The US government has announced plans to provide $6.6 billion to Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest manufacturer of semiconductor chips, to support the construction of three new fabrication plants in Arizona. This initiative is part of President Joe Biden's strategy to secure the supply of advanced chips and reduce the country's dependence on foreign sources.
President Biden highlighted the importance of domestic chip production, stating that the US has seen a significant decline in its global chip manufacturing capacity over the years. By partnering with TSMC, the US aims to address economic and national security vulnerabilities associated with relying on imported chips.
