The Biden administration finalized its Chips Act incentive awards for Taiwan Semiconductor Manufacturing Co., marking a major milestone for a program meant to bring semiconductor production back to US soil.

Commerce Department has finally agreed to release $6.6 billion to help fund the Phoenix plant being built by TSMC. Trump has criticized the plan.

The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona.

The Biden-Harris Administration and U.S. Department of Commerce announced Friday that Taiwan Semiconductor Manufacturing Company’s Arizona Corporation has been awarded up to $6.6 billion in funding.

WASHINGTON: The United States will award Taiwanese chip giant TSMC up to $6.6 billion in direct funding to help build several plants on US soil, officials said Friday, finalizing the deal before a new administration enters the White House.

The U.S. Department of Commerce finalized its CHIPS and Science Act agreement with Taiwan Semiconductor Manufacturing Co. on Friday, essentially guaranteeing the company will receive $6.6 billion to construct its $65 billion north Phoenix facility.

The Taiwanese semiconductor company will use the funding to expand its operations in Arizona, where it's building three facilities.