"Biden Secures $11.6 Billion Deal with TSMC for Arizona Chip Plants"
The U.S. Commerce Department has awarded TSMC's U.S. unit a $6.6 billion subsidy for advanced semiconductor production in Arizona, with an additional $5 billion in low-cost government loans. TSMC plans to expand its investment to $65 billion and add a third fab by 2030, producing 2 nanometer technology. This investment is the largest foreign direct investment in a completely new project in U.S. history and is expected to create thousands of jobs. TSMC's Arizona factories aim to achieve a 90% water recycling rate and support key customers like Apple, Nvidia, AMD, and Qualcomm.