The Biden administration plans to announce it is awarding more than $6 billion to South Korea's Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said.
The Biden administration plans to announce it is awarding more than $6 billion to South Korea's Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said.
It will also include an investment in another undisclosed location, the source said, adding that Samsung will more than double its U.S. investment to over $44 billion as part of the deal.
Texas Governor Greg Abbott's office did not respond to requests for comment.
One of the sources said it would be the third largest of the program, just behind Taiwan's TSMC , which was awarded $6.6 billion on Monday and agreed to expand its investment by $25 billion to $65 billion and to add a third Arizona factory by 2030.
Persons:
Biden, Gina Raimondo, Greg Abbott's, Taiwan's
Organizations:
Biden, South, Samsung, Commerce, Commerce Department
Locations:
Taylor , Texas, U.S, Taylor, Texas, Arizona