Texas Instruments shares are trading higher after the company announced a preliminary agreement to receive up to $1.6 billion in proposed funding from the CHIPS and Science Act for semiconductor manufacturing in Texas and Utah. The company expects to receive $6 billion to $8 billion from the U.S. Department of Treasury's investment tax credit.
Portfolio Pulse from Benzinga Newsdesk
Texas Instruments shares are trading higher after announcing a preliminary agreement to receive up to $1.6 billion in proposed funding from the CHIPS and Science Act for semiconductor manufacturing in Texas and Utah. The company also expects to receive $6 billion to $8 billion from the U.S. Department of Treasury's investment tax credit.
August 16, 2024 | 11:42 am
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Texas Instruments shares are trading higher due to a preliminary agreement to receive up to $1.6 billion in funding from the CHIPS and Science Act and an expected $6 billion to $8 billion from the U.S. Department of Treasury's investment tax credit.
The funding and tax credits will significantly boost Texas Instruments' financial position and capacity for semiconductor manufacturing, positively impacting its stock price in the short term.
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