Samsung will invest $44 billion (instead of $17 billion) in chip manufacturing in Texas

Samsung Electronics plans to increase its investments in chip production in Texas to around $44 billion, according to informed sources.

The company will focus most of these new expenses around the city of Taylor, where it is already building a semiconductor chip plant near its existing operations. Currently, Samsung plans to build another chip manufacturing plant and a modern packaging center.

If the situation develops as anticipated, this will be another proof of the effectiveness of the Biden administration's policy, which uses incentives and political support to encourage global chip manufacturers to build production facilities in the U.S. Back in March, it was reported that Washington plans to allocate Samsung more than $6 billion to help expand its operations in Texas beyond the initial project.

In 2021, Samsung Electronics announced a $17 billion project in Taylor near the existing plant in Austin. Now, if the information is confirmed, the investment amount will reach $44 billion.

Source: bloomberg