Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in Texas
Time:2024-06-03 18:55:00 Source:travelViews(143)
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.”
Previous:Live Nation investigating data breach at Ticketmaster subsidiary
Next:With strawberries and goats, a ‘farmastery’ reaches out to its neighbors
You may also like
- Cops arrest pro
- Scottish government survives vote of no confidence
- Japan PM Kishida sends offering to notorious war
- Tim Howard, last in line of top American goalkeepers, enters U.S. National Soccer Hall of Fame
- Cops arrest pro
- Tim Howard, last in line of top American goalkeepers, enters U.S. National Soccer Hall of Fame
- The Kentucky Derby in the words of the winners, from Smith to Espinoza
- West Indies cricketer Devon Thomas banned for 5 years for match fixing
- Michael Douglas pays solidarity visit to southern Israel