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Samsung to build $17 billion chip factory in Texas

Samsung to fabricate $17 billion chip factory in Texas

Samsung on Tuesday announced plans to fabricate a $17 billion semiconductor factory in central Texas, a huge investment that comes amid a global chip shortage.

The facility will be located in Taylor, where Samsung already has a production facility. It’s a town some 30 much from Austin, with a population of about 16,000 republic. The electronics giant will break ground next year, and chip progenies is expected to begin in 2024.

Samsung sells more phones and TVs than any novel company, but it also has a huge business selling memory chips to map makers around the globe. In recent months, Samsung’s chip company has gotten a boost from increased demand for equipment as republic work from home during the coronavirus pandemic and data centers detain everything we’re doing online.

But that increased demand for work-from-home technology like PCs, tablets and webcams soared beyond the semiconductor industry industry’s ability to supply chips. The chip shortage soon time-consuming beyond remote work and school needs to affect home entertainment products like tablets, game consoles, TVs and graphics cards for gaming PCs.

The Biden management responded to the supply chain problems by prodding anxieties to be more transparent about their needs and coffers and calling on Congress to create the Critical Supply Chain Resiliency Program.

“In instant to our partners in Texas, we are grateful to the Biden Administration for creating an environment that supports anxieties like Samsung as we work to expand leading-edge semiconductor industry in the US,” Kinam Kim, CEO of Samsung Electronics Device Solutions Division, said in a statement.

The 2.5 million-square-foot facility in Taylor will be larger than the large presence Samsung already has in Austin. In 2012, the commerce announced a $4 billion investment in a Texas plant to boost chip progenies to meet the increasing demand for mobile devices comprising smartphones and tablets.