www.bloomberg.com Open in urlscan Pro
151.101.129.73  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to content
Bloomberg the Company & Its ProductsThe Company & its ProductsBloomberg Terminal
Demo RequestBloomberg Anywhere Remote LoginBloomberg Anywhere LoginBloomberg
Customer SupportCustomer Support


 * BLOOMBERG
   
   Connecting decision makers to a dynamic network of information, people and
   ideas, Bloomberg quickly and accurately delivers business and financial
   information, news and insight around the world
   
   
   FOR CUSTOMERS
   
    * Bloomberg Anywhere Remote Login
    * Software Updates
    * Manage Products and Account Information
   
   
   SUPPORT
   
   Americas+1 212 318 2000
   
   EMEA+44 20 7330 7500
   
   Asia Pacific+65 6212 1000


 * COMPANY
   
    * About
    * Careers
    * Diversity and Inclusion
    * Tech At Bloomberg
    * Philanthropy
    * Sustainability
    * Bloomberg London
    * Bloomberg Beta
    * Gender-Equality Index
   
   
   COMMUNICATIONS
   
    * Press Announcements
    * Press Contacts
   
   
   FOLLOW
   
    * Facebook
    * Instagram
    * LinkedIn
    * Twitter
    * YouTube


 * PRODUCTS
   
    * Bloomberg Terminal
    * Data
    * Trading
    * Risk
    * Indices
   
   
   INDUSTRY PRODUCTS
   
    * Bloomberg Law
    * Bloomberg Tax
    * Bloomberg Government
    * BloombergNEF


 * MEDIA
   
    * Bloomberg Markets
    * Bloomberg Technology
    * Bloomberg Pursuits
    * Bloomberg Politics
    * Bloomberg Opinion
    * Bloomberg Businessweek
    * Bloomberg Live Conferences
    * Bloomberg Radio
    * Bloomberg Television
    * News Bureaus
   
   
   MEDIA SERVICES
   
    * Bloomberg Media Distribution
    * Advertising


 * COMPANY
   
    * About
    * Careers
    * Diversity and Inclusion
    * Tech At Bloomberg
    * Philanthropy
    * Sustainability
    * Bloomberg London
    * Bloomberg Beta
    * Gender-Equality Index
   
   
   COMMUNICATIONS
   
    * Press Announcements
    * Press Contacts
   
   
   FOLLOW
   
    * Facebook
    * Instagram
    * LinkedIn
    * Twitter
    * YouTube


 * PRODUCTS
   
    * Bloomberg Terminal
    * Data
    * Trading
    * Risk
    * Indices
   
   
   INDUSTRY PRODUCTS
   
    * Bloomberg Law
    * Bloomberg Tax
    * Bloomberg Government
    * Bloomberg Environment
    * BloombergNEF


 * MEDIA
   
    * Bloomberg Markets
    * Bloomberg
      Technology
    * Bloomberg Pursuits
    * Bloomberg Politics
    * Bloomberg Opinion
    * Bloomberg
      Businessweek
    * Bloomberg Live Conferences
    * Bloomberg Radio
    * Bloomberg Television
    * News Bureaus
   
   
   MEDIA SERVICES
   
    * Bloomberg Media Distribution
    * Advertising


 * BLOOMBERG
   
   Connecting decision makers to a dynamic network of information, people and
   ideas, Bloomberg quickly and accurately delivers business and financial
   information, news and insight around the world
   
   
   FOR CUSTOMERS
   
    * Bloomberg Anywhere Remote Login
    * Software Updates
    * Manage Contracts and Orders
   
   
   SUPPORT
   
   Americas+1 212 318 2000
   
   EMEA+44 20 7330 7500
   
   Asia Pacific+65 6212 1000


Sign InSubscribeSearch

Live TVMarkets
Chevron Down
EconomicsIndustriesTechPoliticsBusinessweekOpinionMore
Chevron Down
US Edition
Chevron Down
Menu

Subscribe
Technology


TSMC TO WIN MORE THAN $5 BILLION IN GRANTS FOR US CHIP PLANT

 * Talks ongoing with TSMC and other advanced chipmakers
 * Samsung has floated additional investment to boost their award

FacebookTwitterLinkedInEmailLink
Gift
FacebookTwitterLinkedInEmailLink
GiftGift this article

IN THIS ARTICLE

TSMC
784.00TWD
Arrow Up
+3.16%
SAMSUNG ELECTRON
73,300.00KRW
Arrow Up
+1.52%

Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
Bloomberg Terminal LEARN MORE
FacebookTwitterLinkedInEmailLink
Gift
By Mackenzie Hawkins
March 8, 2024 at 7:14 AM HST
Updated on
March 8, 2024 at 8:12 AM HST
BookmarkSave

Listen

3:30

Taiwan Semiconductor Manufacturing Co. is set to win more than $5 billion in
federal grants to support a chipmaking project in Arizona, according to people
familiar with the matter, in what would mark a major milestone in President Joe
Biden’s effort to revitalize American semiconductor manufacturing.

The award is not yet finalized, the people said, asking not to be named to
discuss confidential conversations. It is also not yet clear whether TSMC will
tap the loans and guarantees also on offer from the 2022 Chips and Science Act.

