Taiwan Semiconductor Manufacturing's U.S. unit will get federal money from the CHIPS Act, and will share some profits with the government.

The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona.

Three semiconductor manufacturing Phoenix fabs will support the economy after a final agreement between TSMC and the Biden administration.

The White House is racing to finish grant agreements for chip manufacturers, but some of its biggest successes might be credited to the Trump administration.

The Biden administration has finalized Taiwan Semiconductor Manufacturing Company’s (TSM) Chips Act incentive funding to support its U.S. fabrication sites.

As part of the deal, TSMC agreed to invest about $65 billion to expand operations in Phoenix, in order to build its most advanced chips. It also agreed to limit stock buybacks for