Samsung, the biggest chip manufacturer, is getting a $6 million grant from the US for chip plants, as reports are saying.
The Korean firm is the largest chip maker in the industry, and to maintain the legacy, the giants are planning to make advanced semiconductor chips in the U.S. To turn Samsung’s plan into a success, the US government decided to help the firm.
If the reports are to be believed, they suggest that the U.S. plans to award more than $6 billion to the Korean Electronics firm, just for helping the chipmaker expand beyond a project in Texas. In addition, reports indicate that the initial estimate for the construction of the chip plant in Taylor was $17 billion, but it has now escalated to over $25 billion.
The Korean firm, similar to the rest of the chip manufacturers, such as Intel, has been anticipating funds from the U.S. government via its CHIPS Act to raise advanced semiconductor chip production in the United States.
To be noted, regarding this matter, the government appears pretty loose, as it has been slow in releasing those funds. On the other hand, the tough competitor of Samsung, named TSMC, is this close to receiving a $5 billion fund from the US government.
As per the diplomatic tensions between the governments of these two countries—China and the US—the US has decided to attract chip producers to build their chip plants in the US. Despite the deficiency of enough quality talent and rising building costs, chip producers have been finding it hard to keep up with their words.
