U.S. Pledges $6.6 Billion to TSMC Under CHIPS Act to Build 3rd Arizona Chip Facility, Boost Domestic Semiconductor Supply Chain

U.S. pledges $6.6 billion to Taiwan's TSMC to build a 3rd chip facility in Arizona, part of TSMC's $65 billion investment in the U.S.

Funding is from the CHIPS Act signed by Biden in 2022 to boost U.S. semiconductor manufacturing

Aims to make U.S. less reliant on Asia for advanced chips needed for AI and other industries

TSMC has 2 other facilities under construction in Arizona after starting work in 2021

Reportedly will also give billions to Samsung for a chip plant in Texas, diversifying supply chain