Samsung looked set to secure incentives worth more than $6 billion from the US government, with Bloomberg reporting the company was in talks with the nation’s Department of Commerce over building another chip manufacturing facility in the country.
Grants from the CHIPS and Science Act would be only one source, with Taiwan Semiconductor Manufacturing Co (TSMC) and Intel expected to be awarded additional funding of $5 billion and $10 billion, respectively the news agency wrote.
A total of $28 billion would be earmarked for advanced chip production, with agreements expected to be unveiled soon.
The CHIPS and Science Act includes $52 billion in funding to boost domestic semiconductor research and manufacturing.
Samsung, TSMC and Intel were among a number of companies which applied for billions in subsidies through the act. Despite massive investments over the past few years, most chipmakers still are waiting to receive billions in federal incentives.
In November 2021, Samsung selected a site in Texas as the home for a $17 billion chip plant. The cost of the facility has soared to more than $25 billion, due mostly to higher-than-expected construction fees, with mass production delayed until at least 2025.
TSMC plotted a $12 billion semiconductor factory in Arizona, with production now scheduled to start in H1 2025 instead of 2024.
Delays in allocating government funds and weak market conditions pushed back the estimated completion date for a $20 billion Intel project in Ohio.
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