The United States Commerce Department today announced a significant financial commitment to Apple chip supplier TSMC to make more chips in the U.S. (via Bloomberg).
The White House shared a statement explaining that the U.S. Commerce Department will allocate a $6.6 billion subsidy to TSMC for the advancement of semiconductor production in Phoenix, Arizona. TSMC will also receive $5 billion in loans and be eligible to claim an investment tax credit of up to 25% of capital expenditures. The move is part of a larger initiative under the CHIPS and Science Act, which aims to rejuvenate the United States’ semiconductor manufacturing capabilities.
TSMC has already committed to an escalated investment of $25 billion, elevating its total investment to $65 billion. This is the largest foreign direct investment in a completely new project in U.S. history.
Read more at MacRumors.com