Biden said the new preliminary agreement would create 'at least 21,500 jobs.'
President Joe Biden has touted a deal with Samsung to build new semiconductor chip plants in Texas.The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding to the South Korean tech giant to develop a computer chip manufacturing and research cluster.The funding comes from the 2022 CHIPS and Science Act, which Biden signed into law with the aim of boosting domestic production of advanced computer chips.
Samsung's cluster will include two factories in Taylor, Texas, that will make four- and two-nanometer chips. The first would begin production in 2026 and the second starting in 2027.There will also be a facility dedicated to research and development and another for the packaging that surrounds chip components. The funding will also expand Samsung's existing semiconductor facility in Austin.
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