Texas Instruments awarded $1.6bn in US CHIPS funding

The US Department of Commerce has signed a memorandum of terms with Texas Instruments that could see the company awarded $1.6 billion in CHIPS and Science Act funding which would support Texas Instrument’s plans to invest $18bn in the construction of two fabs in Sherman, Texas, and one in Lehi, Utah. 
 

Under the terms of the agreement, Texas Instruments has committed to working with 40 community colleges, high schools, and military institutions across the US to help upskill employees, expand internship opportunities, and create pipeline programs with a focus on electronic and mechanical skills.

“Our investments further strengthen our competitive advantage in manufacturing and technology as we expand our 300mm manufacturing operations in the US,” said Haviv Ilan, president and CEO of Texas Instruments. “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.”