The Biden administration on Nov. 15 announced $11.6 billion in CHIPS and Science Act awards for TSMC Arizona, a subsidiary of the world’s largest contract chipmaker, to boost chip manufacturing in the United States.
This includes $6.6 billion in direct funding and up to $5 billion in loans. TSMC has pledged a $65 billion investment into three facilities in Arizona.
Two years ago, President Joe Biden visited Arizona to tour a new semiconductor manufacturing hub, including TSMC’s venture into the United States and Intel’s initiative to bring chipmaking back in-house. During his visit, he touted his flagship CHIPS and Science Act, which he signed into law in August 2022….