Proactive Investors - Samsung (KS:005930) is reportedly on course to become the latest technology firm offered billions by the US government to advance domestic chip manufacturing.
According to CNBC-cited sources, commerce department secretary Gina Raimondo will announce the US$6.6 billion subsidy next week.
This will aid the development of four sites in Taylor, Texas, including a US$17 billion chip-making facility, another factory, a research plant and a packaging center.
Investment in another undisclosed location is set to be announced, with Samsung also said to be preparing to double US spending plans to US$44 billion as part of the deal.
President Joe Biden’s government unveiled an US$11.6 billion package for Taiwan Semiconductor Mfg. Co. Ltd on Monday, including US$6.6 billion in grants, to support its Arizona chip production plans.
This followed Intel (NASDAQ:INTC) being awarded an US$8.5 billion grant last month to develop production sites in Arizona and Ohio.
The government spending comes after Congress approved the US$52.7 billion Chips and Science Act in 2022, aimed at boosting America's domestic semiconductor industry.
Funding for some US$75 billion worth of low-cost government loans was also approved, though Samsung is understood not to be planning to take such a facility.