The federal funding will go toward TSMC’s $65 billion private investment to build three state-of-the-art chipmaking facilities in Phoenix. TSMC already has two planned facilities in Phoenix that are expected to begin production in 2025 and 2028. Some of the funding will support building the third facility.
“This is the largest foreign direct investment in a greenfield project in the history of the United States,” U.S. President Joe Biden said in a statement. “The first of TSMC’s three facilities is on track to fully open early next year, which means that for the first time in decades an America manufacturing plant will be producing the leading-edge chips used in our most advanced technologies – from our smartphones, to autonomous vehicles, to the data centers powering artificial intelligence.”