The South Korean manufacturing conglomerate also plans to invest up to $45 billion in expanding its Texas facility by the end of the decade.
Samsung will receive $6.4 billion worth of grants from the United States government to expand its chip manufacturing in Texas.
The South Korean manufacturing conglomerate secured the grants in a broader effort to expand chip manufacturing in the U.S.
The funding will come from the 2022 Chips and Science Act, which aims to boost chip production for the automotive, aerospace, and defense industries. The aim is to bolster national security, unnamed administration officials told Reuters, according to an April 15 report.
