The United States plans to give $6.6 billion in grants and as much as $5 billion in loans to TSMC (Taiwan Semiconductor Manufacturing Co.) to help the world's largest chipmaker build factories in Arizona.
TSMC will get grants, loans and will build 3rd factory in Arizona, adding to 2 expected to begin production there in 2025 and 2028.
U.S. Secretary of Commerce Gina Raimondo says latest US package aimed at AI, national security, according to Bloomberg.
In total, the package reportedly will support TSMC's investment of more than $65 billion in three factories, the chip manufacturer of companies such as Nvidia and Apple.