Commerce Department has finally agreed to release $6.6 billion to help fund the Phoenix plant being built by TSMC. Trump has criticized the plan.

As part of the deal, TSMC agreed to invest about $65 billion to expand operations in Phoenix, in order to build its most advanced chips. It also agreed to limit stock buybacks for

The Biden administration finalized its Chips Act incentive awards for Taiwan Semiconductor Manufacturing Co., marking a major milestone for a program meant to bring semiconductor production back to US soil.

The Biden administration has finalized Taiwan Semiconductor Manufacturing Company’s (TSM) Chips Act incentive funding to support its U.S. fabrication sites.

The semiconductor maker is getting the money under the Chips Act. The cash will support the company’s planned investment of $65 billion to create a production cluster near Phoenix.

TSMC has been rewarded $6.6 billion in grants and $5 billion in low-amount government loans by the US Department of Commerce.

TSMC secured a $6.6 billion US subsidy to expand its Phoenix chip production facilities, including advanced 2-nanometre technology.

The Biden-Harris Administration and U.S. Department of Commerce announced Friday that Taiwan Semiconductor Manufacturing Company’s Arizona Corporation has been awarded up to $6.6 billion in funding.

Three semiconductor manufacturing Phoenix fabs will support the economy after a final agreement between TSMC and the Biden administration.

The Biden administration said on Friday that it had completed an agreement to award Taiwan Semiconductor Manufacturing Company up to $6.6 billion in grants, as federal officials race to put in place their plans to boost U.

The White House on Friday announced it had finalized an agreement with a major semiconductor manufacturer to invest billions of dollars in facilities in Arizona as President Biden looks to cement parts of his legislative legacy before leaving office in January.