TSMC and other leading-edge chipmakers are engaged in negotiations with the
Commerce Department over a pool of about $28 billion in grants targeted for
advanced factories. TSMC, Intel Corp., Micron Technology Inc. and Samsung
Electronics Co. are all slated to receive multi-billion dollar awards from that
pool, the people said, but the topline numbers for each continue to fluctuate.

TSMC said in a statement that it “has been making steady progress in productive
ongoing discussions with the US government on incentive funding.” The Commerce
Department and White House declined to comment.



In a bid to boost its own award, South Korea’s Samsung has floated additional US
investment on top of the $17 billion they plan spend on a new Texas factory,
according to other people familiar with those talks, who also asked not to be
identified because the discussions are private. Samsung didn’t respond to a
request for comment.

The Chips Act set aside a total of $39 billion in direct grants — plus financing
options valued at $75 billion — to persuade chipmakers to build on American soil
after decades of production in Asia.

Officials are aiming to make announcements for the major advanced chipmakers by
the end of this month, and have so far unveiled three awards to firms that
produce older-generation semiconductors.

Read More: Ex-Bankers Help Divvy Up $100 Billion to Boost US Chipmaking

TSMC, the main chipmaker for Apple Inc. and Nvidia Corp., is investing $40
billion to build two fabrication facilities in Arizona — a hotspot for the chip
industry and a key political battleground in the 2024 presidential election.

The site in Phoenix has seen several setbacks, beginning with a July
announcement that TSMC would delay production at the first factory until 2025
due to a shortage of skilled workers who could install their most advanced
equipment. That set off a months-long spat with local labor unions, which ended
in December with a formal labor accord.

Read More: Biden’s $100 Billion Chips Bet Ensnared in Arizona Union Fight

Earlier this year, the company announced a production delay at its second
facility of up to two years, and said that the level of technology there will
depend on the amount of support they receive from the US government.

Intel, TSMC’s main American rival, is in talks for more than $10 billion in
federal incentives spanning grants and loans, according to people familiar with
the matter. At least $3.5 billion will come in the form of direct grants, people
familiar said earlier.

Micron, meanwhile, has a project in Idaho and has said it will build as many as
four facilities in New York. The firm’s award is likely to support the first two
of those New York factories, as Commerce Secretary Gina Raimondo prioritizes
projects that will begin production by the end of the decade. Micron’s other two
factories in the state won’t be operational until 2041, the firm said in a
recent federal filing.



Intel and Micron declined separate requests for comment.

Read More: Advanced Chip Firms Want $70 Billion From US, Raimondo Says



— With assistance from Jane Lanhee Lee, Debby Wu, and Yoolim Lee

(Updates with Intel response in final paragraph.)

LinkCopy Link
Follow all new stories by Mackenzie Hawkins
Plus FollowingPlus Get AlertsPlus Get Alerts
Twitter
FacebookTwitterLinkedInEmailLink
Gift
BookmarkSave
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
Bloomberg Terminal LEARN MORE


MOST READ

 * Billions Pour Into Nigeria as Tinubu’s Reforms Start to Pay Off
 * TSMC to Win More Than $5 Billion in Grants for US Chip Plant
 * Summers Says Fed Is ‘Wrong’ on Neutral, Warns on Rate-Cut Bets
 * The World Has Too Much Wine, and Farmers Are Ripping Up Vines
 * Stocks Suffer ‘Heat Check’ as Rally Hits a Wall: Markets Wrap


MORE FROM BLOOMBERG

Arizona Republicans Want to Give Citizens License to Shoot Migrants

Sinema Won’t Seek Senate Reelection, Reshaping Arizona Race

Blackhawks score 4 on power play, beat Coyotes 5-2 to end 22-game road losing
streak



TSMC Surges to Record High on AI Optimism, Global Chip Rally


TOP READS

How Apple Sank About $1 Billion a Year Into a Car It Never Built

by Mark Gurman and Drake Bennett

What Has Biden Accomplished? Look at These 10 Metrics, Not the Polls

by Bloomberg Opinion Columnists

TikTok Is Treating Ozempic Side Effects as Untrained Doctors Dole Out
Prescriptions

by Madison Muller, Andre Tartar and Tanaz Meghjani

OpenAI's GPT Is a Recruiter’s Dream Tool. Tests Show There’s Racial Bias

by Leon Yin, Davey Alba and Leonardo Nicoletti




HomeBTV+Market DataOpinionAudioOriginalsMagazineEvents
News
MarketsEconomicsTechnologyPoliticsGreenCryptoAI
Work & Life
WealthPursuitsBusinessweekCityLabEqualityPursuitsWork Shift
Market Data
StocksCommoditiesRates & BondsCurrenciesFuturesSectorsEconomic Calendar
Explore
NewslettersExplainersThe Big TakeGraphicsSubmit a TipAbout Us
Terms of ServiceDo Not Sell or Share My Personal InformationTrademarksPrivacy
Policy
CareersMade in NYCAdvertise
Ad Choices
Help©2024 Bloomberg L.P. All Rights Reserved.







Get unlimited access today.
Explore Offers Arrow Right
Chevron Down
Subscribe now for unlimited access to Bloomberg.com and the Bloomberg app
Global news that uncovers a new tomorrow. Cancel anytime.
Get uninterrupted access to global news. Cancel anytime.
Claim This Offer