Samsung considers four sites in U.S. for $17 billion chip plant

Samsung overtakes Intel to become the world’s largest chipmaker

Samsung Electronics Co Ltd is considering two sites in Arizona and another one in New York in addition to Austin, Texas, for a new $17 billion chip plant, according to documents filed with Texas state officials.

The documents dated Feb. 26 also estimated tax abatements concerning the plant will be about $1.48 billion over 20 years from Travis County in Texas and the city of Austin, up from the $805.5 million previously mentioned.

Samsung is in talks with the sites at Arizona and New York, with each offering property tax abatement and “significant grants and/or refundable tax credits” to fund infrastructure improvements, the documents said.

The new plant Samsung plans to build would produce “advanced logic devices” for Samsung’s chip contract manufacturing business, and could create 1,800 jobs, according to previous documents filed with Texas state officials.

Samsung already has a chip plant in Austin, which due to shutdowns caused by a winter storm last month is expected to need some weeks to resume production.

Samsung’s U.S. customers for its contract manufacturing chip business include Tesla Inc, Qualcomm Inc and Nvidia.

Samsung is considering a number of possibilities in terms of expansion, a spokesman for the South Korean firm told Reuters on Wednesday, without elaborating.

Taiwan and Korea produce 83% of all processor chips Back in the 70s and 80s, the Organization of the Petroleum Read more

Navin Shenoy, the vice president of Intel, said in a statement that “this acquisition advances our artificial intelligence strategy, which Read more

Netflix remains a leader in the streaming entertainment sector , although it did not reach the goal of exceeding 210 million subscribers. The streaming  entertainment Read more

Evergrande shares are up more than 1,000% in one year The 'boom' of the electric car that China is experiencing Read more

The company, specializing in voice technology and artificial intelligence, could become the second largest acquisition of the software giant Microsoft Read more

The stock rises 18% pending details of the venture capital proposal The shares of the Toshiba conglomerate - known for Read more

The situation will cause factories to stop and more costs. There will be manufacturers of technological devices that will launch fewer Read more

Europe's emissions trading has become a speculative market, where funds and investors want to make a killing. Just a year Read more

The purchase of Athene clarifies its relationship with the insurance company, but obscures the value of the rest of its Read more

The bankruptcy of the financial company highlights the risks of helping companies pay their suppliers

The bankruptcy of the financial company highlights the risks of helping companies pay their suppliers The supply chain finance party Read more

Leave a Reply