Samsung to Get $6 Billion in U.S. Expansion Funds, Bloomberg Reports
--Samsung Electronics could get a $6 billion windfall from U.S. federal funds aimed at getting semiconductor companies to make chips in the country, Bloomberg reports, citing people familiar with the matter.
--According to the Bloomberg report, the money from the 2022 Chips and Science Act would come with significant additional U.S. investment by the South Korean company, and help it expand a $17 billion project in Texas.
--The award is one of several due to be doled out by the U.S. Commerce Department in the coming weeks, with Samsung competitor TSMC also in line to receive a grant, Bloomberg reports.
--Samsung Electronics declined to comment when approached by Dow Jones Newswires.
Full story: tinyurl.com/2aehw86f
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
March 15, 2024 01:19 ET (05:19 GMT)
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