The US Department of Commerce has announced a preliminary agreement with Taiwan Semiconductor Manufacturing Company (TSMC) to support the construction of US semiconductor manufacturing facilities.
Under a preliminary memorandum of terms (PMT) involving $6.6 billion CHIPS Act direct funding, TSMC will build a third chip factory in Phoenix, increasing its total investment in Arizona to $65 billion.
The third fab will produce chips using 2nm or more advanced processes, with production beginning by the end of the decade.
President Joe Biden said the facilities will manufacture the most advanced chips in the world, putting the US on track to produce 20% of the world’s leading-edge semiconductors by 2030.
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