With President Joe Biden about to leave office, the US Commerce Department is putting the finishing touches on a deal that includes allocating billions of dollars in subsidies to chip foundry TSMC.
On November 15, the US Department of Commerce announced that it would provide TSMC with up to $6.6 billion in direct funding for three semiconductor manufacturing plants in Arizona. In addition, the department will provide an additional $5 billion in proposed loans.
By the end of this year, TSMC will have $1 billion in funding on hand.
Previously, TSMC committed to spending $65 billion to develop chip factories in Arizona, creating 6,000 direct manufacturing jobs and more than 20,000 construction jobs.
The Commerce Department called the investment a “significant step” toward strengthening the economy and protecting national security. The money will be disbursed based on project milestones.
Commerce Secretary Gina Raimondo said cutting-edge chips made in Arizona are the foundation of America's economic and technological leadership in the 21st century.
TSMC plans to produce the most advanced chips used in laptops, smartphones and AI data centers in Arizona by 2028.
The funding was announced under the CHIPS Act, which President Biden signed into law in 2022.
The race to finalize terms between the department and TSMC comes as Biden prepares to leave office in January 2025.
President-elect Donald Trump criticized the CHIPS Act in an interview in October, saying that all that was needed was a tax on chips, similar to the tax on car companies.
Currently, only about 10% of the world's semiconductors are produced in the US, much lower than the 37% figure 30 years ago.
(According to Fortune)
Source: https://vietnamnet.vn/my-cap-6-6-ty-usd-cho-tsmc-truoc-khi-ong-donald-trump-tiep-quan-nha-trang-2342990.html
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