DOC finalizes $7 billion semiconductor awards to Samsung, Texas Instruments and Amkor

On Friday the US Department of Commerce announced its awards to Samsung, Texas Instruments and Amkor Technology under the CHIPS Incentives Program, totaling more than $6.75 billion. This program is intended to help increase domestic semiconductor production. Samsung was awarded up to $4.745 billion – less than what was announced earlier this year – with $1.61 billion and Amkor up to $407 million.

Samsung plans to invest $37 billion over the next few years to boost chip development and production in the US, the DOC said. The company will expand its operations in Texas to include two new manufacturing facilities and a research and development center. It also plans to expand its existing location in Austin. Texas Instruments is working to build three new facilities – two in Texas and one in Utah – said to invest more than 18 billion dollars until 2029. Amkor is planning a $2 billion investment to build an advanced packaging and testing facility in Peoria, Arizona. . In accordance with it will be the world’s largest site of its kind.

The Department of Commerce says the awards will be withdrawn as companies complete certain projects. It expects the funding to support the creation of thousands of jobs per project.