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Texas Instruments announces award agreement for CHIPS and Science Act funding

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The U.S. Department of Commerce has awarded TI up to $1.6 billion in CHIPS Act funding to support three new 300mm semiconductor wafer fabs under construction in Texas and Utah.TI also expects to receive an estimated $6 billion to $8 billion from the U.S. Department of the Treasury’s Investment Tax Credit for qualified U.S. manufacturing investments.The company will also receive up to $10 million to support workforce development.

LEHI, Utah and SHERMAN, Texas, Dec. 20, 2024 /PRNewswire/ — Texas Instruments (TI) (Nasdaq: TXN) and the U.S. Department of Commerce today announced an award agreement of up to $1.6 billion in direct funding through the U.S. CHIPS and Science Act, following the preliminary memorandum of terms announced in August 2024. The funding will help support three of TI’s new 300mm wafer fabs currently under construction in Texas and Utah. Support from the CHIPS Act, including the 25% investment tax credit, will help TI provide a geopolitically dependable supply of essential analog and embedded processing semiconductors.

“As the largest analog and embedded processing semiconductor manufacturer in the U.S., TI is uniquely positioned to provide dependable, low-cost 300mm semiconductor manufacturing capacity at scale,” said Haviv Ilan, president and CEO of Texas Instruments. “The increasing number of electronic devices in our lives depend on our foundational chips, and we appreciate the support from the U.S. government to make the semiconductor ecosystem stronger and more resilient.”

The CHIPS Act direct funding will support TI’s investments through 2029 for three large-scale 300mm wafer fabs in Sherman, Texas (SM1 and SM2), and Lehi, Utah (LFAB2). Together, these fabs will manufacture tens of millions of analog and embedded processing chips every day that are critical to a variety of end markets, including automotive, industrial, personal electronics, communications equipment and enterprise systems.

Specifically, the CHIPS Act direct funding will be distributed upon completion of project milestones, supporting: 

Cleanroom construction and tool installations at SM1 in Sherman, Texas;Shell construction of SM2, a second fab in Sherman, Texas; andCleanroom construction and tool installations at LFAB2, a second fab in Lehi, Utah.

These connected, multi-fab sites in Texas and Utah will benefit from shared infrastructure, talent and technology sharing, and a strong network of existing suppliers and community partners. 

Combined, TI’s three new fabs in Texas and Utah will create 2,000 company jobs, along with thousands of indirect jobs for construction, suppliers and supporting industries. TI is also investing in building its future workforce. As part of the CHIPS Act award agreement, TI will also receive up to $10 million for workplace development efforts in Texas and Utah.

Consistent with TI’s longstanding commitment to responsible, sustainable manufacturing and environmental stewardship, the company’s 300mm wafer fabs will be entirely powered by renewable electricity. Additionally, TI is committed to reducing overall water consumption across its operations, endeavoring to achieve a 70% water reuse capability in Sherman, Texas, and Lehi, Utah. All of TI’s new 300mm fabs are also designed to meet LEED Gold standards for structural efficiency and sustainability.

Learn more:

TI CHIPS Act press kit (includes images, video b-roll, fact sheet)TI Sherman, Texas, press kitTI Lehi, Utah, press kit

Notice regarding forward-looking statements

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe TI’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

See Item 1A of TI’s most recent Form 10-K for a detailed discussion of risk factors that could cause results to differ materially from the forward-looking statements. The forward-looking statements included in this release are made only as of the date of this release, and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances. If we do update any forward-looking statement, you should not infer that we will make additional updates with respect to that statement or any other forward-looking statement.

About Texas Instruments

Texas Instruments Incorporated (Nasdaq: TXN) is a global semiconductor company that designs, manufactures, and sells analog and embedded processing chips for markets such as industrial, automotive, personal electronics, communications equipment and enterprise systems. At our core, we have a passion to create a better world by making electronics more affordable through semiconductors. This passion is alive today as each generation of innovation builds upon the last to make our technology more reliable, more affordable and lower power, making it possible for semiconductors to go into electronics everywhere. Learn more at TI.com.

 

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SOURCE Texas Instruments

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Samsung Press Conference at CES 2025 ‘AI for All: Everyday, Everywhere’

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December 21, 2024

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KUALA LUMPUR, Malaysia, Dec. 21, 2024 /PRNewswire/ — Samsung Electronics will hold a press conference on January 6, a day before exhibitions open for CES 2025 in Las Vegas, NV.

The event is scheduled to begin at 6:00 a.m. MYT (Malaysia Time) (5:00 p.m. EST) at the Mandalay Bay Ballroom, South Convention Center, Mandalay Bay Hotel. Jong-Hee (JH) Han, Vice Chairman, CEO and Head of Samsung’s DX (Device eXperience) Division, will open the press conference, introducing the theme of ‘AI for All: Everyday, Everywhere.’

The press conference will be streamed live on Samsung Newsroom. Until then, stay tuned to Samsung Newsroom for more updates on the company’s plans for CES 2025.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom at news.samsung.com.

“SAMSUNG MALAYSIA ELECTRONICS (SME) SDN BHD [Company No. 200301026766(629186-D)]”.

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SOURCE Samsung Electronics

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ZeroThreat, a Rising AppSec Innovator, to Showcase AI-Powered Security at Gujarat’s Largest Tech Expo

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2 hours ago

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December 21, 2024

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Enabling complete web and API security with AI-powered real-time vulnerability scanning, actionable insights, automated pentesting, remediation, and continuous security testing for modern applications.

