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- Texas Instruments Secures $1.6 Billion in CHIPS Act Funding for U.S. Wafer Fabs
Texas Instruments Secures $1.6 Billion in CHIPS Act Funding for U.S. Wafer Fabs
Slice of Manufacturing Team
August 20, 2024
Key Highlights:
$1.6 billion in proposed direct funding from the CHIPS Act to support TI’s wafer fabs in Texas and Utah.
$6-8 billion in investment tax credits expected from the U.S. Treasury for manufacturing investments.
Expansion of 300mm manufacturing operations to secure a dependable supply of semiconductors.
Creation of 2,000+ jobs across Texas and Utah, supporting a future-ready workforce.
Source (PR Newswire)
Notable Quotes:
"The historic CHIPS Act is enabling more semiconductor manufacturing capacity in the U.S., making the semiconductor ecosystem stronger and more resilient."
"This investment in semiconductor manufacturing not only creates more jobs, but also brings supply chains back to the United States."
Our Take:
Texas Instruments' strategic move to secure substantial funding under the CHIPS and Science Act underscores the critical importance of bolstering domestic semiconductor manufacturing. This initiative not only aligns with the U.S. government's broader goals of enhancing national security and technological leadership but also fortifies TI's position in the global semiconductor market. The combination of direct funding and significant tax credits will enable TI to expand its 300mm manufacturing capabilities, ensuring a reliable supply of analog and embedded processing semiconductors. This investment is a testament to TI's commitment to innovation, sustainability, and the future of American manufacturing.