U.S. awards chipmaker Texas Instruments up to $1.6 billion to build factories

Texas Instruments said on Friday it would receive up to $1.6 billion in funding from the U.S. Commerce Department towards the construction of three new facilities, the latest government outlay aimed at bolstering domestic chip production.

The funding, under the U.S. CHIPS and Science Act, will help the company build two factories in Texas and one in Utah. Texas Instruments has pledged more than $18 billion through 2029 to the projects, which are expected to create 2,000 manufacturing jobs.

The chipmaker also expects to receive about $6 billion to $8 billion in investment tax credit from the U.S. Treasury Department, and $10 million in funding for workforce development.

“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,” CEO Haviv Ilan said.

The United States is trying to boost domestic output and reduce reliance on semiconductor hub Taiwan through the CHIPS Act, which was passed in 2022 and can provide $52.7 billion in subsidies for chip production and research.

It awarded nearly $20 billion in grants and loans to Intel, and $6.1 billion in grants to memory chipmaker Micron Technology earlier this year.

“This $1.6B will go a long way in helping Texas Instruments stay competitive,” said Kinngai Chan, senior analyst at Summit Insights Group.

“While TI doesn’t play in the cutting-edge process node, mature-node (a less advanced technology) is still very important for the US semiconductor industry,” Chan said, noting China was also spending on mature nodes, which represent about half the global chip demand.

Texas Instruments is benefiting from a rebound in demand for its chips, used in everything from smartphones to cars. It topped quarterly earnings estimates last month.

—Deborah Mary Sophia, Reuters

https://www.fastcompany.com/91174563/us-awards-chipmaker-texas-instruments-funding-factories?partner=rss&utm_source=rss&utm_medium=feed&utm_campaign=rss+fastcompany&utm_content=rss

Creată 8mo | 16 aug. 2024, 19:30:05


Autentifică-te pentru a adăuga comentarii

Alte posturi din acest grup

Andrew Tate is back—and he’s getting a hero’s welcome from right-wing podcasters

You can’t talk about the manosphere without mentioning Andrew Tate. The British-American influencer and former professional kickboxer built his platform by promoting misogynistic ideas—claiming wo

2 apr. 2025, 22:50:04 | Fast company - tech
Meta and UFC team up to bring AI and VR to fans

UFC is joining up with Facebook’s parent company

2 apr. 2025, 22:50:02 | Fast company - tech
An AI watchdog accused OpenAI of using copyrighted books without permission

An artificial intelligence watchdog is accusing OpenAI of training its default ChatGPT model on copyrighted book content without permission.

In a new paper

2 apr. 2025, 20:30:07 | Fast company - tech
Trump signals TikTok sale will done by April 5 deadline. Who will buy it?

As the deadline to strike a deal over TikTok approaches this week, President Donald Trump has signaled that he is confident his administrat

2 apr. 2025, 18:20:04 | Fast company - tech
CERN scientists release blueprint for the Future Circular Collider

Top minds at the world’s largest atom smasher have released a blueprint for 

2 apr. 2025, 18:20:03 | Fast company - tech
‘Titanic 2’? YouTube is cracking down on AI-assisted fake movie trailers that fetch millions of views

A trailer for Avatar: Fire and Ash, the third film in James Cameron’s galactically successful series, starts by delivering on the title’s promise. Rivers of lava cascade through the fores

2 apr. 2025, 15:50:06 | Fast company - tech