The proposed $1.6 billion funding from the US government under the CHIPS and Science Act aims to boost domestic semiconductor production, addressing national security concerns.
Commerce Secretary Gina Raimondo stated, 'During the pandemic, shortages of current-generation and mature-node chips fueled inflation and made our country less safe,' highlighting the critical need for domestic semiconductor production.
Texas Instruments plans to invest over $18 billion to build three new facilities in Texas and Utah, which will create more than 2,000 manufacturing jobs.
Texas Instruments CEO Haviv Ilan emphasized a commitment to growing in-house production to over 95% by 2030, ensuring 'geopolitically dependable' capacity to meet demand.
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