Samsung Set to Invest $40 Billion in Texas with Preliminary Deal from CHIPS Act, Creating 21,500 Jobs and Strengthening State-of-the-Art Semiconductor Technology

Samsung is set to invest over $40 billion in the Texas region in the coming years as part of a $6.4 billion preliminary deal made possible by the CHIPS and Science Act. The announcement was made by President Biden, who emphasized that this investment would result in significant job growth and solidify central Texas as a hub for state-of-the-art semiconductor technology.

According to the Biden administration, at least 21,500 jobs will be created through this deal, with up to $40 million in CHIPS funding going towards training and developing the local workforce. The facilities in Austin will focus on producing some of the most powerful chips in the world, crucial for advanced technologies like artificial intelligence and national security.

Samsung’s investments in Taylor will enable the construction of an advanced manufacturing system for creating cutting-edge chips and for research and development in advanced packaging. The semiconductors produced in Taylor will be utilized in industries like communications, automotive, and defense.

The full report on TheHill.com provides more details about this exciting development.