US finalizes up to $6.6 bn funding for chip giant TSMC
«Today's final agreement with TSMC — the world's leading manufacturer of advanced semiconductors — will spur $65 billion dollars of private investment to build three state-of-the-art facilities in Arizona,» said President Joe Biden in a statement.
The Biden administration's announcement comes shortly before President-elect Donald Trump takes office. Trump has recently criticized the CHIPS Act, a major law passed during Biden's tenure aimed at strengthening the US semiconductor industry.
While the US government has unveiled over $36 billion in grants through this act, including the award to TSMC, much of the funds remain in the due diligence phase and have not been disbursed.
But once a deal is finalized, funds can start flowing to companies that have hit certain milestones.
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