Texas Instruments (TI) will receive up to $1.6 billion in proposed direct funding under the CHIPS and Science Act. The company has signed a non-binding Preliminary Memorandum of Terms with the U.S. Department of Commerce and will use the funding to support three 300mm wafer fabs already under construction in Texas and Utah. TI also hopes to receive an additional $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit.
What people are saying
In a recent quote, Haviv Ilan, president and CEO of Texas Instruments, said, "The historic CHIPS Act is enabling more semiconductor manufacturing capacity in the U.S., making the semiconductor ecosystem stronger and more resilient. Our investments further strengthen our competitive advantage in manufacturing and technology as we expand our 300mm manufacturing operations in the U.S. With plans to grow our internal manufacturing to more than 95% by 2030, we're building geopolitically dependable, 300mm capacity at scale to provide the analog and embedded processing chips our customers will need for years to come."
U.S. Secretary of Commerce Gina Raimondo added, "With this proposed investment from the Biden-Harris Administration in TI, a global leader of production for current-generation and mature-node chips, we would help secure the supply chain for these foundational semiconductors that are used in every sector of the U.S. economy, and create tens of thousands of jobs in Texas and Utah. The CHIPS for America program will supercharge American technology and innovation and make our country more secure – and TI is expected to be an important part of the success of the Biden-Harris Administration's work to revitalize semiconductor manufacturing and development in the U.S."
Manufacturers receiving funds from the CHIPS Act
Rocket Lab receives $23.9 million from CHIPS Act to upgrade New Mexico facility
The company will also receive addition financial assistance and incentives from New Mexico totaling $25.5 million.
Absolics to receive $75 million from the CHIPS Act to support semiconductor manufacturing in Georgia
The company, which is a subsidiary of SKC, manufactures glass substrate, an essential component to produce semiconductors.
Amkor to receive $400 million from the CHIPS Act to build OSAT manufacturing facility in Arizona
Amkor will invest $2 billion into the new facility, creating 2,000 new jobs in the process.
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