Reported 18 days ago
Taiwan Semiconductor Manufacturing Company (TSMC) and GlobalFoundries Inc. have completed negotiations on binding agreements to secure billions in grants and loans under the U.S. Chips Act to boost semiconductor manufacturing. The Biden administration aims to finalize these agreements before the end of the term in January, which support factory constructions in Phoenix and New York. TSMC's plan includes $6.6 billion in grants and up to $5 billion in loans for three factories, while GlobalFoundries has secured $1.5 billion in grants and $1.6 billion in loans for expansion projects. The future allocation of the remaining $3 billion in funding remains uncertain, particularly with the upcoming change in administration.
Source: YAHOO