1) TSMC to receive $5B in US federal grants for Arizona chip plant, investing $40B, as part of US CHIPS Act aiming to increase domestic semiconductor production.

Taiwan Semiconductor Manufacturing Co. (TSMC) is set to receive more than $5 billion in federal grants from the US government to establish a chip manufacturing plant in Arizona. TSMC is the world's largest contract chipmaker and has said it will invest about $40 billion in its Arizona plant, one of the largest foreign investments in US history. The US is seeking to increase domestic semiconductor production through the US CHIPS Act, which provides $52.7 billion in funding, including $39 billion in subsidies. The award is yet to be finalized, and it is unclear whether TSMC will also tap loans and guarantees offered by the 2022 Chips and Science Act.

March 08, 2024
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