US finalizes up to $6.6 bn funding for chip giant TSMC

The United States will award Taiwanese chip giant TSMC up to $6.6 billion in direct funding to help build several plants on US soil, officials said Friday, finalizing the deal before a new administration enters the White House.

“Today’s final agreement with TSMC –- the world’s leading manufacturer of advanced semiconductors –- will spur $65 billion dollars of private investment to build three state-of-the-art facilities in Arizona,” said President Joe Biden in a statement.

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