Computer chip giant Texas Instruments (TI) will invest more than $60 billion (£44.74 billion) in the United States as President Donald Trump puts pressure on big technology companies to increase the country’s manufacturing industry.
The company said it plans to build or expand seven chip facilities at three locations in Texas and Utah and create 60,000 jobs. TI does not provide a detailed timetable for investment.
The Dallas-based company described the move as “the largest investment in basic semiconductor manufacturing in U.S. history.”
It follows similar announcements for other semiconductor manufacturing, including Micron, which said last week that it would increase planned spending in the U.S. to $20 billion.
U.S. Commerce Secretary Howard Lutnick, “President Trump has become a priority for increasing the U.S. semiconductor manufacturing industry.” Wednesday’s statement said.
“Our partnership with TI will support our chip manufacturing industry in the coming decades.”
Like some other companies that announced major spending commitments, TI’s announcement includes funds designated for building or expanding the facility.
Some analysts say they see such major spending announcements as an attempt to appease Trump. The president has repeatedly threatened to remove the $52.7 billion chip and scientific law, which was proposed by his predecessor, Joe Biden.
The Biden administration provided TI with $1.6 billion in subsidies after announcing plans to invest at least $18 billion in three new facilities last December.
Trump also warned of potential new tariffs on semiconductor imports.
Unlike artificial intelligence chip companies like NVIDIA, Texas Instruments makes so-called basic chips that are used in a variety of devices, including smartphones and cars.
The company has 15 websites around the world, including facilities in the United States and Asia. It counts customers of iPhone-MMM-Apple, Elon Musk’s Rocket Firms SpaceX and automotive industry giant Ford.
Texas Instruments faces growing competition from Chinese manufacturers with these low-end chips.
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