U.S. finalizes $4.7 billion chip subsidies for Samsung Electronics

The U.S. Department of Commerce said it will provide up to $4.745 billion in direct funding to South Korean chipmaker Samsung Electronics to support Samsung Electronics' chip manufacturing investment in central Texas, the U.S. Department of Commerce said the funding will support Samsung Electronics' investment of more than $37 billion in the coming years to transform the company's existing semiconductor business in central Texas into a comprehensive semiconductor ecosystem to develop and produce cutting-edge chips in the United States.