Samsung Electronics has decided to build a new chip factory in Austin, Texas. It will also be a semiconductor factory using extreme ultraviolet lithography (EUV) for foundry chips.

The construction will start in the third quarter of this year and will be operational in 2024.

Samsung Electronics plans to invest 20 trillion won, approximately 18 billion U.S. dollars, a slight increase from the previously mentioned 17 billion U.S. dollars in investment in the new plant.