Biden seeks $6.6 billion in CHIPS and Science Act funding for new chip factory

By Georgina DiNardo / April 8, 2024 at 11:22 AM
The Biden administration announced today a proposed $6.6 billion in direct funding under the CHIPS and Science Act to be directed to a preliminary agreement between the Commerce Department and the Taiwan Semiconductor Manufacturing Company (TSMC) to build a third chip factory in Arizona. The proposed funding would aim to strengthen domestic microchip and semiconductor production while helping speed up artificial intelligence development in areas like consumer electronics, high-performance computing and automotive. “The proposed funding from the CHIPS and Science...

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