Texas Instruments plans $60 billion U.S. investment amid Trump's onshoring push

Texas Instruments said it would spend more than $60 billion to expand its U.S. manufacturing footprint, the latest chipmaker to ramp up domestic production amid pressure from the Trump administration to reshore the semiconductor supply chain.
The funds will be used to build or expand seven chip-making facilities in Texas as well as Utah, and will create 60,000 jobs, TI said on Wednesday, calling it the "largest investment in foundational semiconductor manufacturing in U.S. history."
The company did not give a timeline for the investment.
Unlike AI chip firms Nvidia and AMD, TI makes analog or foundational chips used in everyday devices such as smartphones, cars and medical devices, giving it a large client base that includes Apple, SpaceX and Ford Motor.
The spending pledge follows similar announcements from others in the semiconductor industry, including Micron, which said last week that it would expand its U.S. investment by $30 billion, taking its planned spending to $200 billion.
Analysts have said they see the spending commitments as overtures to U.S. President Donald Trump, who has repeatedly threatened to kill the $52.7 billion 2022 CHIPS and Science Act and warned of potential new tariffs on semiconductor imports.
Texas Instruments, which won as much as $1.61 billion in CHIPS Act funding last year, already has a large U.S. presence.
It had been building two facilities in Texas and one in Utah as part of efforts to boost in-house manufacturing and stave off rising competition from Chinese analog chipmakers.
Like other companies unveiling such spending commitments, TI's announcement includes funds already allocated to facilities that are either under construction or ramping up. It will build two additional plants in Sherman, Texas, based on future demand.
"TI is building dependable, low-cost 300 millimeter capacity at scale to deliver the analog and embedded processing chips that are vital for nearly every type of electronic system," said CEO Haviv Ilan.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Hill

35 minutes ago

• The Hill

Trump: ‘Maybe I'll have to change my mind' about firing Powell

President Trump on Friday floated the possibility of firing Federal Reserve Chairman Jerome Powell as part of his latest round of intense criticism of the leader of the central bank over its decision not to lower interest rates. Trump, in a lengthy post on Truth Social, railed against Powell, labeling him a 'numbskull,' 'a dumb guy,' 'and an obvious Trump Hater.' Trump appointed Powell to the post in 2017. 'I fully understand that my strong criticism of him makes it more difficult for him to do what he should be doing, lowering Rates, but I've tried it all different ways,' Trump posted. 'I've been nice, I've been neutral, and I've been nasty, and nice and neutral didn't work!' The post included a graphic showing how the United States' central bank rate compared to other nations. 'I don't know why the Board doesn't override this Total and Complete Moron!' Trump added 'Maybe, just maybe, I'll have to change my mind about firing him? But regardless, his Term ends shortly!' Powell's term ends in 2026. He said last November he would not step down if Trump asked, and that it is 'not permitted under the law' for the president to fire or demote him or any of the other Fed governors with leadership positions. Trump in April said he had no intention of firing Powell, though he has in recent days ratcheted up his criticism amid frustration over the Fed's handling of interest rates. Fed officials kicked off the year expecting to continue cutting interest rates as inflation drifted back toward its ideal annual level of 2 percent. But the bank has held off through the first half of 2025 amid the uncertainty driven by Trump's tariff plans. Powell reiterated his call for patience Wednesday, after the Fed kept rates steady once again.

Politico

44 minutes ago

• Politico

‘We can't wait forever': GOP frustrated but unwilling to act on Trump's TikTok extension

President Donald Trump's latest move to keep TikTok alive is yet again frustrating congressional Republicans, many of whom object to China's continued involvement in the popular app but just want to be done with the whole drama. 'Not my favorite thing,' Sen. Josh Hawley (R-Mo.), along-time proponent of the ban, deadpanned, when asked about the president's plan to issue another extension. He spoke a day before the White House confirmed Trump signed a 90-day suspension of enforcement of the law requiring TikTok to divest from ByteDance, its China-based parent company, throwing another lifeline to the short-form video app. By Friday, some House lawmakers registered a note of resigned irritation. The extension — Trump's third since the law went into effect on Jan. 19 — is a unilateral decision not envisioned in the bipartisan law passed by Congress and upheld last year by the Supreme Court. Rep. Darin LaHood (R-Ill.), a member of the House Intelligence and China committees, told POLITICO. 'The national security concerns and vulnerabilities are still there, and they have not gone away. I would argue they've almost become more enhanced in many ways.' But Trump's extension of the TikTok law largely boxed out Republicans in both chambers who have shown little inclination — beyond stern words — to prevent him from making these postponements almost routine. Many GOP lawmakers saw themselves as granting the president space to cut a promised deal while the White House deals with urgent priorities, like trade negotiations and the Israel-Iran conflict. 'In light of everything going on, I think he did the right thing,' Sen. John Kennedy (R-La.), a China hawk who voted for the ban, told POLITICO of Trump. 'I have concerns about all kinds of things — that [the extension] is on the list — but it's not at the top of the list.' Though Trump has promised his TikTok negotiations areclosely tied to trade talks with China, Treasury Secretary Scott Bessent testified last week to a Senate panel that TikTok's sale was not currently a part of the negotiations with China, raising a further potential obstacle to Trump inking a deal in the near future. Sen. Lindsey Graham (R-S.C.), a close ally of the president and longtime national-security hawk said earlier in the week: 'The sooner we get that issue solved, the better,' without offering any ideas for further enforcement. 'I just want finality,' Senate Judiciary Chair Chuck Grassley (R-Iowa) told POLITICO. 'I want some certainty and just know that the Congress isn't being played when we make a decision [that the app] be sold.' Another member of the House China Committee, Rep. Zach Nunn (R-Iowa), told POLITICO, 'No more extensions. It's time to follow through.' Rep. Dan Newhouse (R-Wash.), also a member of the China panel, noted in a post on X Thursday the law only allows one extension of the compliance deadline, adding, 'I was proud to support the ban of TikTok and believe the law should be implemented as written.' With their comments, the lawmakers echoed House China Chair John Moolenaar (R-Mich.), who in early June called for the U.S. to 'let [TikTok] go dark' to bring China to the table to negotiate. He reiterated that stance on Friday. 'Delays only embolden the Chinese Communist Party,' Moolenaar said in a statement to POLITICO. 'I urge the administration to enforce the law as written and protect the American people from this growing national security threat.' Still, observers say Republicans are not exercising their leverage to demand the White House enforce the law they helped write, for example by withholding funding or congressional oversight hearings. 'I keep reading that Republicans are 'frustrated' and 'impatient' about their TikTok law being ignored, but they should stop complaining to reporters and take it up with Trump,' said Adam Kovacevich, founder and CEO of the pro-tech Chamber of Progress. Among the Republicans being undercut by the president is his own secretary of state. Marco Rubio — who as senator was one of the loudest critics of TikTok's ties to China, and a huge backer of the app's ban — has been conspicuously silent as Trump has repeatedly granted more time to strike a deal for its sale. 'You have to decide what's more important, our national security and the threat that it poses to our national security,' Rubio told POLITICO in March 2023, as Congress was considering a ban. 'You have to weigh that against what you might think the electoral consequences of it are. For me, it's an easy balancing act. I mean, there is no balance. I'm always going to be for our national security.' A spokesperson for Rubio at the State Department did not respond to a request for comment. Democrats — even those who support keeping TikTok online — say Trump's approach is the wrong one. 'These endless extensions are not only illegal, but they also put TikTok's fate in the hands of risk-averse corporate shareholders,' Sen. Ed Markey (D-Mass.) told POLITICO in a statement. 'This is deeply unfair to TikTok's creators and users. I'm prepared to work towards a solution, but Trump isn't coming to the table.'

