The company will expand its operations in Utah and its home state of Texas
Photo: Bloomberg (Getty)
Texas Instruments $TXN is investing $60 billion in seven semiconductor fabrication plants, or “fabs,” which the company says is the largest such investment in U.S. history. The seven fabs will be spread across three sites in Texas and Utah, creating 60,000 new jobs.
The move comes as part of the “onshoring” movement, which started under Joe Biden’s administration and continues under President Donald Trump, in response to Asian dominance in the semiconductor industry. Semiconductors are essential components in vehicles, computers, smartphones and other key components of modern life.
Texas Instruments CEO Haviv Ilan said in a press release, “Leading U.S. companies such as Apple $AAPL, Ford $F, Medtronic $MDT, Nvidia $NVDA and SpaceX rely on TI’s world-class technology and manufacturing expertise, and we are honored to work alongside them and the U.S. government to unleash what’s next in American innovation.”
Secretary of Commerce Howard Lutnick praised the investment, as did Apple CEO Tim Cook and Nvidia CEO Jensen Huang. Ford CEO Jim Farley said, “At Ford, 80% of the vehicles we sell in the U.S. are assembled in the U.S., and we are proud to stand with technology leaders like TI that continue to invest in manufacturing in the U.S.”
TI currently has two fabs in the Dallas area. The first, in Richardson, dates back to 2009. The company in 2022 broke ground on a new one in Sherman, which will begin production later this year. Three more fabs are planned for Sherman in the coming years. There is currently one fab in Lehi, Utah, just south of Salt Lake City, with a second under construction there.
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