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

Benzinga LogoBenzinga12h ago

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

Quick Summary:

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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Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 15:23:27 (12 hours 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

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23462841

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About Benzinga

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 21 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

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