US CHIPS Act: Samsung gets $6.4 billion subsidy for Texas investment

Samsung will get a $6.4 billion subsidy under the US CHIPS Act for investment in Texas. Last week, it was revealed that the country will announce subsidies for semiconductor manufacturers. It has been revealed that Samsung’s subsidy ratio comes at 14.2 percent.

According to the info, Samsung will get a CHIPS Act subsidy of $6.4 billion for its $45 billion chip investment in Texas, USA. The country’s Commerce Department announced that Samsung is the recipient of the biggest grant under the CHIPS Act relative to the investment.

It’s worth noting that TSMC granted $6.6 billion for its $65 billion investment, putting the subsidy-to-investment ratio at 10.2 percent. Aimed to create at least 21,500 jobs, Samsung’s investment cements central Texas’ role as a cutting-edge semiconductor ecosystem.

“I’m pleased to announce a preliminary agreement between Samsung and the Department of Commerce to bring Samsung’s advanced semiconductor manufacturing and research and development to Texas,” said President Joe Biden in a statement on Monday.

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