Samsung Is Building A $17 Billion Chip Plant in The U.S.

Samsung Electronics said it planned to invest about $17bn to build a semiconductor manufacturing plant in Tyler, Texas.It is the latest big chip plant construction investment this year amid a global processor shortage. Samsung said the plant, which will be its largest investment in the United States, produces high-end chips for devices like smartphones and artificial intelligence applications.

Construction of the plant is scheduled to begin next year, and chip production is expected to begin in the second half of 2024.