TSMC grabs US$11 billion for Arizona fabs from US Chips Act
November 15, 2024
The US government has awarded the world’s leading foundry TSMC up to US$6.6 billion in direct funding under the Chips Act as well as up to US$5 billion in low-cost loans.
The money will contribute to TSMC’s US$65 billion investment in three wafer fabs in Phoenix, Arizona. The announcement is the official follow up to the previously signed preliminary memorandum of terms, announced on April 8, 2024, after due diligence.
The money will handed over to subsidiary company TSMC Arizona Corp. in multiple tranches on the completion of a series of project milestones.
The first of the fabs is due to begin commercial production in 2025.
The Department of Commerce said that early production yields at that wafer fab are on a par with similar fabs in Taiwan.
Sign up for HardwareBee
Partner with us