by Leah Douglas and Alexandra Alper
(Reuters) – The United States will grant up to $6.4 billion (6.02 billion euros) in subsidies to South Korean company Samsung to expand its semiconductor production in central Texas , the Commerce Department said Monday.
This envelope was granted as part of the American support plan for semiconductors (“chips and science act) adopted in 2022.
The funds will also allow Samsung to expand its Austin, Texas, semiconductor plant, Commerce Department Secretary Gina Raimondo added.
These investments “will enable the United States to once again become the world leader, not only in semiconductor design, where we currently lead, but also in manufacturing, advanced packaging and research and development,” she added.
Intel secured $8.5 billion in subsidies last month, while Taiwanese company TSMC landed $6.6 billion in April to expand production in the United States.
(Reporting Leah Douglas; French version Kate Entringer)
Copyright © 2024 Thomson Reuters