Biden Administration Finalizes $6.6 Billion CHIPS Act Grant to TSMC for Arizona Facilities

Nov 15, 2024, 10:22 AM

The Biden administration has finalized a $6.6 billion CHIPS Act grant to Taiwan Semiconductor Manufacturing Company (TSMC). The funding, announced by the U.S. Commerce Department, supports the construction of TSMC's semiconductor manufacturing facilities, known as Fab 21, in Arizona. The funds will be disbursed in stages, with TSMC expected to receive at least $1 billion by the end of 2024. This agreement is anticipated to spur $65 billion in private investment to build three facilities in Arizona and create tens of thousands of jobs by the end of the decade. The finalization of this grant marks a significant milestone in efforts to bolster domestic semiconductor production and secure U.S. leadership in advanced semiconductor technology.