Samsung to hike Texas chip spending to US$44 billion, WSJ says

SAMSUNG Electronics aims to raise its investment in Texas to about US$44 billion, the Wall Street Journal reported, citing people familiar with the matter.

South Korea’s largest company will focus much of that new spending around the city of Taylor, where it’s already building a semiconductor facility close to existing operations, the Journal reported. Samsung now plans to build another chipmaking plant and an advanced packaging hub.

If it goes ahead, the mega-investment hands a victory to the Biden administration, which is using incentives and policy support to try and get global chipmakers to build on US soil.

Washington plans to award more than US$6 billion to Samsung to help it expand in Texas beyond the original project it announced, Bloomberg News reported in March.

In 2021, the company announced a US$17 billion project in Taylor, near an existing plant in Austin. BLOOMBERG