By the end of the year, the company will already have $1 billion of the funding in hand, according to the New York Times. The funds will supplement $65 billion in funds that TSMC

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.

TSMC secured a $6.6 billion US subsidy to expand its Phoenix chip production facilities, including advanced 2-nanometre technology.

The United States will award Taiwanese chip giant TSMC up to $6.6 billion in direct funding to help build several plants on US soil, officials said Friday, finalizing the deal before Donald Trump's administration enters the White House.

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

The White House on Friday announced it had finalized an agreement with a major semiconductor manufacturer to invest billions of dollars in facilities in Arizona as President Biden looks to cement parts of his legislative legacy before leaving office in January.

The U.S. Department of Commerce finalized its CHIPS and Science Act agreement with Taiwan Semiconductor Manufacturing Co. on Friday, essentially guaranteeing the company will receive $6.6 billion to construct its $65 billion north Phoenix facility.