Texas instruments secures $1.6 billion U.S. funding for new chip facilities

Austin: Texas Instruments announced on Friday that it will receive up to 1.6 billion dollars in funding from the U.S. Commerce Department. This significant investment, made under the U.S. CHIPS and Science Act, will support the construction of three new semiconductor manufacturing facilities—two in Texas and one in Utah.

The funding is part of a broader effort by the U.S. government to strengthen domestic chip production in the face of global supply chain challenges. Texas Instruments has committed more than 18 billion dollars to these projects through 2029, which are anticipated to create approximately 2,000 manufacturing jobs.

In addition to the Commerce Department's support, Texas Instruments expects to receive between 6 billion dollars and 8 billion dollars in investment tax credits from the U.S. Treasury Department, alongside 10 million dollars in workforce development funding.

CEO Haviv Ilan highlighted the company's ambitious plans, stating, "With plans to grow our internal manufacturing to more than 95 percent by 2030, we're building geopolitically dependable, 300mm capacity at scale to provide the analog and embedded processing chips our customers will need for years to come."

The new facilities are expected to bolster the company’s capacity to meet future demand for analog and embedded processing chips, essential components in various electronics and industrial applications.