04/08/2024 – 9:42
Taiwan Semiconductor Manufacturing (TSMC) will receive up to $6.6 billion from the U.S. government for a manufacturing complex it is building in Phoenix, Arizona, and expand the scope and sophistication of the project, as part of Washington's efforts to recover the national semiconductor industry. At 9:25 am (Brasília time), TSMC's American Depositary Receipt (ADR) rose 2.2% in New York pre-market.
TSMC will invest more than US$65 billion in total and add a third chip factory to the complex that has been under construction since 2021, according to a statement from the American government. The company, the world's largest chip manufacturer, will also produce cutting-edge 2-nanometer chips in one of the complex's units.
“It’s a national security issue that we don’t manufacture any of the most sophisticated chips in the world in the US,” said the country’s Secretary of Commerce, Gina Raimondo, at a press conference.
TSMC, which supplies chips to companies including Apple and Nvidia, will receive the funding in stages as its projects reach predetermined milestones. The amount to be released will also depend on due diligence to be conducted by the Department of Commerce.
With projects like TSMC's, the US is on track to account for around 20% of the cutting-edge chips produced in the world by 2030, according to the Department. Source: Dow Jones Newswires.
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