The United States will give Samsung $6.4 billion to finance a semiconductor factory in Texas

The US government will give South Korean tech giant Samsung direct aid of up to $6.4 billion to fund research and production of semiconductors at a factory in Texas.

US Department of Commerce and Samsung Electronics A statement published by the US government said: “Samsung has signed a non-binding preliminary terms memorandum (PMT) to provide up to $6.4 billion in direct financing under the Chips and Science Act.”

According to the Department of Commerce headed by Gina Raimondo, the funding will go toward creating a state-of-the-art industrial complex that will include factories designed to mass produce chips, as well as a packaging facility.

For its part, the White House indicated that the allocated support will unlock more than $40 billion in Samsung projects that will create 21,500 new job opportunities.

“These facilities will support the production of some of the world's most powerful chips, essential for advanced technologies such as artificial intelligence, and will enhance the national security of the United States,” President Joe Biden's administration said in a statement. By Europe Press.

In this sense, and with the aim of increasing the US role in the semiconductor sector, Washington actually announced last week that it will grant Taiwan Semiconductor Manufacturing Company (TSMC) up to $6.6 billion in direct financing to build three microchips in China. Arizona.

Likewise, in March, Intel received about $20 billion in aid to finance its expansion and ensure the sector's competitiveness. This amount will be divided into a direct payment of $8.5 billion, supplemented by an additional credit line of $11 billion.

The multinational company also indicated that it will avail the tax benefit scheme to claim up to 25% of the capital expenditure incurred.

These funds will cover the $100 billion investments that Intel intends to make in the United States over the next five years, specifically in sites in Arizona, New Mexico, Ohio and Oregon. It is estimated that these projects will contribute to the creation of 10,000 highly qualified jobs and another 20,000 during the construction phase.

The Chips and Science Act is an initiative supported by Democrats and some Republicans to reduce U.S. dependence on Asian semiconductor suppliers. Currently, the United States produces less than 10% of the microchips manufactured globally and none of the most advanced ones.