"Biden's $6.6 Billion Boost for TSMC to Ramp Up US Chip Production"

The Biden administration has pledged up to $6.6 billion to Taiwan's TSMC to support the construction of a third semiconductor factory in Arizona, as part of a $65 billion investment in the US. This move aims to boost domestic production of advanced chips and reduce dependency on Asian firms, particularly in the event of a geopolitical crisis. The funding is tied to the CHIPS and Science Act, signed by President Biden in 2022, and is part of efforts to revitalize the US semiconductor industry. Additionally, the administration is set to provide over $6 billion in funding to South Korea's Samsung to expand its chip output in Texas.