Texas Instruments awarded $1.6 billion in CHIPS Act funding for domestic silicon production

Texas Instruments is the latest recipient of CHIPS Act funds. The 2022 law, signed by President Biden to boost domestic silicon production in the face of increasing Chinese chip imports, will award TI $1.6 billion in grants. The company will also receive $3 billion in loans and tax credits that could amount to $6 to $8 billion. The effort is expected to create over 2,000 US manufacturing jobs at Texas Instruments' new plants and "thousands of indirect jobs" for construction, suppliers and suppor...