TSMC snags $6.6 billion in CHIPS Act funding to open three factories in Arizona
President Biden’s to semiconductor manufacturers. The White House Taiwan Semiconductor Manufacturing Company (TSMC) is receiving $6.6 billion in grants to build three fabrication plants, otherwise called fabs, in the region of Phoenix, Arizona. This is in addition to around $5 billion in government loans.As part of this deal, TSMC agreed to expand its planned investment in Arizona by $25 billion, to $65 billion. The company it is building in the state, with a third promised by 2030. The White House says this represents the largest foreign direct investment in Arizona’s history, with expectations to bring 6,000 high-wage tech jobs and 20,000 construction jobs to the state.One nifty aspect of these factories is that they’ll allow TSMC to complete every aspect of the chip-making process o...