Texas Instruments announces $60B investment in US chip manufacturing
What's the story
Texas Instruments, a leading player in the semiconductor industry, has announced its plan to invest over $60 billion in the United States.
The investment will be used to build or expand seven chip-making facilities across Texas and Utah.
The company said this is the "largest investment in foundational semiconductor manufacturing in US history."
The move is expected to create some 60,000 jobs.
This is in line with the Trump administration's push for more US-based chip manufacturing.
Strategic alignment
Investment aligns with Trump's push for domestic semiconductor production
The decision by Texas Instruments comes as part of a broader strategy to boost domestic semiconductor production.
The company's investment will go toward building or expanding facilities, a move that has been seen as an effort to align with President Trump's focus on increasing domestic semiconductor production.
Other companies such as chip designer NVIDIA have also announced plans for massive investments in US-based semiconductor production facilities.
Investment focus
Investment primarily in foundational or legacy semiconductors
The investment by Texas Instruments will primarily be in foundational or legacy semiconductors.
These are the basic building blocks of modern electronics and are used in a wide range of devices from smartphones to cars.
The company already has 15 sites globally, including in the US and Asia, and counts tech giants like Apple, SpaceX, and Ford among its customers.