The US Department of Commerce has announced a significant funding initiative under the CHIPS Program, allocating nearly $7 billion to expand semiconductor manufacturing in the United States. Samsung, Texas Instruments, and Amkor Technology are the primary beneficiaries of this funding.
Samsung will receive up to $4.745 billion to support its ambitious plan to invest $37 billion in new chip development and production facilities. These include two new manufacturing plants and a research and development site in Texas, as well as an expansion of its Austin facility.
Texas Instruments has been allocated up to $1.61 billion to help fund three new facilities – two in Texas and one in Utah – with a planned investment of $18 billion by 2029. Amkor Technology will receive $407 million to establish a $2 billion advanced packaging and testing facility in Peoria, Arizona. This new site is expected to become the largest of its kind in the United States.
The funding is tied to specific project milestones and is expected to create thousands of jobs, helping to strengthen the US semiconductor industry. These initiatives highlight the nation’s commitment to reducing reliance on foreign suppliers and boosting innovation in critical technology sectors.
Source: [Read more on TechCrunch](https://techcrunch.com/2024/12/13/databricks-is-on-track-to-raise-a-record-9-5-billion-round-at-60b-valuation/)