TSMC Secures $6.6 Billion U.S. Grant, Boosting Arizona Investment to $65 Billion

The U.S. Commerce Department awarded Taiwan Semiconductor Manufacturing Co. $6.6 billion in grants under the CHIPS Act. The department also provided up to $5 billion in loans.

TSMC will invest more than $65 billion in its Arizona operations. The company plans to construct three fabrication plants in Phoenix. The third facility will manufacture chips using next-generation 2-nanometer technology.

TSMC’s American depositary receipts rose following the announcement. The expansion will create thousands of high-tech jobs. This project aims to bolster the domestic semiconductor supply chain.