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Texas Instruments awarded $1.6 billion in CHIPS Act funding for domestic silicon production

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Summary
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Texas Instruments is the latest recipient of CHIPS Act funds.

The 2022 law was signed by President Biden to boost domestic silicon production in the face of increasing Chinese chip imports.

The CHIP Act was designed to curtail China ’s influence as silicon becomes more of an essential global resource.

Other recipients include Intel ( $8.5 billion ) and Samsung ( $6.4 billion ).