CHIPS & Science Act

Samsung Electronics this week was awarded up to $6.4 billion from the U.S. government under the CHIPS and Science Act to build its new fab complex in Taylor, Texas. This is the third major award under the act in the last month, with all three leading-edge fabs – Intel, TSMC, and now Samsung – receiving multi-billion dollar funding packages under the domestic chip production program. Overall, the final price tag on Samsung's new fab complex is expected to reach $40 billion by the time it's completed later this decade. Samsung's CHIPS Act funding was announced during a celebratory event attended by U.S. Secretary of Commerce Gina Raimondo and Samsung Semiconductor chief executive Kye Hyun Kyung. During the event, Kyung outlined the strategic goals of...