Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in Texas
WASHINGTON (AP) — The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.
The funding announced Monday by the Commerce Department is part of a total investment in the cluster that, with private money, is expected to exceed $40 billion. The government support comes from the CHIPS and Science Act, which President Joe Biden signed into law in 2022 with the goal of reviving the production of advanced computer chips domestically.
“The proposed project will propel Texas into a state of the art semiconductor ecosystem,” Commerce Secretary Gina Raimondo said on a call with reporters. “It puts us on track to hit our goal of producing 20% of the world’s leading edge chips in the United States by the end of the decade.”
Related articles
What's next for Iran after death of its president in crash?
JERUSALEM (AP) — The death of Iran’s president is unlikely to lead to any immediate changes in Iran’2024-05-22Stock market today: Asian shares mixed after calm day on Wall St
TOKYO (AP) — Asian shares were mixed on Wednesday after U.S. stocks held relatively steady on Wall S2024-05-22Grease star Susan Buckner dead at 72: The actress played cheerleader Patty opposite Olivia Newton
Grease star Susan Buckner has died at the age of 72.Her family revealed Susan died peacefully surrou2024-05-22House Republicans will turn to K
WASHINGTON (AP) — The leaders of three large public school systems will appear before Congress on We2024-05-22China vows to actively promote restoration of int'l flights
BEIJING, May 18 (Xinhua) -- China's civil aviation authorities have committed to boosting the freque2024-05-22US's largest public utility ignores warnings in moving forward with new natural gas plant
NASHVILLE, Tenn. (AP) — The nation’s largest public utility is moving ahead with a plan for a new na2024-05-22
atest comment