There aren’t many areas where I agree with the Biden administration but the CHIPS Act is one that I genuinely hope will work. The ACT passed both the House and Senate with bipartisan support and was signed into law in 2022. The idea was to award grants to chipmakers willing to build new facilities here in the US. That meant giving awards to US companies like Intel and Micron but it also means offering billions to lure Taiwan’s TSMC, the largest chipmaker in the world by far, to build some new fabrications facilities in Arizona. Today, the Biden administration announced another $6.6 billion would be granted to TSMC.
The funds, which come from the bipartisan CHIPS and Science Act, will help support the construction of TSMC’s first major U.S. hub, in Phoenix. The company has already committed to building two plants at the site and will use some of the grant money to build a third…
