"Samsung Receives $6.4 Billion Grant for Texas Chip Production"

The Biden administration has agreed to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas, as part of a larger investment expected to exceed $40 billion. This move aligns with the CHIPS and Science Act signed into law by President Biden to revive domestic production of advanced computer chips, aiming to produce 20% of the world's leading edge chips in the United States by the end of the decade. The project is expected to create thousands of jobs and enhance national security, with Samsung's cluster in Taylor, Texas, set to include two chip factories and a research and development facility.