What you should know
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- The U.S. awarded Samsung $6.4 billion under the CHIPS and Science Act to build a new semiconductor fabrication plant in Taylor, Texas, aiming to start producing 2nm chips by 2026.
- This funding is part of a broader effort to bolster the domestic semiconductor industry, with the new Samsung facility expected to generate over $40 billion in investment, create at least 21,500 jobs, and enhance the local semiconductor ecosystem in Texas.
- President Joe Biden highlighted the strategic importance of this initiative for advancing technologies like artificial intelligence and strengthening U.S. national security through the production of powerful chips.
- The CHIPS and Science Act has also benefited other major semiconductor manufacturers, including TSMC and Intel, indicating a significant push by the U.S. government to secure and enhance its semiconductor manufacturing capabilities.
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Full Story
The U.S. is on a mission. Yep, a big one. They’re all about beefing up the domestic semiconductor scene. Just this week, they threw a whopping $6.4 billion Samsung’s way. Why? To get a shiny new fab up and running in Taylor, Texas. The goal? Start churning out those super advanced 2nm chips by 2026.
So, there was this event. U.S. Secretary of Commerce Gina Raimondo and Samsung’s big boss of semiconductors, Kye Hyun Kyung, were there. They were the stars of the show. And guess what? Samsung even blogged about it. Kyung was all praises, talking up how this U.S. cash infusion is gonna boost production and jazz up the local semiconductor ecosystem right there in Texas.
Oh, and President Joe Biden had his say too. He’s stoked, to say the least. “I am pleased,” he starts, announcing this preliminary handshake between Samsung and the Department of Commerce. This deal? It’s a biggie. Over $40 billion big. And Texas, well, it’s about to become a semiconductor hotspot, creating over 21,500 jobs. Not to mention, there’s this sweet $40 million from CHIPS funding to skill up the local workforce.
Biden didn’t stop there. He’s talking up these facilities, saying they’ll pump out some of the world’s most powerful chips. We’re talking AI, national security – the works. And by the time the dust settles on this project, Samsung will have dropped $40 billion into this Texas foundry.
But wait, there’s more. This isn’t the first time the U.S. has played Santa with the CHIPS and Science Act. Nope. Samsung’s just the latest in line, after TSMC and Intel snagged their share. Kyung’s got visions of grandeur. He’s not just about expanding; he’s aiming to transform the U.S. into a global hub for semiconductor manufacturing. With an eye on the future, he’s talking AI chips and top-notch process technologies to keep the U.S. supply chain snug and secure.
The Semiconductor Industry Associate is on board too. They’re cheering from the sidelines, lauding today’s move as a win for bringing more semiconductor production, innovation, and jobs to American soil. They’re tipping their hats to Samsung for going big on U.S. manufacturing and giving a thumbs up to the Commerce Department for their strides with the CHIPS Act. It’s all about keeping the momentum going, ensuring the U.S. remains a powerhouse in chip manufacturing and research for the long haul.
