Samsung reportedly secures $6B grant for U.S. chip expansion
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 9 April 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Show links:
Biggest stock movers today: MAXN, NTES, and more
PFAS ban in EU and U.S. could have negative implications for Amer Sports - analyst
Didi Global looks to mass produce robotaxi vehicles in 2025
HSBC to sell Argentina business for $550M, expects $1B pre-tax loss
Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, April 9th. I'm Julie Morgan. |
| 0:13.0 | Samsung is reportedly getting a $6 billion boost from the US. |
| 0:17.8 | Dollar stores are weighed down by a bankruptcy filing, |
| 0:21.2 | and Norwegian cruise lines places its largest order for new ships. |
| 0:26.0 | The Biden administration is expected to award more than $6 billion to Samsung Electronics next week to support the expansion of its chip production in Taylor, Texas. |
| 0:37.0 | People familiar with the matter told Reuters that the chip subsidy will go towards the construction of four facilities in the city. |
| 0:45.1 | This includes a $17 billion chip-making factory announced in 2021. |
| 0:50.3 | Another plant, an advanced packaging facility facility and a research and development center. |
| 0:55.7 | According to a source cited in the report the subsidy will also include an investment in another undisclosed location. As part of the deal Samsung will |
| 1:04.7 | more than double its investment in the US to more than $44 billion. |
| 1:09.3 | The award is expected to be the third largest of the program aimed at boosting local chipmaking. |
| 1:16.1 | We told you early Monday on Seeking Alpha that Taiwan's semiconductor manufacturing secured up to |
| 1:22.1 | $6.6 dollars in grants and about |
| 1:25.1 | five billion dollars in loans from the Department of Commerce and agreed to build a |
| 1:29.3 | third fab in Arizona. The largest award in the program was for Intel, which secured $8.5 billion in grants and up to $11 billion in loans to subsidize chip production. |
| 1:41.5 | This money is from the Chips and Science Act which provides |
| 1:44.7 | 52.7 billion dollars in R&D and manufacturing subsidies as well as 75 billion dollars |
| 1:51.6 | in loans although Samsung does not plan on taking loans. |
| 1:57.0 | Dollar stores were weighed down on Monday by the bankruptcy filing of 99 cents only. |
| 2:02.4 | Number Holdings, the parent company of 99 cents only. Number Holdings, the parent company of 99 cents only filed for bankruptcy protection on Sunday. The company said significant and lasting challenges in the retail environment have hindered its ability to operate. |
| 2:15.8 | It also cited the unprecedented impact of COVID-19, shifting consumer demand and persistent |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.