Taiwan Semiconductor Manufacturing Corp. (NYSE:TSM) is expected to win up to $5 billion in grants from the U.S. government for building a chip fabrication facility in Arizona.
Bloomberg reported on Friday, citing sources familiar with the matter, that the world’s largest contract chipmaker would soon be announcing the deal, although it wasn’t clear whether the award would come from the $52 billion CHIPS Act fund for boosting U.S. semiconductor manufacturing.
In May 2020, TSMC announced plans to invest $12 billion in a semiconductor manufacturing facility in Phoenix, Arizona, aiming to bolster its production capacity in the United States. Then in December the same year, plans for a second fab — again, in Phoenix — were announced, taking the total investment to $40 billion.
The company said at the time: “As one of TSMC's advanced fabs, TSMC Arizona will play a vital role in the U.S. government's goal to onshore ...