In a mega move to supercharge America's tech scene, the U.S. is awarding a whopping $6.4 billion grant to South Korea's Samsung! 🌟 The cash infusion aims to expand Samsung's chip production right in the heart of Texas. Yeehaw! 🤠
The funds, courtesy of the 2022 CHIPS and Science Act, will fuel the development of two cutting-edge chip production facilities, a snazzy research center, and a top-notch packaging facility in Taylor, Texas. Talk about leveling up! 🚀
But wait, there's more! 🎁 The grant also paves the way for Samsung to beef up its Austin semiconductor facility. U.S. Commerce Secretary Gina Raimondo is all smiles, noting that this move not only boosts chip output for aerospace, defense and auto industries but also strengthens national security. Double win! 🛡️✨
\"These investments will allow the U.S. to once again lead the world, not just in semiconductor design, which is where we do now lead, but also in manufacturing, advanced packaging, and research and development,\" Raimondo shared. Sounds like a tech revolution is brewing! 🌐💡
Samsung's Co-CEO Kyung Kye Hyun chimed in, saying, \"To meet the expected surge in demand from U.S. customers for future products like AI chips, our fabs will be equipped for cutting-edge process technologies and help bring security to the U.S. semiconductor supply chain.\" Future-proofing at its finest! 🤖🔒
Mark your calendars, folks! Samsung plans to kick off production in 2026. Analysts predict they'll start with 4-nanometer chips and eventually dive into the 2-nanometer realm. Smaller chips, bigger impact! 🕹️✨
This hefty grant positions Samsung as the third-largest recipient under the CHIPS Act, following Intel and Taiwan's TSMC. It's all part of the U.S. mission to reignite its chipmaking prowess. After all, the U.S. share of global semiconductor manufacturing has dipped from 37% in 1990 to just 12% in 2020. Time for a comeback! 📈💪
Senator John Cornyn of Texas is pumped, saying, \"By investing in leading-edge semiconductor manufacturing, we are helping secure this vulnerable supply chain, boosting our national security and global competitiveness, and creating new jobs for Texans.\" High-fives all around! 🖐️🎊
Samsung isn't holding back either, expected to pour in around $45 billion to build and expand its Texas facilities by the end of the decade. That's some serious commitment! 💰🏗️
The Semiconductor Industry Association (SIA) is cheering from the sidelines: \"We applaud Samsung for investing boldly in U.S.-based manufacturing and salute the U.S. Commerce Department for making significant headway in implementing the CHIPS Act's manufacturing incentives and R&D programs.\" Go team! 🎉🏀
With tech giants ramping up U.S. production, the future of semiconductors looks brighter than ever. Get ready for a tech-tastic ride! 🌟🚀
Reference(s):
U.S. awards Samsung $6.4 billion in grants to boost Texas chip output
cgtn.com
