In May 2022, the North Texas-based company broke ground on its newest semiconductor plant in Sherman, 60 miles north of Dallas.

Once completely built out, the plant will employ around 2,000 workers who will produce much-needed chips needed to power all sorts of technology.

"We think it's not only good for the company, but from a supply chain shortage point of view," said Rich Templeton, Chairman of Texas Instruments.

On Friday, TI got a massive infusion of cash from the federal government.

Once fully online, the Sherman facilities will be responsible for producing more than 100 million chips daily.