TSMC to win more than $5 billion in grants for a US chip plant, Bloomberg reports
aiwan Semiconductor Manufacturing Co, opens new tab, the world's largest contract chipmaker, is set to win more than $5 billion in federal grants from the U.S. government for setting up a chipmaking plant in Arizona, Bloomberg News reported on Friday.
The award is yet to be finalized and it is unclear whether TSMC will tap the loans and guarantees also on offer from the 2022 Chips and Science Act, the report said, citing people familiar with the matter.
TSMC and the U.S. Commerce Department did not immediately respond to Reuters requests for comment.
TSMC, which makes chips used in Apple's $Apple(AAPL.US$ , opens new tab iPhones, has said it would invest about $40 billion in its Arizona plant, among the largest foreign investments in U.S. history.
The U.S. has been vying to increase domestic semiconductor production through the U.S. CHIPS Act, which was passed in 2022 and provides $52.7 billion in funding, including $39 billion in subsidies for semiconductor production and $11 billion for R&D. $Taiwan Semiconductor(TSM.US$
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10baggerbamm : that's great but that's multi years into the future before it's even up and running