HomeIndustriesGlobalWafers Plans to Build a $5 Billion Silicon Wafer Factory in Texas

GlobalWafers Plans to Build a $5 Billion Silicon Wafer Factory in Texas

Taiwanese tech giant GlobalWafers recently unveiled plans to build a silicon wafer factory in the state of Texas. Silicon wafer is a key component in the production of semiconductors, which are increasingly hard to come by. The construction of the facility is reportedly set to cost $2 billion, while the total investment is projected at the north of $5 billion. 

GlobalWafers, the third-largest producer of silicon wafers in the world, shared a statement on Monday detailing the plan. According to the company, the Texas plant, which will be located in Sherman, will enter the construction phase at some point in 2022. The production is expected to launch as soon as 2025, and the total output should be 1.2 million wafers on a monthly basis.

T U.S. has been hit hard with recent supply chain disruptions considering that the country massively relies on importing silicon wafers for its semiconductor production. But once the GlobalWafers facility starts operating, the U.S. will be able to weather future supply chain issues while also setting itself up for an expansion of domestic semiconductor production.

“This investment will represent the first new silicon wafer facility in the U.S. in over two decades and close a critical semiconductor supply chain gap,” said GlobalWafers announcing the news.

Activist Investor Elliott Management Won’t Pursue Changes on Salesforce’s Board

Improved results in the Q4 earnings report have allowed Salesforce to keep activist investor Elliott Management from pursuing changes on the company’s Board of...

First Citizens Bancshares Makes a Deal to Acquire Collapsed Silicon Valley Bank

The Federal Deposit Insurance Corporation (FDIC) has found a taker for the collapsed Silicon Valley Bank (SVB). On Monday, FDIC confirmed that North Carolina-based...

Banking Sector Stress Could Lead To Tighter Lending; ECB, Fed Officials Claim

Uncertainty across the banking sector is being closely monitored due to the potential for a credit crunch, a Federal Reserve official divulged on Monday....