The US Commerce Department has awarded Samsung and Texas Instruments with a combined over $6 billion in “direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication,” according to a pair of announcements published on Friday.

Texas Instruments Inc. signed a final agreement for $1.6 billion in government grants to support construction of new semiconductor plants in the US, cementing another major part of the Biden administrations’ Chips Act initiative.

Samsung Electronics Co. Ltd. has finalized the incentive it will get through the federal CHIPS and Science Act, although the company won't be making as big of an investment in Taylor as what was proclaimed when dignitaries descended on the small town to announce a preliminary CHIPS award earlier this year.

The Biden administration finalized a $4.745B grant for South Korea's Samsung (SSNLF) as part of the $53B CHIPs Act on Friday. Read for more.

Samsung Electronics and Texas Instruments completed final agreements to get billions of dollars of government support for new semiconductor plants in the US, cementing a major piece of the Biden administration’s Chips Act initiative.

The U.S. Commerce Department said Friday that it awarded Samsung Electronics Co. up to US$4.745 billion in direct funding to support the South Ko

US finalizes $4.7b in CHIPS Act subsidy to Samsung Electronics The US Commerce Department said Friday that it awarded Samsung Electronics Co. up to $4.745 billion in direct funding to support the South Korean tech giant's chipmaking investment in central Texas,

PALO ALTO, California -- The Biden administration finalized grant of up to $4.75 billion to Samsung Electronics on Friday for plans to make advanced semiconductors in the U.S., a number far short of the up to $6.4 billion in funding announced in April.

President Joe Biden's administration said Friday that it has cemented deals for billions in funding to South Korean semiconductor giant Samsung Electronics and Texas Instruments to boost their chipmaking facilities in the United States.

Samsung Electronics has been awarded a $4.745 billion incentive by the US government to help boost operations and create "tens of thousands" of jobs at its production hubs in America, as the world's biggest economy positions itself to be a leader in the microchip industry amid the artificial intelligence boom.