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

REUTERS/Ann Wang

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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