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Samsung likely to receive over $6 bln from US for further investment, Bloomberg News reports

A visitor uses a Samsung Electronics' flagship smartphone Galaxy S24 at its launching event in Seoul, South Korea, January 15, 2024

March 14 (mod1s) - The U.S. wants to pay more than $6 billion to Samsung Electronics Co (005930.KS), opens new tab, helping the chipmaker grow beyond a project in Texas it has already disclosed, Bloomberg News said on Thursday, citing individuals familiar with the subject.
Samsung refused to respond.
The South Korean business, like other chipmakers, has been anticipating the award from the U.S. government via the CHIPS Act, aimed at scaling up chip manufacturing in the United States.

It is presently developing a chip facility in Taylor, Texas, with prices soaring beyond $25 billion compared to its original estimate of $17 billion, according to sources last year.


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