The Biden administration awarded Samsung Electronics up to $4.745 billion in CHIPS and Science Act funding to support the company’s investment and expansion in central Texas.  According to a news release about the award,

Samsung Electronics Co. and Texas Instruments Inc. completed final agreements to get billions of dollars of government support for new semiconductor plants in the US, cementing a major piece of the Biden administration’s Chips Act initiative.

The US Commerce Department has awarded Samsung and Texas Instruments with a combined over $6 billion in “direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication,

The U.S. Commerce Department said on Friday it was finalizing an award of up to $4.745 billion to South Korea's Samsung Electronics and up to $1.61 billion for Texas Instruments to expand chip production.

The US Commerce Department has announced that it was finalizing an award of up to $4.745 billion dollars to Samsung Electronics to boost chip production. Notably, earlier in April this year, Samsung already secured a massive grant worth $6.