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Taiwan Semiconductor Manufacturing Co. will receive as much as $11.6 billion in federal grants and loans to boost production in Arizona of the critical computer chips needed to power smartphones, AI and military projects, the US Commerce Department said Monday.
The US Commerce Department has revealed initial terms with TSMC, awarding the chipmaker up to $6.6 billion in direct funding and another $5 billion in loans.
The Biden administration announced that it had reached a preliminary deal with the TSMC over billions in funding toward chip fabrication plants in Phoenix.
The US Department of Commerce has announced a preliminary agreement with Taiwan Semiconductor Manufacturing Company (TSMC) to support the construction of US semiconductor manufacturing facilities.
TSMC has finally detailed its "US plans" as the Taiwan giant receives additional funding from the US under the CHIPS Act.