Samsung plans to expand its semiconductor operations in Texas, thanks to a $6.4B grant from the US government. The 2022 Chips and Science Act provides money to improve chip production for critical sectors such as automotive, aerospace, and defense, while also boosting national security.
The South Korean IT behemoth isn't stopping there; it intends to invest an extra $45 billion on the Texas site by 2030. As the globe faces a frightening chip scarcity that affects many industries, AI pioneers such as OpenAI are considering producing their chips, with potential investment from the UAE's MGX group.
This shortage also threatens the Bitcoin mining sector, particularly as the projected Bitcoin halving approaches. Notable companies including Riot Platforms and CleanSpark have identified chip availability as a major risk to profitability in their operations.
Samsung's plan to expand its production capacity in the United States might be a game changer, delivering a much-needed supply of semiconductors to tech-dependent industries such as artificial intelligence and cryptocurrency.
