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International Business Times
International Business Times
Business
AFP News

US To Award Chipmaker Texas Instruments Up To $1.6 Bn

Texas Instruments United States Texas TI Commerce Department Semiconductor
The US government says it has signed a preliminary agreements with Texas Instruments to give the company up to $1.6 billion in support of new facilities in the country (Credit: AFP)

The US government said Friday it has signed a preliminary agreement with semiconductor manufacturer Texas Instruments to give the company up to $1.6 billion to help fund new facilities in the country.

The proposed direct funding comes under the CHIPS and Science Act, a package of incentives passed by Congress in 2022 to boost research and US semiconductor production.

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