US semiconductor firm Texas Instruments could receive up to $1.6bn in funding from the US Department of Commerce to support the development of three 300mm wafer fabs currently under construction in Texas and Utah.
A non-binding preliminary memorandum of terms has been signed for the capital and, if approved, the funds will be distributed under the CHIPS and Science Act.
Read more: President Biden signs $52bn CHIPS Act into law
In addition to the CHIPS Act capital, Texas Instruments also expects to receive around $6bn to $8bn from the US Department of Treasury’s Investment Tax Credit for qualified US manufacturing investments.
... to continue reading you must be subscribed
