The U.S. Commerce Department has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co’s U.S. unit for semiconductor production in Phoenix, Arizona. This contract is the first major award under the $52.7 billion program created in 2022.
TSMC’s agreement includes up to $5 billion in low-cost government loans, with at least $1 billion expected to be released by year end. President-elect Donald Trump has criticized the CHIPS Act, and analysts wonder what he will do with the legislation when coming to power in January.