"TSMC Secures $5 Billion Federal Grant for Arizona Chip Plant"

Taiwan Semiconductor Manufacturing Co (TSMC) is reportedly set to receive over $5 billion in federal grants from the U.S. government to establish a chipmaking plant in Arizona, as part of the 2022 Chips and Science Act. This move aligns with the U.S. government's efforts to bolster domestic semiconductor production. TSMC, known for producing chips used in Apple's iPhones, plans to invest around $40 billion in the Arizona plant, marking one of the largest foreign investments in U.S. history. The company's advanced manufacturing processes are crucial for the production of industry-leading artificial intelligence chips, and it has cited strong demand for advanced packaging, which has been a bottleneck for scaling up the supply of complex AI chips.