TSMC Set to Win More Than $5 Billion in Federal Grants for Arizona Chip-Making Project, Bloomberg Says

By Denny Jacob

-- Taiwan Semiconductor Manufacturing is set to win more than $5 billion in federal grants to support a chip-making project in Arizona, Bloomberg reports, citing people familiar with the matter.

-- The award isn't yet finalized, according to the report. It also noted that it isn't yet clear whether the contract chip maker will tap the loans and guarantees also on offer from the 2022 Chips and Science Act.

-- TSMC, in a statement, said it "has been making steady progress in productive ongoing discussions with the U.S. government on incentive funding," according to Bloomberg.

-- The Wall Street Journal in January reported that the Biden administration is expected to award billions of dollars in subsidies to Intel, TSMC and other top semiconductor companies in the weeks ahead to help build new factories. The grants are part of the $53 billion Chips Act, intended to reshore production on advanced microchips and fend off China, which is developing its own chip industry.

Full story at https://www.bloomberg.com/news/articles/2024-03-08/tsmc-to-win-more-than-5-billion-in-grants-for-us-chip-plant

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 08, 2024 13:04 ET (18:04 GMT)

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