Apple chipmaker TSMC is set to receive a bumper $11.6 billion in grants and loans as part of plans to launch three factories in the United States. The deals, which comprise $6.6 billion in grants and around $5 billion in loans, are designed to help TSMC get the factories moving as part of the Biden administration's attempts to boost production of technology components in the country.
TSMC is a vital supply partner for Apple, among other companies, and is responsible for producing the chips that power all the best iPhones, Macs, iPads, an beyond. The upcoming OLED iPad Pro and refreshed iPad Air models will both use TSMC-built M-series chips, for example, while the iPhone 16 and iPhone 16 Pro will also rely heavily on the company's work.
