The Biden administration is awarding Samsung (005930.KS) up to $6.4 billion to build and upgrade its chipmaking facilities in central Texas. The grant was awarded as part of the CHIPS and Science Act, which aims to boost chipmaking in the United States. In the video above, Yahoo Finance's Seana Smith and Madison Mills discuss the announcement. For more expert insight and the latest market action, click here to watch this full episode. This post was written by Stephanie Mikulich.
The Biden administration is awarding Samsung (005930.KS) up to $6.4 billion to build and upgrade its chipmaking facilities in central Texas. The grant was awarded as part of the CHIPS and Science Act, which aims to boost chipmaking in the United States.
In the video above, Yahoo Finance's Seana Smith and Madison Mills discuss the announcement.
For more expert insight and the latest market action, click here to watch this full episode.
This post was written by Stephanie Mikulich.
↗️ **Goldman Sachs (GS)**: The bank's earnings blew past Wall Street expectations, boosted by a jump in investment-banking revenue. Its stock was nearly 4% higher in morning trading. ↘️ **Tesla (TSLA)**: The EV maker will cut more than 10% of its workforce globally as it grapples with dimming growth prospects.
The Wall Street Journal•
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Reuters•
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Bloomberg•