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Samsung Gambles on Texas to Strengthen U.S. Presence [Video]

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South Korea News

While the booming AI market has propelled Nvidia to being the second largest semiconductor supplier behind Intel, Samsung has slipped to the third largest supplier, due in part to slumping demand for memory over the past year. While memory is expected to bounce back in 2024, Samsung also hopes that a stronger onshore presence will help the South Korea-based semiconductor supplier regain some of its lost momentum.

To this end, Samsung recently received $6.4 billion in funding from the CHIPS Act, and the company is pouring those funds to strengthen its North American manufacturing presence. Far from being a stranger on U.S. soil, the company is expanding its manufacturing facility in Taylor, TX, which has been in operation since 1996. The additional investment through the CHIPS and Science Act means Samsung will invest more than $40 billion in the region in the coming years as one of the largest foreign direct …

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