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.” |
Tornadoes in Nebraska and Iowa collapse buildingsThe REAL Evangelos Marinakis: The explosive hireZendaya's racy Challengers threeA woman might win the presidency of Mexico. What could that mean for abortion rights?Ditching the lift and taking the stairs can reduce your risk of dying by a QUARTEREddie Murphy's The Pickup set crash saw two stunt vehicles collide and roll off the roadZendaya's racy Challengers threeShips from Turkey planning to deliver aid to Gaza were denied right to sail2024 NFL draft: Browns' draft picks from MichiganThe REAL Evangelos Marinakis: The explosive hire