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On August 16, the U.S. Department of Commerce announced that it would provide Texas Instruments with $1.6 billion in subsidies and $3 billion in loans under the Chip Act to help it build a plant in Utah and two plant projects in Texas. The projects are expected to cost about $18 billion by the end of 2029 and are expected to create about 2,000 manufacturing jobs and thousands of construction jobs.

The Chip Act subsidy funds will be used specifically to support the construction of Texas Instruments' three 300mm fabs. This includes two phases at SM Fab in Sherman, Texas (which will eventually include four phases) and one phase at Lehi Fab in Utah. The Texas fab will use specialized 130nm-28nm process technology to produce analog and embedded system chips, while the Lehi facility in Utah will be reinstalled with new equipment.

Under the terms of the agreement, Texas Instruments will use subsidy funds from the U.S. Chip Act to provide equipment for SM1's clean room (SM Fab Phase I), build infrastructure for SM2, and reinstall new equipment for the Lehi, Utah facility that Texas Instruments acquired from Micron.

The Texas fab will use specialized 130nm-28nm process technology to produce analog and embedded chips that are an essential component of a wide range of electronic devices, from automobiles to medical devices. These new fabs will be powered entirely by renewable energy and designed to meet the LEED Gold standard, which emphasizes structural efficiency and environmental responsibility.

In addition to the funds, Texas Instruments expects to receive federal tax credits to cover 25 percent of the cost of building and equipping the plant with production equipment, which is estimated to be worth $6 billion to $8 billion.

Haviv Ilan, president and CEO of Texas Instruments, said: "The historic Chip Act is increasing semiconductor manufacturing capabilities in the United States and making the semiconductor ecosystem stronger and more resilient. As we expand our 300mm wafer manufacturing operations in the United States, our investment further strengthens our competitive advantage in manufacturing and technology." With plans to grow in-house manufacturing to more than 95% by 2030, we are massively building out our geopolitically reliable 300mm capacity to deliver the analog and embedded processing chips our customers will need in the coming years."

Us Commerce Secretary Gina Raimondo said: "Through this proposed investment in TI by the Biden administration, TI will be a global leader in the production of current generation and mature node chips, and we will help secure the supply chain for these fundamental semiconductors, which are used in every sector of the U.S. economy and create tens of thousands of jobs in Texas and Utah."

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