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Samsung spending $4 billion to renovate Austin chip factory

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Premiership footballers will be weeping in envy at the way Samsung's been spending its cash this month. After splashing $822 million on a Korean R&D center, it's now chucking $4 billion to renovate its semiconductor factory in Austin, Texas. The cash will be used to increase production on system-on-chip products used in a wide variety of smartphones and tablets, presumably to cope with future demand. It's not clear if this investment is in addition to the $1 billion it was raising in January to add a new SOC and OLED line to the same facility, but it's certainly a good time to be living in Texas, right now.