Taiwan Semiconductor Manufacturing Co. Arizona is set to receive $1 billion of milestone-based awards by the end of 2024 from the CHIPS and Science Act funding, the U.S. Department of Commerce announced Friday.
TSMC AZ is set to get “up to $6.6 billion in direct funding” from the federal government to help build out its three north Phoenix fabs and bolster economic and national security.
Manufacturing semiconductors in the U.S. allows the country to be independent of powers overseas and produce chips that go in smart phones and automobiles, officials said.
