Biden Finalizes $65 Billion TSMC Investment for Advanced Chips
President Joe Biden announced the final agreement with TSMC, the world leader in advanced semiconductor production. This agreement, the largest foreign direct investment in a new project in U.S. history, involves building three state-of-the-art facilities in Arizona with a $65 billion private investment, expected to create tens of thousands of jobs by the end of the decade.
This final deal, recognized as one of the most significant milestones in the implementation of the bipartisan CHIPS & Science Act, demonstrates the Biden administration’s commitment to reshoring key technologies and strengthening national and economic security.
The first of TSMC’s facilities is set to be fully operational early next year, marking the first time in decades that an American manufacturing plant will produce the advanced chips used in our cutting-edge technologies.
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