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
US opens investigation into Ford crashes involving Blue Cruise partially automated driving system
DETROIT (AP) — Two fatal crashes involving Ford’s Blue Cruise partially automated driving system hav2024-04-30Changshan Shows the Way to Boost Births
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30Younger Generation Flocks to Museums to Celebrate Chinese Culture
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-3011th Straits Youth Day Marked in Fuzhou
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30Sri Lanka expresses hope to join BRICS+
Sri Lanka hopes to join BRICS+ in the near future, Sri Lanka's Ambassador to Russia Janitha Abey2024-04-30Younger Generation Flocks to Museums to Celebrate Chinese Culture
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30
atest comment