Texas Instruments to build new chip plants in Texas

Texas Instruments said Wednesday it will build new chip-fabrication plants in North Texas as part of an investment in production that could reach $30 billion.

TI (TXN) said construction at the Sherman, Texas site will start with two facilities next year, and could expand to include four chip fabrication plants. As many as 3,000 jobs are expected to be created by the new TI expansion.

Rich Templeman, TI’s chief executive, said in a statement that the new plants are “part of our long-term capacity planning to continue to strengthen our manufacturing and technology competitive advantage and support our customers’ demand in the coming decades.”

The first products from the facilities are expected to roll off the assembly line in 2025.

TI (TXN), which supplies products for Apple, recently was caught up in Apple saying that its quarterly results were heavily impacted by semiconductor supply chain shortages. Seeking Alpha