TSMC will be awarded up to $6.6B by Biden Administration, NY Times says

The Biden administration will award up to $6.6B in grants to Taiwan Semiconductor Manufacturing Company in an effort to bring the most advanced semiconductor technology into the United States, Madeleine Ngo and Don Clark of The New York Times reports. The funds will support the company’s first major hub in the U.S., in Phoenix. TSMC has already committed to building two plants at the site and will use some of the grant money to build an additional factory.