US finalises up to US$6.6 billion funding for chip giant TSMC

TSMC&nbsp, is the next business after Polar Semiconductor to finalise its contract.

” Currently, the United States does not make on our coasts any leading-edge cards, and this is the first day ever that we’ll be able to say we will be making these leading-edge cards in the United States”, Commerce Secretary Gina Raimondo told reporters on Thursday.

These are the cards that power AI and quantum computing, I want to tell anyone of. These are the cards that are in advanced military products”, Raimondo added.

Making these cards in the United States, she noted, helps solve a national security duty.

The second of&nbsp, TSMC’s three infrastructure is set to completely empty by early-2025, Biden noted.

At full power, the three services in Arizona are expected to “manufacture tens of millions of leading-edge logic cards that will power items like 5G/6G smartphones, autonomous vehicles, and high-performance technology and AI applications”, the Commerce Department said.

It added that “early generation produces at the first&nbsp, TSMC&nbsp, plant in Arizona are on par with comparable companies in Taiwan”.

Around 6, 000 clear manufacturing jobs are anticipated to be created by the purchase.

Under the condition of secrecy, a senior US official stated to reporters that TSMC should receive at least US$ 1 billion this time.

The United States is even providing TSMC Arizona with up to US$ 5 billion in proposed funding in addition to the US$ 6.6 billion in immediate funding.

The United States produced almost 40 % of the world’s chips, but this percentage is now closer to 10 %, and none of them are the most cutting-edge chips.

On Friday, TSMC’s stock dropped 1.3 percent in New York.