- Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) and Samsung Electronics Co Ltd (OTC:SSNLF) urged to participate in the $52 billion chip building federal program, Bloomberg reports.
- The world's top two contract chipmakers looked to spend billions of dollars building new cutting-edge plants in the U.S.
- TSMC argued that arbitrary favoritism based on the location of a company's headquarters for the grant is not an effective or efficient use of the grant.
- Also Read: TSMC Founder Considers Washington's $52B Chip Rebuilding Plan Unfeasible; Questions Intel's Intentions
- TSMC also emphasized the importance of developing advanced technologies and foreign talent to help drive innovation. Samsung echoed TSMC's comments, Bloomberg notes.
- TSMC looked to a $12 billion fab in Arizona, while Samsung focused on Texas's $17 billion plant.
- Intel Corp (NASDAQ:INTC) looked to a new $20 billion chip hub in Ohio and two new plants in Arizona.
- Price Action: TSM shares traded lower by 0.92% at $105.74 on the last check Monday.
