Commerce Department has finally agreed to release $6.6 billion to help fund the Phoenix plant being built by TSMC. Trump has criticized the plan.

The semiconductor maker is getting the money under the Chips Act. The cash will support the company’s planned investment of $65 billion to create a production cluster near Phoenix.

The White House on Friday announced it had finalized an agreement with a major semiconductor manufacturer to invest billions of dollars in facilities in Arizona as President Biden looks to cement

TSMC secured a $6.6 billion US subsidy to expand its Phoenix chip production facilities, including advanced 2-nanometre technology.

The Biden-Harris Administration and U.S. Department of Commerce announced Friday that Taiwan Semiconductor Manufacturing Company’s Arizona Corporation has been awarded up to $6.6 billion in direct funding under the CHIPS Act.

The Biden administration said on Friday that it had completed an agreement to award Taiwan Semiconductor Manufacturing Company up to $6.6 billion in grants, as federal officials race to put in place their plans to boost U.

As part of the deal, TSMC agreed to invest about $65 billion to expand operations in Phoenix, in order to build its most advanced chips. It also agreed to limit stock buybacks for

The U.S. Department of Commerce finalized its CHIPS and Science Act agreement with Taiwan Semiconductor Manufacturing Co. on Friday, essentially guaranteeing the company will receive $6.6 billion to construct its $65 billion north Phoenix facility.