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:
Related suggestion:
North Korea files shortJoy Corrigan goes braless under a stunning long lacy pink cardigan and white kneeThe Guess Who and B.T.O. rocker Randy Bachman has prized instruments up for auctionNearly 80 die in 3 weeks at Myanmar refugee camps: aid workers — Radio Free AsiaInside the bizarre Las Vegas conference where TrumpTesla cuts the price of its "Full Self Driving" system by a thirdRevealed: Harry Styles superfans face 80Biden calls Trump unfit to lead the military and is off on details of uncle's deathSam TaylorTaylor Swift's The Tortured Poets Department is dismissed as 'flat and cringe
2.3784s , 6497.84375 kb
Copyright © 2024 Powered by Biden administration agrees to provide $6.4 billion to Samsung for making computer chips in Texas ,Global Gleam news portal