Apple chipmaker TSMC will receive a $6.6 billion investment to expand production in the US

Today, the US Department of Commerce announced a major financial commitment to Apple chip supplier TSMC to produce more chips in the US (via Bloomberg).

The White House shared a statement announcing that the US Department of Commerce will grant TSMC $6.6 billion to build a semiconductor manufacturing facility in Phoenix, Arizona. TSMC will also receive up to $5 billion in cash and be eligible for a tax credit of up to 25% of capital expenditures.

The move is part of a broader CHIPS and Science Act initiative aimed at revitalizing America's semiconductor manufacturing capabilities.TSMC has already committed to invest $25 billion, bringing its total investment to $65 billion. This is the largest foreign investment in a new project in US history.

Thechipmaker also announced plans to build a manufacturing facility in Arizona by 2030. TSMC's first plant in Arizona will begin producing 4nm chips next year. The second factory, which was designed to produce 3nm chips, will also produce 2nm chips by 2028.

The third factory will produce 2nm chips with the ability to produce more advanced semiconductors in the future.of Apple's most advanced chips are currently manufactured in Taiwan using TSMC's 3nm process, so the ability to manufacture these and other high-powered chips in the United States in the future could lead to significant changes for the industry.

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