Key Nvidia, Apple Supplier TSMC To Receive $6.6B From US Government For Arizona Plant
Portfolio Pulse from Benzinga Neuro
The U.S. government will provide up to $6.6 billion in funding to TSMC for its Arizona plants as part of the CHIPS and Science Act. This funding aims to support TSMC's $65 billion investment in advanced fabrication plants in Phoenix, Arizona, and includes $50 million for local talent training. The initiative is part of a broader strategy to strengthen the U.S. semiconductor supply chain and reduce reliance on overseas manufacturing. TSMC, a key supplier for Apple and NVIDIA, has already created over 25,000 jobs and attracted 14 semiconductor suppliers to Arizona.
April 08, 2024 | 11:24 am
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TSMC to receive up to $6.6 billion from the U.S. government for its Arizona semiconductor plants, part of a larger $65 billion investment in the region.
The substantial financial support from the U.S. government underlines the strategic importance of TSMC's expansion in Arizona. This funding is likely to accelerate the company's infrastructure development and operational capabilities in the U.S., enhancing its competitive edge and potentially increasing its market share in the semiconductor industry. The direct financial injection and the strategic nature of this investment suggest a positive outlook for TSMC's stock in the short term.
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