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Texas Instruments (NASDAQ:TXN) said it plans to invest over $60B across seven U.S. semiconductor fabs, making this the largest investment in foundational semiconductor manufacturing in U.S. history.
Shares of Texas Instruments rose about 1% on Wednesday.
The company said its new manufacturing mega-sites in Texas and Utah will support more than 60,000 U.S. jobs.
“TI is building dependable, low-cost 300mm capacity at scale to deliver the analog and embedded processing chips that are vital for nearly every type of electronic system,” said Haviv Ilan, president and CEO of Texas Instruments.
Texas Instruments added that its largest mega-site in Sherman, Texas includes investment of up to $40B for four fabs: SM1 and SM2 — which are already underway — and two additional fabs, SM3 and SM4.
The company said that the first new fab in Sherman will start initial production this year, just three years after breaking ground. Construction is also complete on the exterior shell of SM2, the second new fab in Sherman.
Texas Instruments noted that U.S. companies Apple (NASDAQ:AAPL), Ford (NYSE:F), Medtronic (NYSE:MDT), Nvidia (NASDAQ:NVDA) and SpaceX have strengthened their partnerships with the company for the next era of American innovation.
Texas Instruments said that Nvidia is partnering with it to unleash the next generation of AI architectures.
“NVIDIA and TI share the goal to revitalize U.S. manufacturing by building more of the infrastructure for AI factories here in the U.S.,” said Nvidia’s Founder and CEO Jensen Huang.
Last year in December, Texas Instruments announced that it had finalized a $1.6B award from the Biden administration’s $53B CHIPs Act to help it expand its plants in Texas and Utah.
After President Donald Trump came to power for his second term at the White House, Biden’s CHIPs Act has come under scrutiny from the new administration.
In March, Taiwan Semiconductor (NYSE:TSM) said it will invest $100B in new capital in the U.S. over the next four years as the company looks to boost its presence in the U.S.