TSMC bags up $11.6bn Chips Act funding

TSMC and the US Department of Commerce have finalised their previously announced preliminary agreement that TSMC should receive $6.6 billion of Chips Act money plus €5 billion in loans and a 25% tax credit on infrastructure capex to support the $65 billion investment it is making in three fabs in Arizona.

“This is the largest foreign direct investment in a President Joe Biden - Chips Actgreenfield project in the history of the United States,” says US President Joe Biden (pictured right)  “the first of TSMC’s three facilities is on track to fully open early next year, which means that for the first time in decades an America manufacturing plant will be producing the leading-edge chips used in our most advanced technologies.”

“Entering this phase of the U.S. CHIPS and Science Act TSMC bags up $11.6bn Chips Act fundingmarks a pivotal step in strengthening the semiconductor ecosystem in the United States,” says TSMC CEO C.C. Wei (pictured left), “TSMC appreciates the continual collaboration with customers, partners, local communities and the U.S. government beginning in early 2020. The signing of this agreement helps us to accelerate the development of the most advanced semiconductor manufacturing technology available in the U.S.”

David Manners

David Manners

David Manners has more than forty-years experience writing about the electronics industry, its major trends and leading players. As well as writing business, components and research news, he is the author of the site's most popular blog, Mannerisms. This features series of posts such as Fables, Markets, Shenanigans, and Memory Lanes, across a wide range of topics.

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