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The logo of Taiwanese chip giant TSMC is seen at southern Taiwan science park in Tainan, Taiwan.


TSMC gets billions to build in Phoenix

Taiwan Semiconductor Manufacturing Company will receive as much as $6.6 billion from the US government to expand its chip-making complex in Phoenix, Arizona. As part of the deal, TSMC will also receive $5 billion in loans and invest $65 billion to build a third factory in the complex. It’ll receive the money if it complies with due diligence requirements set forth by the 2022 CHIPS and Science Act, a $200 billion investment in America’s domestic semiconductor infrastructure.

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Semiconductor chips on a circuit board.

Florence Lo/Illustration/Reuters

Crunch time for chipmakers

The Biden administration wants to supercharge US chip manufacturing, which is why the 2022 CHIPS Act allotted $280 billion for the domestic chipmaking sector. But Republicans in Congress just halted a key provision of the administration’s plan.

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