President Joe Biden has touted a deal with Samsung to build new semiconductor chip plants in Texas.
The Biden administration reached an agreement to provide up to $6.4 billion in funding to the South Korean tech giant to build facilities in the state.
“This announcement, will unleash over $40 billion in investment from Samsung, and cement central Texas’s role as a state-of-the-art semiconductor ecosystem, creating at least 21,500 jobs and leveraging up to $40 million in CHIPS funding to train and develop the local workforce,” Biden said in a statement on Monday.
This is a breaking news story and will be updated.
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.