Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4

Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4
Samsung’s US Chip Plant Costs Surge By $8B As Inflation Bites – Samsung Electronics Co (OTC:SSNLF) – Stocks to Watch
  • Fri. May 17th, 2024
Top Tags
Stocks

Samsung’s US Chip Plant Costs Surge By $8B As Inflation Bites – Samsung Electronics Co (OTC:SSNLF)

ByAnusuya Lahiri

Mar 16, 2023
Samsung's US Chip Plant Costs Surge By $8B As Inflation Bites - Samsung Electronics Co (OTC:SSNLF)

[ad_1]

  • Samsung Electronics Co, Ltd’s SSNLF Taylor, Texas chip plant will cost over $25 billion, up more than $8 billion from initial forecasts.

  • Inflation led to the surge in the cost, Reuters reports citing familiar sources.

  • Any delay in the construction will further drive the costs up. The higher construction cost is about 80% of the cost increase.

  • Also Read: Samsung Earmarks $229B To Cement Korea’s Chip Building Position As US – China Intensifies

  • The U.S. grants will only cover up to 15% of the cost of new plants. 

  • Under the CHIPS Act grants, only $39 billion is available for direct investment in plant construction. At the same time, the cost of labor has risen sharply, along with the price of construction materials like steel. The rising costs could push up the cost of substantial spending plans.

  • Taiwan Semiconductor Manufacturing Company Ltd TSM, Intel Corp INTC, and Micron Technology, Inc MU have voiced their ambitious investment plans for the U.S.

  • Reportedly, Samsung is rushing to finish the plant by 2024 to produce chips by 2025, which would put the company ahead of a 2026 deadline to secure investment tax credits on tools for the factory.

  • Samsung had already spent as much as half of the $17 billion initially projected for the Taylor site and might eventually build additional factories.

  • Photo by Pierre Lecourt via Flickr

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

[ad_2]

Image and article originally from www.benzinga.com. Read the original article here.

Anusuya Lahiri

Related Post


Notice: Function WP_Object_Cache::add was called incorrectly. Cache key must not be an empty string. Please see Debugging in WordPress for more information. (This message was added in version 6.1.0.) in /home/stockstowatch/public_html/wp-includes/functions.php on line 5835
Stocks
Latin American Wedding brides How To Find a Latin Partner? By Walt Tevis Marly, 2024
May 10, 2024
Stocks
Finest Courting Programs For Severe Relationships In 2024
May 4, 2024
Stocks
Red Pine Announces Upsize of Previously Announced Private Placement to C$6.8 Million – Red Pine Exploration (OTC:RDEXF)
Mar 31, 2023 Globe Newswire

You missed

Stocks
Stocks
Stocks
Technology