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U.S. offers TSMC up to $6.6 billion for Arizona factories as Biden pushes for chip security
TSMC is set to receive up to $6.6 billion in CHIPS Act funding to support its investment into three manufacturing sites in Arizona.
U.S. Secretary of Commerce Gina Raimondo said at a press briefing that the agreement was "huge," adding that the partnership with TSMC will bring "the manufacturing of the world's most advanced chips to American soil." The CHIPS Act, passed in August 2022, is an almost $53 billion package aimed at building the U.S. domestic semiconductor industry to boost the country's economy and better compete with rivals such as China for national security purposes. On Monday, Raimondo lauded TSMC's move in Arizona, the largest such foreign investment in the state's history, as evidence of strong chip leadership from the Biden administration and the U.S. Congress.
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