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Technology

Samsung unveils $17bn investment for Texas chip plant

South Korean tech titan thanks Biden amid moves to solidify global supply chain

Samsung's existing facility in Texas. The company plans to build an additional factory in the U.S. state as Washington presses for more chipmakers to bring capacity onshore. (Photo courtesy of Samsung)

SEOUL -- Samsung Electronics on Wednesday announced it will invest $17 billion to build new foundry chip production lines in the U.S. state of Texas, as President Joe Biden pushes to bring more semiconductor manufacturing onshore.

The South Korean chipmaker said it will break ground on the advanced semiconductor fab site in Taylor, near Austin, in the first half of 2022, targeting the second half of 2024 to have the facility operational.

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