Chipmaker invests $60B as Trump vows to lift US manufacturing
Chipmaker Texas Instruments plans to plough $60billion, or around £44.7billion, into domestic production, in a boost for US manufacturing. The US company confirmed it planned to construct or expand seven chip-making sites at three locations in Texas and Utah, while creating 60,000 jobs.
Tech firms are under pressure from Donald Trump's administration to rapidly boost manufacturing capabilities in the country. Dallas-based Texas Instruments described the plans as the 'largest investment in foundational semiconductor manufacturing in US history'.
However, it did not provide a timeline for its proposed US investment. Last week, semiconductor manufacturing firm Micron said it would up its planned spending in the US to $200billion.
Last summer, Texas Instruments announced it could build seven chip-building facilities and spend up to $40billion on its Sherman, Texas operations, and $21billion on Utah and other Texas plants.
Unlike artificial intelligence chip firms Nvidia and AMD, Texas Instruments makes analog or foundational chips used in everyday devices like smartphones, cars and medical devices, giving it a large client base that includes Apple, SpaceX and Ford Motor.
Certain analysts have said they see the spending plans as overtures to Trump, who has repeatedly threatened to kill the $52.7billion 2022 CHIPS and Science Act and warned of potential new tariffs on semiconductor imports.
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