Aiming to upgrade facilities in the US, Texas Instruments plans to boost the global semiconductor supply chain with the $60 billion investment.
Texas Instruments has announced an investment of more than $60 billion to support the development and expansion of seven manufacturing plants across the two states, Texas, and Utah, with plans to create approximately 60,000 jobs.
Furthermore, a portion of this investment includes previously announced expenditures, such as a $18 billion commitment to new plants in Texas. According to a report by The Economic Times, that project has already qualified for a $1.6 billion federal subsidy under a broader initiative to support domestic semiconductor production.
Texas Instruments described the initiative as the largest-ever investment in foundational semiconductor manufacturing in US history. However, it has not yet provided a specific timeline for the completion of the facilities.
Welcoming the announcement, US Secretary of Commerce Howard Lutnick emphasised its long-term benefits for the US industry. He added that the expansion aligns with federal efforts to increase local production and reduce reliance on overseas suppliers.
TI focuses on foundational chips, which are essential components in products such as smartphones, vehicles, and industrial equipment. It differs from companies like NVIDIA, which primarily focus on chips used for artificial intelligence (AI).
Moreover, the company currently operates 15 manufacturing sites worldwide and serves major clients including Apple, SpaceX, and Ford. It also faces growing competition from Chinese manufacturers in the foundational chip segment, adding urgency to its expansion efforts.
