DOC finalized semiconductor awards totaling nearly $7 billion to Samsung, Texas Instruments and Amkor

The U.S. Department of Commerce on Friday announced its awards to Samsung, Texas Instruments and Amkor Technology under the CHIPS stimulus program, which total more than $6.75 billion. The program aims to help expand domestic semiconductor manufacturing. Samsung received up to $4.745 billion in direct funding – a smaller amount than the which was announced earlier this year – while to $1.61 billion and Amkor to $407 million.

Samsung plans to invest $37 billion over the next few years to increase chip development and production in the U.S., the DOC said. The company will expand its operations in Texas to include two new manufacturing facilities and a research and development site. It also plans to expand an existing facility in Austin. Texas Instruments is working to build three new facilities — two in Texas and one in Utah — in which it says it will invest more than $18 billion by 2029. Amkor plans a $2 billion investment to create an advanced packaging and testing facility in Peoria, Arizona. According to it will be the largest facility of its kind in the country.

The Commerce Department says the awards will be handed out when companies complete certain project milestones. The funding is expected to support the creation of thousands of jobs for each project.