Yahoo

an hour ago

• Yahoo

The bond market has been on a roller coaster ride this year. Here are 3 predictions for what comes next.

Bond yields have swung wildly in the first six months of Trump's presidency. The roller coaster ride for yields has stemmed from concerns about tariffs and US debt. Strategists at SocGen said are eyeing developments ahead for the bond market. It's been a volatile year so far for the bond market, with deficit fears, tariff tantrums, and skittishness about foreign buyers, but there are still fresh developments ahead that could shake things up, Societe Generale said. Strategists pointed to the handful of fits US bond investors have thrown so far this year, largely stemming from concern about President Donald Trump's tariff agenda and fears over the rising budget deficit in the US. The worry is both that tariffs will raise inflation, which will keep interest rates high, and that the national debt is scaling to an unsustainable level. Both possibilities are making investors less willing to hold onto US Treasury bonds unless the government offers more attractive yields. "The first six months of the Trump administration have rattled bond markets, putting pressure on the long end of yield curves," strategists wrote in a note on Friday. "A shift away from long bonds and dollar assets could continue, but this will not be a straightforward process." Here are three things the bank sees coming next for the bond market. The bond market could see a wave of new Treasurys being issued as the government borrows more money and the Fed continues quantitative tightening, a practice that reduces the amount of US government bonds held by the central bank. Congress is expected to lift the federal debt ceiling sometime in August. Once the ceiling is raised, the Treasury Department will need to build back its account by issuing more nominal coupons, with it likely picking up the pace of issuance by February of next year, SocGen strategists estimated. If the debt ceiling isn't lifted, the Treasury General Account could be "totally exhausted" by October, per SocGen's projection. Investors, meanwhile, have appeared more cautious on Treasurys recently. Demand at the most recent 20-year government bond auction was weaker than expected, and foreign participation was the lowest in five years, according to Bank of America. "Rising debt and QT will continue to flood the markets with bonds," the SocGen strategists wrote. "There is appetite, but a shift away from long bonds and dollar assets is becoming apparent." SocGen fleshed out several scenarios for what could happen to the 2-year and 10-year US Treasury yields over the next four quarters. Here are the bank's forecasts for the 2-year and 10-year yields by the end of the fourth quarter of 2025: Scenario Description 2-year yield 10-year yield Base Case The Fed eases its policy modestly and cuts rates twice by the end of the year. 3.75% 4.25% Bull Case The Fed cut rates aggressively as it sees fundamentals in the economy deteriorating. 3.25% 4.00% Bear Case The Fed keeps rates restrictive in response to sticky inflation. 3.90% 4.60% Across all scenarios, yields will remain well above where they were five years ago. US stablecoins, which are backed by reserves of liquid assets such as short-term Treasurys, could help lift demand for government bonds. Assets under management by stablecoin issuers are around $234 billion, reflecting a 74% increase from 2023, SocGen said. That number is expected to increase to $2 trillion by the end of 2028, according to an estimate from the Treasury Borrowing Advisory Committee. Stablecoins were also the third-largest buyer of US T-bills in 2024, behind JPMorgan's government money market fund and China. "A plausible, though highly uncertain, scenario is for stablecoins to absorb approximately 20% of expected net bill issuance over the next three years," SocGen strategists said. In a previous note, Bank of America estimated that each $1 vested in stablecoins by traditional banks could represent $0.90 in additional demand for US Treasurys. The bank said demand from stablecoin issuers could be a future source of volatility for the Treasury market. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data