Samsung plans to invest $17 billion in the US chip factory to overcome chip shortage

by Ashish

It is said that last month, Samsung is considering spending 17 billion US dollars to build a new chip factory in the United States. Moving forward, South Korean media recently reported that the company will announce its plans to build a new chip factory at the end of this month.

It is understood that Samsung Electronics plans to build a new chip factory in the United States, which will begin construction in the third quarter of this year and will start production after completion. This new chip factory is bound to help the industry recover from the global chip shortage.

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Because the chip production plant is relatively complex and requires a large amount of advanced equipment, it will take some time for Samsung Electronics’ factory to be built and put into production. The report also recommends that Samsung plans to start operations in 2024.

In addition, the South Korean technology giant is expected to build a chip factory in Austin, Texas, and it already operates a chip factory in Austin. In addition, some documents show that Austin is one of the potential areas where Samsung is considering building a new chip factory with an investment of $17 billion, which will create 1,800 new jobs.

Samsung is the only South Korean company that participated in the White House online meeting last month to discuss the global semiconductor shortage. According to reports, the company has been re-invited to participate in a virtual meeting hosted by U.S. Secretary of Commerce Gina Raimundo on Thursday.

(Via)

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