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The United States intends to award more than $6 billion to Samsung Electronics for major US investments


©Reuters. US plans to award more than $6 billion to Samsung Electronics for major US investments – Bloomberg

The United States plans to award Samsung Electronics (KS:) Co. more than $6 billion, allowing the chipmaker to expand beyond an already announced Texas project, according to a Bloomberg report.

Citing sources, the publication says the Commerce Department is planning to announce several major awards in the coming weeks, including a grant of more than $5 billion to Taiwan Semiconductor Manufacturing Co. This grant will be part of the money allocated by the Chips and Science 2022 Act.

Additionally, federal funding to Samsung, South Korea’s top chipmaker, is said to be accompanied by substantial additional investment by the company in the United States.

However, Bloomberg cautioned that the pending announcement represents only a preliminary agreement that is still subject to potential changes, with no final agreement yet.

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