Texas Instruments Inc. (TXN), a leading player in the semiconductor sector, announced on Friday that it has entered into a preliminary agreement with the U.S. Department of Commerce to secure up to $1.6 billion in direct funding through the CHIPS and Science Act. These funds are allocated for semiconductor manufacturing facilities in Texas and Utah.
The financing will support the development of three 300mm semiconductor wafer fabrication plants currently under construction in these locations.
In addition, Texas Instruments anticipates receiving an estimated $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit for qualified investments in U.S. manufacturing.
The combination of this proposed funding and the investment tax credit is expected to enhance Texas Instruments’ capacity to produce 300mm wafers for analog and embedded processing semiconductors.
