TECH - Key Nvidia Apple Supplier TSMC To Receive $6.6B From US Government For Arizona Plant | Benzinga
The U.S. government is set to provide up to $6.6 billion in funding to Taiwan Semiconductor Manufacturing Co. (NYSE:TSM), a major semiconductor supplier for Apple and NVIDIA, for its Arizona plants.
What Happened: The funding, a part of the U.S. CHIPS and Science Act, will bolster TSMC’s over $65 billion investment in three advanced fabrication plants in Phoenix, Arizona, CNBC reported. The company is also eligible for approximately $5 billion in proposed loans under the CHIPS Act.
U.S. Secretary of Commerce, Gina Raimondo, highlighted the significance of the agreement, stating that the partnership with TSMC will bring “the manufacturing of the world’s most advanced chips to American soil.”
Raimondo further revealed that the funds will include $50 million to train and develop local talent in Arizona. TSMC Arizona has already created more than 25,000 jobs and attracted 14 semiconductor suppliers for the state.
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The CHIPS Act, ...