $18 billion spending plans on projects such as the construction of two wafer fabs in Texas and a third in Utah. The Department of Commerce announced smaller awards also this week, including $407 million in funding for Amkor Technology, a US-based company that tests and packages chips. for companies like Apple.
All three awards were announced earlier this year, with Samsung first in April, and join other CHIPS Act funding grants given to companies such as Micron, Intel and TSMC. And their finalization comes with just under a month before Donald Trump, who has criticized the CHIPS Act, assumes the Presidency of the United States on January 20.
