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The Biden Administration is likely to award billions of dollars in subsidies to advanced chip makers TSMC, Intel & others in the coming weeks

1 jpeg cover advanced chips

In a recent BNN Bloomberg report they noted that Taiwan Semiconductor Manufacturing Co. (TSMC) announced another delay to its $40 billion site in Arizona, dealing a further blow to the Biden administration’s plans to boost manufacturing of critical components on US soil.

With that in mind, a new Wall Street Journal report states that the Biden administration is expected to award billions of dollars in subsidies to top semiconductor companies, including Intel and Taiwan Semiconductor Manufacturing Co. (TSMC), in the coming weeks to help build new factories in the United States, The Wall Street Journal reported on Saturday.

The forthcoming announcements are aimed at kick-starting manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations.

The executives expect some announcements to come before U.S. President Joe Biden’s State of the Union address on March 7, the WSJ report added.

Among the likely recipients of the subsidies, Intel has projects underway in Arizona, Ohio, New Mexico and Oregon that will cost more than $43.5 billion, the Journal said.

TSMC has two plants under construction near Phoenix for a total investment of $40 billion. South Korea’s Samsung Electronics, also a contender, has a $17.3 billion project in Texas.

Micron Technology, Texas Instruments  and GlobalFoundries count among other top contenders, WSJ said, citing industry executives. For more, read the full Wall Street Journal report report titled "Eager for Economic Wins, Biden to Announce Billions for Advanced Chips."

The news couldn't come fast enough for Intel whose stock had it's worst day since 2020 based on a weak outlook for 2024.

10.0F3 - Patently Extra News

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