The U.S. Commerce Department has officially finalized funding agreements with three major tech companies—Samsung Electronics, Texas Instruments, and Amkor Technology—under the CHIPS and Science Act of 2022. Announced on December 20, the agreements aim to strengthen domestic semiconductor production, boost job growth, and ensure a reliable supply of advanced chips critical for industries like artificial intelligence (AI) and national security.
Samsung Electronics has received up to $4.75 billion, while Texas Instruments and Amkor Technology were awarded up to $1.6 billion each. These funds are part of a larger $52.7 billion federal investment under the CHIPS Act, designed to revitalize the U.S. semiconductor sector.
Strengthening U.S. Semiconductor Infrastructure
According to U.S. Secretary of Commerce Gina Raimondo, this initiative ensures that the U.S. will be home to all five of the world’s leading-edge semiconductor manufacturers, solidifying the country’s position as a global leader in chip production. “This is an extraordinary achievement that will guarantee a steady, domestic supply of the most advanced semiconductors, which are vital for AI and national security,” Raimondo said.
Samsung, with nearly three decades of semiconductor manufacturing experience in the U.S., will play a crucial role in the country’s semiconductor ecosystem. The company’s Vice Chairman, Young Hyun Jun, emphasized the collaboration with American partners as a key step toward meeting the growing demands of the AI-driven future.
Texas Instruments and Amkor’s Expansions
Texas Instruments, a leader in analog and embedded processing semiconductors, will utilize its funding to expand U.S. production of essential chips used in nearly all electronic systems. CEO Haviv Ilan highlighted the growing reliance on these foundational chips, noting that the investment will bolster the U.S. semiconductor ecosystem while creating thousands of jobs in Texas and Utah.
Amkor Technology, focusing on packaging and testing semiconductor chips, will use its funding to build a new facility in Arizona. The project is expected to create 2,000 manufacturing jobs, with additional opportunities in construction. “This new facility will be crucial in strengthening the U.S. semiconductor supply chain,” said Amkor CEO Giel Rutten. Raimondo praised the facility, calling it a critical step in establishing the U.S. as a global technology leader for the future.
Earlier this month, the U.S. government also announced investments in SK hynix, GlobalWafers, and Micron, marking significant progress in expanding the country’s semiconductor manufacturing capacity.
These efforts reflect the broader goal of the CHIPS and Science Act, which aims to reduce reliance on foreign semiconductor suppliers, enhance national security, and ensure that the U.S. remains at the forefront of technological innovation.
