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Samsung plans on building a new $17 billion semiconductor plant in Texas

Samsung plans on building a new $17 billion semiconductor plant in Texas

The new plant will be located in the city of Taylor. According to expectations, the plant will provide 1.8 thousand new jobs, while its construction and setup will cost $17 billion. The plant won't be operational until the end of 2024.

Internal sources of The Wall Street Journal reported on plans to locate the plant in Texas. After this communication, a company spokesman said that a final decision had not yet been reached. 

New microchip production will prevent future semiconductor shortages, and the U.S. location will be some sort of insurance against the political influence of China. 

The new plant is part of Samsung's expansion strategy in various areas, including semiconductors, artificial intelligence, robotics, and biopharmaceutics. The plan includes $205 billion in funding and the hiring of 40,000 employees. Most of the funding will be used in South Korea. 

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