(VOR News) – Taiwan Semiconductor Manufacturing Company (TSMC) has been granted a government subsidy of $6.6 billion to construct semiconductors in Phoenix, Arizona, according to a statement released by the United States Department of Commerce on Friday.
This subsidy will be utilized to construct semiconductors. This is the initial incentive that has been distributed in accordance with the CHIPS and Science Act of 2022, to the best of our knowledge.
Donald Trump, who would later become President of the United States of America, made a guest appearance on Joe Rogan’s podcast.
TSMC appeared before the election.
Rogan was granted the presidency of the United States of America in subsequent years. Rogan thereafter pursued the presidency of the United States of America and ultimately succeeded in his endeavor.
He expressed his apprehensions about the CHIPS Act during the conversation, stating that it is a “bad deal” from his perspective. Furthermore, he expressed his reservations regarding the Act.
Throughout its duration, the legislation allocates a total of $52.7 billion to support the growth of the semiconductor industry in the United States. In order to promote the sector’s expansion, these measures are implemented.
The funding will be utilized by TSMC, the industry leader in chip manufacturing, to enhance its promotional efforts for its initiative. This would result in the improvement of its project and the construction of a third production facility, which is frequently referred to as a “fab,” by 2030.
It is expected that expenses will fluctuate between $25 billion and $65 billion throughout the project’s completion. It is anticipated that production of its processors will commence at its second location in 2028 as a result of the implementation of 2 nanometer technology.
It is envisaged that the production process will commence at this juncture. The company has stated that it expects its initial facility in Arizona to be fully operational by the beginning of the following year after its completion. The corporation’s statements serve as the basis for this projection.
Vice President Joe Biden of the United States of America stated in a press release that “the final agreement with TSMC reached today will generate $65 billion in private investment to construct three state-of-the-art facilities in Arizona and generate tens of thousands of jobs by the end of the decade.”
TSMC makes semiconductors and is a multinational company.
This statement was made in reference to the fact that the new agreement will be finalized today during the discussion.
This comment was made in light of the fact that the agreement was reached today, the day in issue, and in conjunction with the fact that the agreement was achieved today.
This investment is the largest foreign direct investment ever made in a greenfield project involving international investors, and the United States of America has a lengthy history of greenfield projects. Particularly, this investment was executed in the United States of America.
In a statement, Gina Raimondo, the Secretary of TSMC Commerce for the United States of America, described the financing as “a turning point for American innovation and manufacturing that will strengthen our economic and national security.” This statement was made during the discussion with respect to the funding. Each and every member of the audience had access to this statement.
An additional $36 billion has been requested to support projects in twenty various states, and a total of $6.72 billion has been granted, according to the current state of affairs. The sum of these two figures TSMC represents the total quantity of money that has been disbursed.
The distribution of additional billions of dollars for awards that are given out for research and innovation is another concept that is currently being considered.
Since the CHIPS Act was enacted, technology companies have stated that they have made private investments in the fabrication of semiconductors in the TSMC United States totaling over $450 billion. A number of initiatives were initiated immediately following the passage of the CHIPS Act.
SOURCE: IW
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