South Korean tech giant Samsung Electronics Co (OTC:SSNLF) is set to announce a substantial $44 billion investment in U.S. chipmaking, possibly as early as next week.
What Happened: The world’s leading memory-chip manufacturer is anticipated to disclose the project in Taylor, Texas, in the presence of Commerce Secretary Gina Raimondo, reported Bloomberg, citing people familiar with the matter.
Samsung has obtained over $6 billion in U.S. government grants for the investment, which has ballooned to a total of $44 billion spread over several years.
This investment aligns with Washington’s larger strategy to repatriate semiconductor production to the U.S. The Biden administration is utilizing the 2022 Chips and Science Act to invigorate American chipmaking, which has seen production drift to Asia over the past decades.
The Chips Act, which earmarked $39 billion in grants plus $75 billion in loans and guarantees, has already catalyzed over $200 billion in private semiconductor investments. It is yet to be determined whether Samsung will receive loan awards in addition …
Full story available on Benzinga.com
South Korean tech giant Samsung Electronics Co (OTC:SSNLF) is set to announce a substantial $44 billion investment in U.S. chipmaking, possibly as early as next week.
What Happened: The world’s leading memory-chip manufacturer is anticipated to disclose the project in Taylor, Texas, in the presence of Commerce Secretary Gina Raimondo, reported Bloomberg, citing people familiar with the matter.
Samsung has obtained over $6 billion in U.S. government grants for the investment, which has ballooned to a total of $44 billion spread over several years.
This investment aligns with Washington’s larger strategy to repatriate semiconductor production to the U.S. The Biden administration is utilizing the 2022 Chips and Science Act to invigorate American chipmaking, which has seen production drift to Asia over the past decades.
The Chips Act, which earmarked $39 billion in grants plus $75 billion in loans and guarantees, has already catalyzed over $200 billion in private semiconductor investments. It is yet to be determined whether Samsung will receive loan awards in addition …
Full story available on Benzinga.com
South Korean tech giant Samsung Electronics Co (OTC:SSNLF) is set to announce a substantial $44 billion investment in U.S. chipmaking, possibly as early as next week.
What Happened: The world’s leading memory-chip manufacturer is anticipated to disclose the project in Taylor, Texas, in the presence of Commerce Secretary Gina Raimondo, reported Bloomberg, citing people familiar with the matter.
Samsung has obtained over $6 billion in U.S. government grants for the investment, which has ballooned to a total of $44 billion spread over several years.
This investment aligns with Washington’s larger strategy to repatriate semiconductor production to the U.S. The Biden administration is utilizing the 2022 Chips and Science Act to invigorate American chipmaking, which has seen production drift to Asia over the past decades.
The Chips Act, which earmarked $39 billion in grants plus $75 billion in loans and guarantees, has already catalyzed over $200 billion in private semiconductor investments. It is yet to be determined whether Samsung will receive loan awards in addition …Full story available on Benzinga.com Read MoreARM, Asia, Gina Raimondo, Kaustubh Bagalkote, MU, News, NVDA, Samsung, semiconductor, South Korea, SSNLF, Global, Markets, Tech, NVDA, US67066G1040, ARM, MU, US5951121038, SSNLF, News, Asia, Global, Markets, Tech, Benzinga Asia
