US to award chipmaker Texas Instruments up to $1.6 bn
The Peninsula
Washington: The US government said Friday it has signed a preliminary agreement with semiconductor manufacturer Texas Instruments to give the company...
Washington: The US government said Friday it has signed a preliminary agreement with semiconductor manufacturer Texas Instruments to give the company up to $1.6 billion to help fund new facilities in the country.
The proposed direct funding comes under the CHIPS and Science Act, a package of incentives passed by Congress in 2022 to boost research and US semiconductor production.
The money would give a boost to TI's planned investment of more than $18 billion through the end of the decade to build three new facilities, the Commerce Department said in a statement.
Two of them will be in Texas and one in Utah, and they are expected to generate more than 2,000 manufacturing jobs, the department added.
The United States has been seeking to reduce reliance on China when it comes to older-generation semiconductors, amid national security concerns and as competition with Beijing intensifies.
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