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Billions in subsidies for Samsung: USA wants to boost chip production
US government supports NVIDIA competitors with billions: Samsung will probably receive subsidies for chip production in Texas. CHIPS and Science Act in focus.
Billions in subsidies for Samsung: USA wants to boost chip production
The US passed the CHIPS and Science Act to strengthen domestic semiconductor production and reduce dependence on foreign sources. Extensive investments are planned as part of this law, including billions in subsidies for chip companies. After Intel and TSMC have already been promised financial support, Samsung will now also benefit from a similar subsidy.
In 2022, Congress passed the CHIPS and Science Act, providing $52.7 billion in funding for semiconductor research, development and manufacturing. Additionally, the law includes $75 billion in federal lending and investment tax credits. The US government now plans to support Samsung with a grant of over $6 billion to expand the company's chip production in the US.
Intel previously received up to $8.5 billion in direct funding for semiconductor projects under the CHIPS and Science Act. Likewise, TSMC received commitments for billions of dollars in grants and loans to build factories in the United States, including a third factory in Arizona. TSMC's investments in the Phoenix, Arizona location are said to be over 65 billion US dollars.
The planned subsidies for Samsung are aimed at strengthening domestic semiconductor production and reducing dependence on foreign markets. This move could increase competitive pressure on industry leaders like NVIDIA. By including Samsung in the list of companies that benefit from government support, the US government is sending a clear signal in support of the domestic semiconductor industry.