TSMC to Receive $6.6 Billion for U.S. Chip Manufacturing The Biden administration plans to grant up to $6.6 billion to TSMC, the leading microchip maker, to establish a major hub in Phoenix. This move aims to enhance U.S. semiconductor technology and reduce reliance on overseas production. The funds, part of the CHIPS Act, will support the construction of TSMC's first U.S. hub and increase its total investments in the country to over $65 billion. This initiative aligns with President Biden's goal of strengthening American manufacturing and national security. TSMC's expansion is expected to create thousands of jobs and bolster the global semiconductor supply chain.