01:24 PM EST, 12/20/2024 (MT Newswires) -- Texas Instruments ( TXN ) and the US Department of Commerce said Friday that the company was awarded up to $1.6 billion in direct funding for new semiconductor manufacturing facilities.

The funding was granted under the CHIPS and Science Act and will support three 300 millimeter wafer fabrication facilities under construction in Texas and Utah, according to a joint statement.

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