Samsung has won a $6.4 billion grant from the US government to expand its semiconductor manufacturing operations in Texas.
The funding, provided under the Chip and Science Act of 2022, is a key measure to boost domestic chip manufacturing, especially for the automotive, aerospace and defense industries.
These industries are considered vital to national security, according to Reuters on April 15.
Commerce Secretary Gina Raimondo emphasized the role of the subsidies in improving U. S. competitiveness in various semiconductor manufacturing sectors.
These subsidies will enable the U. S. to once again become a world leader in manufacturing, advanced packaging, research and development, and semiconductor development, where we now lead," Commerce Secretary Raimondo said.
In addition to the federal funding, Samsung plans to invest another $45 billion in its Texas manufacturing facility by the end of 2030.
This ambitious expansion will include two new manufacturing facilities, one for research and one for packaging, in addition to the existing semiconductor plant in Austin.
The move coincides with the announcement by OpenAI, the developer of ChatGPT, that it intends to produce its own chips for artificial intelligence, possibly with financial backing from UAE state-owned MGX Group.
The semiconductor industry is currently experiencing a significant chip shortage that could affect various industries, particularly #cryptocurrency #mining .
This shortage comes at a critical time when the #bitcoin mining industry is facing the threat of bitcoin's value halving.
In its 2023 annual report, bitcoin mining company Riot Platforms reports that limited chip supply is one of 12 major risks to its profitability.
The report notes that "the ongoing global supply #chain crisis coupled with growing demand for computer chips is resulting in a shortage of semiconductor supply.
In addition, CleanSpark, a U. S.
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