Samsung pumps $17bn in Texas to hedge chip risk

SEOUL – Samsung Electronics on Wednesday (November 24) announced the site of its new US$17 billion semiconductor fab in Texas, confirming details of a long-planned investment.

Given the vast scale and immense value of the plant, the announcement had been long signaled and even featured as a talking point in the presidential summit held between Joe Biden and Moon Jae-in in Washington in May.

The new facility will make advanced logic chips, rather than memory chips, using advanced process technologies for application in areas such as mobile, 5G, high-performance computing and artificial intelligence, Samsung said in a statement posted on its website.

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