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Apple Chipmaker TSMC to Receive $6.6 Billion Grant to Step Up Production in the U.S.
The United States Commerce Department today announced a significant financial commitment to Apple chip supplier TSMC to make more chips in the U.S....
The White House shared a statement explaining that the U.S. Commerce Department will allocate a $6.6 billion subsidy to TSMC for the advancement of semiconductor production in Phoenix, Arizona. Apple agreed to pay up to $14.4 million (CAD) to settle a class action lawsuit in Canada that alleged the company secretly throttled the performance of some iPhone models ("batterygate"), and eligible customers can now submit a claim for payment. Apple's CEO Tim Cook this week sold 196,410 shares of the company's stock, which had a total value of approximately $33.2 million based on the average sale price of the transactions, according to a U.S. Securities and Exchange Commission filing.
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