Samsung to get $6-7 billion in chip subsidy next week for Texas expansion, sources say

First-ever speedcubing competition in P.E.I. draws large crowd | SaltWire #rubikscube #charlottetownWASHINGTON - The Biden administration plans to announce it is awarding between $6 billion and $7 billion to South Korea's Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said.

The Commerce Department declined to comment. Samsung and Texas Governor Greg Abbott's office did not immediately respond to requests for comment. The announcement caps off a string of major Chips and Science grants in quick succession as the U.S. seeks to expand domestic chip production and lure away capital that might have been used to build plants in China and the region.

The CHIPS Act's goal is to reduce reliance on China and Taiwan, as the share of global semiconductor manufacturing capacity in the U.S. has fallen from 37% in 1990 to 12% in 2020, according to the Semiconductor Industry Association.

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