TSMC and GlobalFoundries Secure Billions in Final CHIPS Act Awards

Nov 8, 2024, 06:48 AM

TSMC and GlobalFoundries have finalized binding agreements with the US government to receive billions of dollars in grants and loans under the CHIPS and Science Act to expand semiconductor production in the United States. These final CHIPS Act awards follow earlier tentative agreements announced this year. Negotiations have concluded, though it remains unclear when the agreements will be officially signed and announced. The US Commerce Department has notified Congress of deals being finalized for at least three chip companies, as the Biden administration races to disburse CHIPS Act funds before the end of its term in January.