Samsung to Build $17B Semiconductor Factory in Texas

As the United States looks to expand in semiconductor expansion, Samsung has announced its commitment to building a chip-making factory in Texas.

The Korean tech company will be investing $17 billion into the new facility, which will manufacture high-end and advanced chips for smartphones, 5G and artificial intelligence, among other applications.

The Wall Street Journal has reported that construction for the factory is scheduled to begin next year, while production within the facility is expected to start in the second half of 2024.

The world has been experiencing a global chip shortage caused by many closed plants and a high demand for PCs and other tech devices.

Samsung has chosen Taylor, Texas for this new facility due to the generous tax breaks and incentives it offered. The city is also able to roll blackouts and providing electricity to certain facilities in the case of power outage.

Kim Ki-nam, chief executive of the Samsung Electronics Device Solutions Division, stated, “As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future. With greater manufacturing capacity, we will able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain. We are also proud to be bringing more jobs and supporting the training and talent development for local communities, as Samsung celebrates 25 years of semiconductor manufacturing in the US.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.