AHMEDABAD, India, Dec. 20, 2024 /PRNewswire-PRWeb/ — ZeroThreat, an AI-powered Web Application and API security startup, is all set to make its mark at Gujarat’s largest Tech Expo, happening in Ahmedabad on December 20-21, 2024 Booth #G3. As a standout name in AppSec innovation, ZeroThreat is redefining how software teams build secure applications and APIs.

With its cutting-edge AI-driven platform, ZeroThreat offers unparalleled ease of use, requiring zero configurations and delivering point-and-click simplicity. Teams can detect vulnerabilities 5x faster with real-time scanning, automate pentesting, and produce compliance-ready products—ensuring proactive protection against modern threats.

In today’s fast-paced world, where software and B2B SaaS companies face relentless pressure to deliver rapid updates, ZeroThreat emerges as the ultimate solution to tackle critical security challenges. Tech Expo visitors will have the exclusive opportunity to witness its capabilities live, from real-time vulnerability detection to seamless API discovery at booth #G3.

Tech Expo Gujarat 2024, scheduled for December 20-21, 2024, at Ahmedabad, Gujarat, will bring together over 5000+ attendees, 20+ speakers, 125+ exhibitors, and 50+ sponsors. This one of the largest technology events serves as a premier platform to explore cutting-edge technological advancements and foster collaboration among industry leaders, decision-makers, and innovators.

ZeroThreat – Web Application and API Scanning Platform Highlights

Sensitive Data Exposure & Data Leak DetectionDetect Session Hijacking, Broken Access, XSS & SQL InjectionsAI-Guided Detection & RemediationRapid Port and Configuration ScanningOptimized for Modern Apps & SPA FrameworksFully Automated Authorization Checks

Designed for modern AppSec, ZeroThreat shortens vulnerability detection and resolution from days to hours, empowering businesses to launch secure products on time. As a standout DAST platform, it tackles complex configurations and eliminates the need for expert pentester, solving key challenges for software companies.

Key Benefits for Software Teams and Companies

ZeroThreat comes with several benefits for software companies and engineers that enhance security, productivity, and cost efficiency.

Point-and-Click Scan: Flawlessly scan your web apps without complex configurations and technical expertise required.Faster Vulnerability Detection: Detect 40,000+ vulnerabilities 5x faster than traditional methods, helping software teams to address issues quickly.Near-Zero False Positives: Minimize false positives to reduce alert fatigue with 98.9% accuracy.AI-Powered Remediation Reports: Get personalized code examples and actionable insights to fix vulnerabilities faster.CI/CD Integration: Integrate security seamlessly into your development process with CI/CD integration, ensuring minimal workflow disruption.Automated Compliance Check: Ensure adherence to security standards and regulations like GDPR, SOC2, PCI-DSS, OWASP, CWE/SANS and HIPAA, streamlining the compliance process.Location-based Data Storage and Scan: Choose a preferred global scanning location and store data in compliance with regional regulations.

A Commitment to APPSec Innovation

Empowering software teams with robust AppSec solutions is at the core of our mission,” said Dharmesh Acharya, Co-Founder of ZeroThreat.” At Gujarat’s largest tech expo, we’re excited to showcase how ZeroThreat helps businesses build secure applications easily, integrating security into workflows without compromising speed or efficiency.

About ZeroThreat

ZeroThreat is an AI-driven vulnerability scanning and pentesting platform providing comprehensive security solutions for web applications and APIs. It scans all types of web apps, including modern Single-Page Applications, JavaScript-heavy ones and APIs (Private, Public) to minimize external attacks and false positives by 90% manual pentesting. ZeroThreat empowers software teams and companies with robust security capabilities, ensuring the integrity and confidentiality of their applications and data.

Media Contact

Dharmesh Acharya, ZeroThreat, 91 9081579038, marketing@zerothreat.ai, https://zerothreat.ai/

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SOURCE ZeroThreat

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EXRO PROVIDES UPDATE ON SEMI-ANNUAL INTEREST PAYMENTS ON OUTSTANDING CONVERTIBLE DEBENTURES

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6 hours ago

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December 21, 2024

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CALGARY, AB, Dec. 20, 2024 /PRNewswire/ – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that provides new-generation power control electronics that expand the capabilities of electric motors and batteries, is pleased to provide an update on the settlement of interest payments through the issuance of common shares.

Pursuant to the terms of the C$15,000,000 secured convertible debentures of the Company issued on December 30, 2022 (the “Debentures”), bearing interest at 12% per annum, payable semi-annually in arrears beginning on June 30, 2023 (the “Due Date”). As of December 20, 2024 the Company has 14,950 debenture units outstanding, and an aggregate amount of interest owing on the Debentures payable of C$897,000 (the “Interest”). The Company has elected to issue 6,407,141 common shares in the capital of the Company (“Common Shares”) at a deemed price of $0.14 to the debenture holders as payment for the interest. Pursuant to the Debentures, the deemed issue price per Common Share is calculated based on the volume weighted average trading price of the Common Shares for the five trading days immediately prior to December 20, 2024.

The issuance of the Common Shares as payment for interest owing on the Debentures is subject to the terms and conditions of the Debentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the Toronto Stock Exchange.

About Exro Technologies Inc.

Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.

For more information, please visit www.exro.com.

To view our Investor Presentation, visit us at www.exro.com/investors.

Follow us on social media @Exrotech.

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SOURCE Exro Technologies Inc.

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