Biden Secures $6.6B TSMC Chip Funding Ahead of Administration Change

The U.S. has agreed to provide Taiwan Semiconductor Manufacturing Co. with up to $6.6 billion in funding to build advanced chip facilities in Arizona, aiming to boost domestic semiconductor production and enhance national security by reducing reliance on foreign suppliers. This investment is expected to attract $65 billion in private capital and create approximately 6,000 jobs. The initiative, announced before President-elect Donald Trump takes office, underscores the importance of domestic chip manufacturing for technologies like AI and military hardware. Taiwan Semiconductor is also expanding its global footprint with significant investments in Japan.