Texas Instruments Gets $1.6B CHIPS Act Money, But Spending Plans in Question

Key TakeawaysTexas Instruments said it has a preliminary agreement with the U.S. Department of Commerce to receive up to $1.6 billion in CHIPS Act money for three semiconductor factories being built in Texas and Utah.The company also believes it will be getting$6 billion to $8 billion in tax breaks, and$10 million for creating jobs.Citi analysts wrote that TI will announce a reduction in capital expenditures next week. Texas Instruments (TXN) struck a preliminary agreement with the U.S. Department of Comm ...