_tsmc-stock-surges-3-2-as-biden-greenlights-366-6-billion-in-grants-3611-6-billion-to-boost-us-chip-manufacturing.jpg "TSMC Stock Surges 3.2% as Biden Greenlights $6.6 Billion in Grants $11.6 Billion to Boost US Chip Manufacturing from nusrat jami jump Video Screenshot Preview")
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✓ Published: 10-Apr-2024
👁 View: 795K times
✓ Published: 10-Apr-2024
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TSMC stock jumped up to 3.2% on news that Biden's administration approved $11.6 billion in grants and loans for the company to boost US chip manufacturing. The deal positions TSMC to receive up to $6.6 billion in grants and $5 billion in direct funding from the CHIPS and Science Act passed in 2022. TSMC unveiled plans for a third Arizona production facility by 2028 to meet rising US semiconductor demand, with a total investment exceeding $65 billion. The three planned TSMC facilities in Arizona are expected to create 6,000 high-tech jobs and 20,000 construction jobs.
TSMC stock jumped up to 3.2% on news that Biden's administration approved $11.6 billion in grants and loans for the company to boost US chip manufacturing. The deal positions TSMC to receive up to $6.6 billion in grants and $5 billion in direct funding from the CHIPS and Science Act passed in 2022. TSMC unveiled plans for a third Arizona production facility by 2028 to meet rising US semiconductor demand, with a total investment exceeding $65 billion. The three planned TSMC facilities in Arizona are expected to create 6,000 high-tech jobs and 20,000 construction jobs.
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