Texas Instruments (TI) (NASDAQ: TXN) and the U.S. Department of Commerce have signed a non-binding Preliminary Memorandum of Terms for up to $1.6 billion in proposed direct funding under the CHIPS and Science Act to support three semiconductor wafer fabrication facilities already under construction in Texas and Utah. In addition, TI expects to receive an estimated $6 billion to $8 billion from the U.S. Department of Treasury’s Investment Tax Credit for qualified U.S. manufacturing investments.
A Texas Instruments fabrication facility under construction in Sherman, Texas.
The proposed direct funding, coupled with the investment tax credit, would help TI provide a
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