Technology
TSMC to receive $6.6 Billion in direct funding for Arizona chip plant
![TSMC to receive $6.6 Billion in direct funding for Arizona chip plant](https://seveneleven.ae/wp-content/uploads/2024/05/32679-tsmc-to-receive-6-6-billion-in-direct-funding-for-arizona-chip-plant-780x470.jpg)
The United States Department of Commerce announced a new round of funding for TSMC under the CHIPS and Science Act. TSMC is in line to receive $6.6 billion in direct funding and $5 billion in loans for its semiconductor production in Phoenix, Arizona. TSMC is also eligible to apply for an investment tax credit covering up to 25% of capital expenditures…