The Biden administration pledged on Monday to provide up to $6.6 billion so that a Taiwanese semiconductor giant can expand the facilities it is already building in Arizona and better ensure that the most-advanced microchips are produced domestically for the first time. Commerce Secretary Gina Raimondo said the funding for Taiwan Semiconductor Manufacturing Co. means the company can expand on its existing plans for two facilities in Phoenix and add a third, newly announced production hub.
's commitment to manufacture leading-edge chips in Arizona marks a new chapter for America's semiconductor industry,' Lael Brainard, director of the White House National Economic Council, told reporters. The announcement came as U.S. Treasury Secretary Janet Yellen is traveling in China. Senior administration officials were asked on the call with reporters if the Biden administration gave China a head’s up on the coming investment, given the delicate geopolitics surrounding Taiwan.
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