The $60 billion investment involves building or expanding seven chip-making facilities that Texas Instruments has in Sherman, Texas; Richardson, Texas; and Lehi, Utah. Notably, the North Texas city of Sherman will get two new facilities as part of Texas Instruments’ vision to manufacture hundreds of millions of chips daily.

The move comes a few years after the Biden Administration supported companies such as Texas Instruments with funding through the Chips and Science Act. Earlier this month, U.S. Secretary of Commerce Howard Lutnick said the Commerce Department is renegotiating some of its contracts.

And as President Donald Trump has been pushing for more U.S.-based manufacturing, Lutnick celebrated the Wednesday announcement from Texas Instruments.