Texas Instruments Finalizes Chips Act Award, Gets $1.6 Billion

Bloomberg12-21

(Bloomberg) -- Texas Instruments Inc. signed a final agreement for $1.6 billion in government grants to support construction of new semiconductor plants in the US, cementing another major part of the ...

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It largely matches a preliminary accord announced in August. Like other recipients, the company declined to take loans offered under its initial agreement.The Chips Act, signed into law by President Joe Biden in 2022, set aside $39 billion in grants, loans and loan guarantees worth $75 billion, and 25% tax credits to boost American semiconductor production after decades of manufacturing shifting abroad. Officials have divvied up most of that money, and Commerce Secretary Gina Raimondo is racing to finalize as many deals as possible before leaving office.Texas I","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","BK4588":"碎股","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","LU0345774631.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) INC","IE00BYQQ9H92.USD":"BNY MELLON GLOBAL LEADERS \"A\" (USD) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","BK4561":"索罗斯持仓","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","BK4581":"高盛持仓","SG9999011175.SGD":"Nikko AM Global Dividend Equity Dis SGD-H","BK4512":"苹果概念","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","LU2413666426.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (HKD) ACC","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","IE0008368304.USD":"STEWART INVESTORS WORLDWIDE LEADERS SUSTAINABILITY FUND \"I\" (USD) ACC","LU2129689431.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) ACC","LU2413666699.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"CRH\" (HKDHDG) INC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0557290698.USD":"施罗德环球可持续增长基金","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","LU2129689514.USD":"FRANKLIN GLOBAL INCOME \"A\" (USD) INC","TXN":"德州仪器","LU0345774391.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) ACC","BK4554":"元宇宙及AR概念","LU2129689605.HKD":"FRANKLIN GLOBAL INCOME \"A\" (HKD) INC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU0347712357.USD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (USD) ACC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU1046421795.USD":"富达环球科技A-ACC","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","BK4141":"半导体产品"},"translate_title":"德州仪器敲定Chips法案奖励，获得16亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TXN":1},"content_text":"(Bloomberg) -- Texas Instruments Inc. signed a final agreement for $1.6 billion in government grants to support construction of new semiconductor plants in the US, cementing another major part of the Biden administrations’ Chips Act initiative. \nThe binding deal unveiled Friday by the company and the US Commerce Department means that Texas Instruments can begin receiving funds as projects in its home state and Utah hit negotiated benchmarks. It largely matches a preliminary accord announced in August. Like other recipients, the company declined to take loans offered under its initial agreement.   \nThe Chips Act, signed into law by President Joe Biden in 2022, set aside $39 billion in grants, loans and loan guarantees worth $75 billion, and 25% tax credits to boost American semiconductor production after decades of manufacturing shifting abroad. Officials have divvied up most of that money, and Commerce Secretary Gina Raimondo is racing to finalize as many deals as possible before leaving office. \nWhile most of the funding is slated for cutting-edge facilities by companies including Taiwan Semiconductor Manufacturing Co. and Intel Corp., lawmakers reserved cash specifically for so-called essential chips, like those made by Texas Instruments. \nTexas Instruments is the largest maker of analog chips and embedded processors. While these components don’t require the most advanced production, they’re increasingly important as everything from military equipment to household electronics gets more electronic functionality. \nFor example, as vehicles increasingly become home to powerful processors that coordinate automated driving and entertainment functions, they need a whole host of sensors, power converters, power management and motor control chips to bridge the gap between the digital and real world.\nSuch products have become an increasing focus of government rivalries. China has boosted its manufacturing capacity for analog and embedded chips in an attempt to try to make itself free from the need to import such vital components. \nTexas Instruments’ award will help fund three new large plants: two in Sherman, Texas and one in Lehi, Utah. They’ll create 2,000 new positions in the company, Texas Instruments said. \nThe chipmaker has said it plans to spend around $40 billion to build five new US factories: one in Utah and four in Texas. The government funding supports just the first two Texas factories, since officials are prioritizing projects that will be in production by the end of the decade. \nBeyond the grants announced Friday, the company also expects to receive as much as $8 billion in Chips Act tax credits, which can be applied to construction and tooling expenditures. \n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493642017"}