The South Korean manufacturing behemoth also intends to spend as much as $45 billion by the decade’s end to expand its Texas plant.
The federal government of the United States has awarded Samsung incentives totaling $6.4 billion so that the tech company may increase its chip production in Texas.
The incentives were part of a larger attempt by the South Korean industrial group to increase chip manufacture in the United States.
The 2022 Chips and Science Act, which seeks to increase chip manufacturing for the aerospace, defense, and automotive sectors, is the source of the funding. An April 15 story cited anonymous administration sources as saying the goal is to strengthen national security.
In addition to enabling Samsung to expand its semiconductor manufacturing plant in Austin, Texas, the funding would assist two production facilities, namely a research center and a packaging facility, according to Commerce Secretary Gina Raimondo.
“The United States can regain its position as a global leader in semiconductor design, advanced packaging, production, and research and development with the help of this funding.”
Reportedly, by the end of 2030, Samsung would have spent an additional $45 billion expanding its chip production facilities in Texas.
This announcement follows rumors that ChatGPT’s developer, OpenAI, was going to manufacture its own semiconductor chips to power its AI software, which surfaced a month ago. OpenAI might receive funding from MGX, a business that the UAE government sponsors.
In the run-up to Bitcoin’s halving, miners’ number one worry is still chip scarcity. The most significant threat to Bitcoin mining companies in the run-up to this week’s planned halving of the cryptocurrency is not the appearance of possible climate-focused legislation but rather chip shortages.
According to Riot Platforms’ 2023 annual report, there are twelve ongoing dangers to Bitcoin mining profitability. One of the most serious issues that might affect its mining activities in the future is the scarcity of chips. As per the findings:
“There is a shortage of semiconductors due to the growth in demand for computer chips and the continuing worldwide supply chain issue.”
In their 2023 10-K filing, U.S. Bitcoin miner CleanSpark last year mentioned the possibility of “cryptocurrency hardware disruption” and the challenges that may arise while acquiring new gear.
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