TSMC Expands US Operations with CHIPS Act Grant

Taiwan Semiconductor Manufacturing Company (TSMC) has secured a $6.6 billion grant through the CHIPS and Science Act to expand its semiconductor production in Arizona, marking the first such award from the Act. This initiative is complemented by nearly $5 billion in loans to help construct three manufacturing facilities, with the first set to open early next year. The investment, totaling $65 billion, is expected to significantly boost the US's semiconductor manufacturing capabilities by the end of the decade, creating numerous jobs and enhancing national security. TSMC's commitment to US interests is underscored by its cessation of shipments to clients potentially violating US sanctions, such as Huawei. Meanwhile, AI-related investments continue to attract attention globally, with companies like CoreWeave securing substantial funding, highlighting the growing importance of AI infrastructure. The US government is urged to finalize CHIPS Act agreements with other firms like Intel and Samsung to maintain momentum in technological advancements.