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Samsung to double investment in Texas fab, spend $44 billion to build leading-edge chips: Report – Tom's Hardware

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(Image credit: Samsung)

Samsung Foundry is set to significantly boost its semiconductor investment in its upcoming fab complex in Taylor, Texas to around $44 billion, reports the Wall Street Journal. Apparently, the company plans to build another advanced fab in Taylor, Texas, and expand R&D operations at the site. 

The bulk of Samsung’s expanded investment will be directed towards Taylor, Texas, where the company is establishing an all-new semiconductor hub. This hub will include the already announced $17 billion state-of-the-art chip production facility and will add another fab module, an advanced packaging facility, and a research and development center. The second fab module that will be adjacent to the first one is projected to cost over $20 billion, which highlights Samsung’s long-term commitment to the region. 

To support this extensive expansion in Texas, Samsung is anticipated to receive substantial financial aid from the U.S. government under the CHIPS & Science Act. The South Korean tech giant is expected to be one of the largest single recipients of these funds, highlighting the significance of its investment in the U.S. semiconductor industry. 

Samsung has not formally confirmed its expanded plans in Texas, but according to WSJ sources familiar with the matter, Samsung will held a ceremony to unveil its additional investments on April 15, 2024. 

Despite facing challenges such as inflation, rising labor and material costs, the company is moving forward with its plans in the USA, with the first factory set to begin mass production in 2024, if everything goes well, according to the report. 

In addition to chip production, Samsung is focusing on high bandwidth memory (HBM), a crucial component for AI computing. The company is also investing in advanced packaging techniques, such as 2.5-D and 3-D packaging, to enhance data-processing speeds. These technological advancements are essential for maintaining Samsung’s competitive edge in the rapidly evolving semiconductor industry. 

The new additions to Samsung’s Taylor, Texas, campus are expected to play a crucial role in advancing Samsung’s positions in the U.S. as well as America’s position in the global semiconductor industry. In a bid to be competitive with Intel and TSMC in the U.S., Samsung will need to offer advanced production capabilities here, which includes producing chips at nodes below 4nm. Meanwhile, competing against Intel will be particularly hard as the company is building up several leading-edge fabs in America and two of its fabs in Arizona that are coming online shortly are capable of making chips on Intel 18A and 20A (1.8nm and 2nm-class) process technologies.

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Freelance News Writer

Anton Shilov is a Freelance News Writer at Tom’s Hardware US. Over the past couple of decades, he has covered everything from CPUs and GPUs to supercomputers and from modern process technologies and latest fab tools to high-tech industry trends.

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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