Samsung ramps up Texas chip hub investment to $44 billion

Biden govt is offering subsidies to major firms to solidify the US’s semiconductor production. Meanwhile, Samsung is planning to double down its semiconductor investment for the Texas hub to $44 billion.

According to WallStreetJournal, Samsung considering more than doubling semiconductor investment in Texas to about $44 billion. The company could announce its investment plan in Taylor, Texas, on April 15.

The Korean tech giant announced an investment of $17 billion for a Texas chip hub in November 2021. The additional investment is aimed at a new chip-making factory and a facility for advanced packaging and R&D.

The US Commerce Department plans to invest about $28 billion of the $39 billion fund for leading-edge chipmakers such as Samsung Electronics and Taiwan Semiconductor Manufacturing.

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