Texas Instruments signs preliminary agreement for up to $1.6 billion in CHIPS and Science Act funding

Texas Instruments has signed a non-binding Preliminary Memorandum of Terms with the U.S. Department of Commerce for up to $1.6 billion in proposed direct funding under the CHIPS and Science Act to support semiconductor manufacturing. Additionally, TI expects to receive an estimated $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit.