TSMC to boost computer chip production in Arizona with $11.6 billion from CHIPS Act

News Snapshot:

The US government will dole out $11.6 billion in CHIPS Act funds to Taiwan Semiconductor in order to get the world’s largest chipmaker to boost its production of the critical technology in Arizona, the US Commerce Department said Monday. The Taiwanese company — which produces 90% of the world’s super-advanced semiconductors and supplies tech giant like Apple and Nvidia — agreed to build a third factory in Phoenix as part of a $65 billion investment at the production hub, officials said. TSMC’s first two factories are under construction and expected to begin chip production in 2025 and 2028. It is...