The US government has announced it will hand $6.4B to Samsung, in a bid to get more advanced chips produced on US soil. The company, headquartered in South Korea, is currently in the process of building chipmaking facilities, including a fab and packaging plant, in Taylor, Texas and this big influx of cash hopes to convince it to stay in the Lone Star State for the long-term.
"The chips that Samsung will be making in Texas are important components to our most advanced technologies, from artificial intelligence to high-performance computing and 5G communications," Gina Raimondo, US Secretary of Commerce, said. "With President Biden's leadership and Samsung’s commitment to the US, this proposed funding advances America’s leadership in semiconductor manufacturing on the world stage."
