TSM - Biden's $2T infrastructure plan asks for $50B semiconductor investment

President Biden's $2T American Jobs Plan unveiled today asks Congress to approve a $50B investment in domestic semiconductor manufacturing and research. Last September, a study from lobbying group Semiconductor Industry Association and Boston Consulting Group said that the United States needed to spend $50B on semi manufacturing to increase its global market share above the current 12%. SIA said federal incentives of that level could fund 19 new chip fabs and create 70,000 high-paying jobs over the next decade. Biden's request comes during a global semiconductor shortage that is hitting the automotive industry the hardest. Last month, Biden signed an executive order for a 100-day review of critical product supply chains in the country, which included semiconductors. Last week, Intel ([[INTC]] +0.8%) announced a $20B investment in two domestic chip fabs in Arizona in a push to become a global foundry player. Foundry giant TSMC ([[TSM]] +2.5%) is building its own chip fab

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Biden's $2T infrastructure plan asks for $50B semiconductor investment