WASHINGTON: The United States will award Taiwanese chip giant TSMC up to US$6.6 billion in direct funding to help build several plants on US soil, officials said Friday (Nov 15), finaliz

The Taiwanese semiconductor company will use the funding to expand its operations in Arizona, where it's building three facilities.

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 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.