Samsung says it will build $17B chip factory in Texas

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Samsung Electronics on Thursday, Oct. 28, 2021 reported its highest quarterly profit in three years as it continues to see robust global demand for its computer memory chips. Lee Jin-man/AP

Lee Jin-man/AP

Samsung said it plans to build a $17 billion semiconductor factory outside of Austin, Texas, amid a global shortage of chips used in phones, cars and other electronic devices.

“This is the largest foreign direct investment in the state of Texas, ever,” Texas Gov. Greg Abbott said in announcing the project Tuesday.

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