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What just happened? TSMC has become the latest beneficiary of the CHIPS Act after the US Commerce Department said it had reached a preliminary agreement with the Taiwanese giant to award it up to $6.6 billion in grants and $5 billion in loans. The money will be used by the company to build a third manufacturing plant in Arizona. TSMC is already building two factories in Phoenix, Arizona. It said the CHIPS money will go toward creating a third fab at the site, operational by the end of the decade, that will use its next-gen 2nm process technology. TSMC plans…
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