The documents say the project would involve building out seven million square feet (650,000 square meters) of new space on a 640-acre (259-hectare) site that the company already owns.

The company has an existing chip plant in Austin that makes computing chips. Samsung's filing said it plans to make "advanced logic devices" for outside customers at the facility, meaning it would aim to make the smallest, fastest kinds of computing chips.

Samsung said in its filings that if Austin is selected, the company would start digging on the site in the second quarter of this year and that the plant will become operational in the third quarter of 2023.