6.5 billion dollars of support from the USA to Samsung – Last Minute Science Technology News
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In his written statement, US President Joe Biden reminded that he signed the CHIPS and Science Act to restore the country’s leadership in semiconductor production. Announcing that a preliminary agreement was made between Samsung and the US Department of Commerce to bring the company’s advanced semiconductor production and R&D to Texas, Biden said that in this context, Samsung will come to Texas with an investment of over 40 billion dollars and at least 21,500 jobs. He emphasized that it will strengthen its role in the semiconductor ecosystem.
THE PRODUCTION OF THE MOST POWERFUL CHIPS WILL BE SUPPORTED
Biden underlined that these facilities will support the production of some of the world’s most powerful chips required for advanced technologies such as artificial intelligence and strengthen the national security of the United States.
In the statement made by the US Department of Commerce, it was stated that within the scope of the preliminary agreement reached with Samsung, up to $ 6.4 billion in direct financing will be provided within the framework of CHIPS and the Science Act to strengthen the resilience of the country’s semiconductor supply chain, advance technology leadership and increase global competitiveness.
TARGET TO PRODUCE APPROXIMATELY 20 PERCENT OF ADVANCED CHIP BY 2030
This month, it was announced in the USA that direct financing of up to $6.6 billion and loans of up to $5 billion would be provided to Taiwan-based semiconductor company TSMC within the scope of the CHIPS Act. In March, a grant of $8.5 billion, as well as a loan of $11 billion for Intel’s local chip production facilities, was announced.
The US administration also stated that it would support Global Foundries and Microchip Technology to increase semiconductor production.
The country aims to produce 20 percent of the most advanced semiconductors in the world by 2030 with its chip investments.
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