Biden adds Samsung to growing list of CHIPS Act funding recipients in support of AI technologies

The Biden administration has announced a preliminary agreement with Samsung Electronics to build out semiconductor manufacturing operations at two sites in central Texas with direct funding of up to $6.4 billion under the CHIPS and Science Act and $40 billion in private investments by the company, adding to a growing list of advanced technology companies that have received support from the CHIPS Act in the last few months.

“The proposed investment would turn Samsung’s existing presence in Texas into a...