US to pay Samsung $6 billion to boost chip production in America: report

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In A significant development, Samsung Electronic Co. SNLF East would have on THE edge of to secure on $6 billion Since THE WE. government has develop It is chip manufacturing operations In THE country.

What Arrived: As by A Bloomberg report released on THURSDAY, quoting people familiar with THE matter, THE WE. East gear up has provide more that $6 billion has Samsung. This funding will would have to assist THE technology monster In enlargement It is operations beyond A previously announcement project In Texas.

THE financial help, part of THE 2022 Fleas And Science Act, East A of several substantial price that THE Trade Department East expected has announce In THE future weeks.

This Also understand A to agree of on $5 billion has Samsung Asian rival, Taiwan Semiconductor Manufacturing Co. TSM, according to has sources WHO selected has stay anonymous in front of THE official declarations.

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For what He Imported: This funding means A crucial stage In THE WE. Governments efforts has bolster domestic chip production in the middle of A global semiconductor shortage. THE move East part of A wider initiative has reduce addiction on stranger chip manufacturers And ensure A constant provide of semiconductors, which are vital Components In A wide range of electronic devices.

For Samsung, THE funding will provide A significant booster has It is expansion plans In THE WE. THE business had previously announcement A project In Texas, And This additional funding will enable he has to broaden It is operations beyond THE Alone Star Status.

In the meantime, THE to agree has TSMC underlines THE Governments commitment has to favor competition In THE chip manufacturing industry. This could potentially lead has advances In chip technology And lower prices For consumers.

As of 10:09 a.m. am. Seoul, Samsung Electronic East trade has 73,600 won, down 700 won (0.94%).

Price Action: TSM actions on THE New York stock market farm 2.14% lower has $139.10, according to to the data Since Benzinga Pro.

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