Biden Touts $40B Samsung Deal to Build Semiconductor Plants in Texas, Creating Over 20,000 Jobs

Biden touts $40B Samsung deal to build semiconductor plants in Texas, creating at least 21,500 jobs
Deal includes $6.4B in direct funding from 2022 CHIPS Act to develop chip manufacturing cluster
Funding to expand Samsung's existing Austin facility and build 2 advanced 4nm & 2nm chip factories
Part of administration's goal to boost domestic chip production to 20% of world's leading edge chips
Comes after $8.5B funding deal for Intel chip plants; aims to regain US leadership in semiconductor industry