Samsung is building a chip factory for 150 billion in the USA

Samsung is building a chip factory for 150 billion in the USA

The lack of semiconductors has shed light on how dependent the US and the EU are on functioning supply chains and local production has become strategically important.

And now Samsung has decided to build a factory for advanced chips for mobiles, 5G, high-performance computer systems and AI in Texas. This involves an investment of 17 billion dollars, just over 150 billion kronor and around 2,000 jobs. In addition, there are 6,500 jobs to build the facility, reports Reuters.

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In 2024, production is expected to start.

Brian Deese, head of the US National Economic Council, the White House’s economic policy body and security adviser Jake Sullivan, welcomes Samsung’s investment and says in a comment that it is President Biden’s top priority to secure US supply chains.

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“We will continue to use all tools and strive for every path to invest in our power sources such as manufacturing and technology,” they said in the statement.

With the construction, Samsung joins rivals TSMC and Intel in the competition for chip manufacturing in the US, where President Joe Biden has promised billions in government funding. The aim is to increase chip production and research and thus gain an edge over China in terms of advanced technology.

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