The Biden administration has finalized Taiwan Semiconductor Manufacturing Company’s (TSM) Chips Act incentive funding to support its U.S. fabrication sites.

The Biden administration finalized its Chips Act incentive awards for Taiwan Semiconductor Manufacturing Co., marking a major milestone for a program meant to bring semiconductor production back to US soil.

The Biden administration is pushing to roll out funding before President-elect Donald Trump takes office in January.

In October, a Canadian research firm discovered that Huawei was using TSMC chips for its artificial intelligence accelerators even though that violates US government sanctions. TSMC denied having any working relationship with Huawei,

The U.S. Department of Commerce announced today that it has awarded $6.6 billion in government subsidy to Taiwan Semiconductor Manufacturing Co (TSMC) for its Phoenix, Arizona production endeavors.

TSMC will get a big chunk of its megabillion award from the White House to support its new Arizona factory by the end of this year.

Officials said the award is from the CHIPS and Science Act and is meant to support the expansion of TSMC’s microchip manufacturing facilities in Phoenix.

The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona. The binding contract - after a preliminary agreement announced in April - is the first major award to be completed under the $52.

As part of the deal, TSMC agreed to invest about $65 billion to expand operations in Phoenix, in order to build its most advanced chips. It also agreed to limit stock buybacks for