Samsung Poised to Win Over $6 Billion for Expanded US Investment
- Chips Act grant would fund expansion beyond project in Texas
- Awards are also expected for Samsung rivals TSMC and Intel
The US plans to award more than $6 billion to Samsung Electronics Co., helping the chipmaker expand beyond a project in Texas it has already announced, according to people familiar with the matter.
The money from the 2022 Chips and Science Act would be one of several major awards that the Commerce Department is expected to announce in coming weeks, including a grant of more than $5 billion to Samsung’s Asian rival, Taiwan Semiconductor Manufacturing Co., people familiar with the plans said earlier. The people spoke on condition of anonymity in advance of the official announcements.