Taiwan Semi and GlobalFoundries Finalize Major US Funding Deals, Eye Growth in Chip Manufacturing

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Taiwan Semiconductor, which received an initial $6.6 billion in April for its Phoenix, Arizona semiconductor project, and GlobalFoundries, awarded $1.5 billion for its facilities in Malta, New York, and Burlington, Vermont, are among 21 recipients collectively receiving $37 billion in preliminary CHIPS Act funds, Reuters reports.

Prominent chipmakers, including Taiwan Semiconductor Manufacturing Co (NYSE:TSM) and GlobalFoundries Inc (NASDAQ:GFS), have finalized agreements for substantial U.S.government grants and loans to support their manufacturing efforts, Bloomberg cites familiar sources.

Commerce Department to Congress, marks significant progress in implementing the 2022 bipartisan initiative to boost domestic semiconductor production.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesChinaMaltaTaiwan

Topics: Benzinga TSM Tech News GFS Government US0378331005 US8740391003 Regulations BZ Data Project Stock Battles AAPL Briefs Media

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 15:23:27 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 527 words

Reading Time: 3 minutes read

Sentences: 25 lines

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Copyright Owner: © Benzinga

News ID: 23462841

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