Biden administration finalizes $6.6B in CHIPS grants for TSMC
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The Biden administration has finalized a $6.6 billion grant deal with Taiwan Semiconductor Manufacturing Co (TSMC) under the CHIPS and Science Act. This funding supports TSMC's $65 billion investment in building semiconductor fabs in Phoenix, Arizona, aiming to boost US manufacturing and reduce foreign dependency.
November 18, 2024 | 6:00 pm
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TSMC receives $6.6 billion in grants from the US under the CHIPS Act to support its $65 billion investment in semiconductor fabs in Arizona, enhancing US manufacturing capabilities.
The $6.6 billion grant from the US government is a significant financial support for TSMC's $65 billion investment in semiconductor fabs in Arizona. This move is likely to enhance TSMC's production capabilities and market position in the US, potentially leading to positive investor sentiment and a short-term increase in stock price.
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