The U.S. Department of Commerce will award $6.6 billion in grants to support the construction of a U.S. semiconductor manufacturing hub by Taiwan Semiconductor Manufacturing Company (TSMC), the leading semiconductor chip manufacturer responsible for producing a majority of the world’s supply.
On April 8, President Joe Biden said the CHIPS and Science Act funds will support the Taiwan-based chip-making giant’s third chip factory in Phoenix, AZ.
In total, TSMC has said its total investment in Arizona will be $65 billion. The company previously committed to building two other manufacturing facilities in Phoenix. All three will now form a “cluster” production hub.
“These facilities will manufacture the most advanced chips in the world, putting us [the U.S.] on track to produce 20% of the world’s leading-edge semiconductors by 2030,” Biden said in a statement.
The…
