Published November 29, 2021
The tech giant looks to ease the global shortage of chips used in phones, cars and other devices.
Samsung said it plans to build a $17 billion semiconductor factory outside of Austin, TX. “This is the largest foreign direct investment in the state of Texas, ever,” Gov. Greg Abbott said.
The chip shortage has emerged as both a business obstacle and a serious U.S. national-security concern. Short supplies of semiconductors kicked off by COVID-era shutdowns have hampered production of new vehicles and electronic devices for more than a year. New questions of economic and national security are also at stake since many U.S. companies are dependent on chips produced overseas, particularly in Taiwan, which China has long claimed as its own territory. Read the full AP story here.
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