Samsung Nears $6 Billion US Grant for Texas Chip Plant Expansion

Samsung is reportedly close to securing a $6 billion grant from the US government to expand its chip-making factories in the US. The grant is part of the CHIPS and Science Act, which authorizes over $280 billion in funding to boost semiconductor research and manufacturing in the US. Samsung is currently building its chip manufacturing plant in Taylor, Texas, which is expected to be operational later this year with 2,000 employees. The initial cost of the plant was estimated at around $17 billion, but costs have reportedly risen above $25 billion.