⚡ U.S. Boosts Investment in TSMC
posted 8 Apr 2024
TSMC's U.S. operations are set to receive a $6.6 billion grant for constructing facilities in Arizona, along with an additional $5 billion in low-interest government loans. The company aims to launch the production of 2-nanometer technology chips by 2028.
These are the chips that underpin all artificial intelligence, and they are the chips that are necessary components for the technologies that we need to underpin our economy, but frankly, a 21st century military and national security apparatus,Commerce Secretary Gina Raimondo declared.
Previously, TSMC announced a $40 billion investment in its U.S. manufacturing base in Arizona, with plans to get the first factory up and running by early 2025. The firm has invested a total of over $65 billion in the U.S., marking it as the country's all-time largest foreign direct investment, according to the Commerce Department.
Notably, over 70% of TSMC's clientele are U.S. companies, including giants like Nvidia and Apple. The U.S. government has been actively encouraging chip manufacturers to localize production to mitigate risks associated with potential military conflicts and chip shortages.
More breaking news
