2024-04-16 13:21:52
The administration of US President Joe Biden will grant up to 6.4 billion dollars for free to the South Korean corporation “Samsung” (Samsung), which is building production facilities for computer chips in the state of Texas. This was announced today by the US Department of Commerce, quoted by Reuters and BTA.
The funds will be allocated to Samsung in accordance with the CHIPS and Science Act, passed in 2022. It provides for the provision of US government subsidies to stimulate the production of semiconductors in the country, as well as for the development of new technologies related to them.
Samsung is expected to invest roughly $45 billion in chip manufacturing in Texas by the end of this decade. Its subsidy will stimulate technological development in the aerospace, defense and automotive sectors. This initiative will strengthen the national security of the United States, high-ranking representatives of the presidential administration announced to journalists in Washington.