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US Finalizes $6.6 Billion Chips Award for TSMC Ahead of Trump Return

WASHINGTON, Nov 15 (Reuters) - 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 produ

US Finalizes $6.6 Billion Chips Award for TSMC Ahead of Trump Return

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TSMC also agreed to use its most advanced chip manufacturing technology called &#34;A16&#34; in Arizona.</p><p>&#34;When we started this there were a lot of naysayers who said maybe TSMC will do 5 or 6 nanometer in the United States,&#34; Commerce Secretary Gina Raimondo said in an interview. &#34;Actually they are doing their most sophisticated chips in the United States.&#34;</p><p>The TSMC award also includes up to $5 billion in low-cost government loans. Under the agreement, TSMC will receive cash as it meets project milestones. Commerce expects to release at least $1 billion to TSMC by year end, a senior official told reporters.</p><p>TSMC agreed to forgo stock buybacks for five years - subject to some exceptions - and share any excess profits with the U.S. government under an &#34;upside sharing agreement.&#34;</p><p>TSMC CEO C.C. Wei said in a statement the deal &#34;helps us to accelerate the development of the most advanced semiconductor manufacturing technology available in the U.S.”</p><p>Congress in 2022 approved the Chips and Science Act to boost domestic semiconductor output, which Raimondo called essential to getting TSMC and other chips investment. No leading edge chips are currently produced in the United States.</p><p>&#34;It didn&#39;t happen on its own... We had to convince TSMC that they would want to expand,&#34; Raimondo said, adding officials also had to convince American companies to buy U.S. made chips. &#34;The market does not price in national security.&#34;</p><p>Commerce has allocated $36 billion for chips projects including $6.4 billion for Samsung 005930.KS in Texas, $8.5 billion for Intel INTC.O and $6.1 billion for Micron Technology MU.O. Commerce is working to finalize those agreements before Biden leaves office on Jan. 20.</p><p>Reuters reported on Saturday Commerce ordered TSMC to halt shipments of advanced chips to Chinese customers.</p><p>Raimondo did not confirm the department issued a directive to TSMC but said the United States needs to play offense and defense with China.</p><p>&#34;Investing in TSMC to expand here is offense - defense is making sure that neither TSMC nor any other company sells our most sophisticated technology to China and violates our export controls,&#34; Raimondo said, adding she was not saying TSMC had committed any violations.</p><p>&#34;We take national security seriously and we look into every potential problem, whether it&#39;s with companies we subsidize or not,&#34; she added.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Finalizes $6.6 Billion Chips Award for TSMC Ahead of Trump Return</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Finalizes $6.6 Billion Chips Award for TSMC Ahead of Trump Return\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-11-15 18:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>WASHINGTON, Nov 15 (Reuters) - The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co&#39;s U.S. unit for semiconductor production in Phoenix, Arizona.</p><p>The binding contract - after a preliminary agreement announced in April - is the first major award to be completed under the $52.7 billion program created in 2022.</p><p>It comes just weeks before President-elect Donald Trump, who criticized the program, takes office.</p><p>In April, TSMC 2330.TW agreed to expand its planned investment by $25 billion to $65 billion and to add a third Arizona fab by 2030.</p><p>The Taiwanese company will produce the world&#39;s most advanced 2 nanometer technology at its second Arizona fab expected to begin production in 2028. TSMC also agreed to use its most advanced chip manufacturing technology called &#34;A16&#34; in Arizona.</p><p>&#34;When we started this there were a lot of naysayers who said maybe TSMC will do 5 or 6 nanometer in the United States,&#34; Commerce Secretary Gina Raimondo said in an interview. &#34;Actually they are doing their most sophisticated chips in the United States.&#34;</p><p>The TSMC award also includes up to $5 billion in low-cost government loans. Under the agreement, TSMC will receive cash as it meets project milestones. Commerce expects to release at least $1 billion to TSMC by year end, a senior official told reporters.</p><p>TSMC agreed to forgo stock buybacks for five years - subject to some exceptions - and share any excess profits with the U.S. government under an &#34;upside sharing agreement.&#34;</p><p>TSMC CEO C.C. Wei said in a statement the deal &#34;helps us to accelerate the development of the most advanced semiconductor manufacturing technology available in the U.S.”</p><p>Congress in 2022 approved the Chips and Science Act to boost domestic semiconductor output, which Raimondo called essential to getting TSMC and other chips investment. No leading edge chips are currently produced in the United States.</p><p>&#34;It didn&#39;t happen on its own... We had to convince TSMC that they would want to expand,&#34; Raimondo said, adding officials also had to convince American companies to buy U.S. made chips. &#34;The market does not price in national security.&#34;</p><p>Commerce has allocated $36 billion for chips projects including $6.4 billion for Samsung 005930.KS in Texas, $8.5 billion for Intel INTC.O and $6.1 billion for Micron Technology MU.O. Commerce is working to finalize those agreements before Biden leaves office on Jan. 20.</p><p>Reuters reported on Saturday Commerce ordered TSMC to halt shipments of advanced chips to Chinese customers.</p><p>Raimondo did not confirm the department issued a directive to TSMC but said the United States needs to play offense and defense with China.</p><p>&#34;Investing in TSMC to expand here is offense - defense is making sure that neither TSMC nor any other company sells our most sophisticated technology to China and violates our export controls,&#34; Raimondo said, adding she was not saying TSMC had committed any violations.</p><p>&#34;We take national security seriously and we look into every potential problem, whether it&#39;s with companies we subsidize or not,&#34; she added.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4529":"IDC概念","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","BK4575":"芯片概念","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4566":"资本集团","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","BK4535":"淡马锡持仓","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4515":"5G概念","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","BK4579":"人工智能","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4588":"碎股","BK4550":"红杉资本持仓","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU2048586759.USD":"ALLIANZ SMART ENERGY \"AT\" (USD) ACC","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","BK4532":"文艺复兴科技持仓","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","BK4554":"元宇宙及AR概念","BK4512":"苹果概念","BK4527":"明星科技股","BK4553":"喜马拉雅资本持仓","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","TSM":"台积电","BK4141":"半导体产品","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0056508442.USD":"贝莱德世界科技基金A2"},"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241115:nL1N3MM065:1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2483347973","content_text":"WASHINGTON, Nov 15 (Reuters) - 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.The binding contract - after a preliminary agreement announced in April - is the first major award to be completed under the $52.7 billion program created in 2022.It comes just weeks before President-elect Donald Trump, who criticized the program, takes office.In April, TSMC 2330.TW agreed to expand its planned investment by $25 billion to $65 billion and to add a third Arizona fab by 2030.The Taiwanese company will produce the world's most advanced 2 nanometer technology at its second Arizona fab expected to begin production in 2028. TSMC also agreed to use its most advanced chip manufacturing technology called \"A16\" in Arizona.\"When we started this there were a lot of naysayers who said maybe TSMC will do 5 or 6 nanometer in the United States,\" Commerce Secretary Gina Raimondo said in an interview. \"Actually they are doing their most sophisticated chips in the United States.\"The TSMC award also includes up to $5 billion in low-cost government loans. Under the agreement, TSMC will receive cash as it meets project milestones. Commerce expects to release at least $1 billion to TSMC by year end, a senior official told reporters.TSMC agreed to forgo stock buybacks for five years - subject to some exceptions - and share any excess profits with the U.S. government under an \"upside sharing agreement.\"TSMC CEO C.C. Wei said in a statement the deal \"helps us to accelerate the development of the most advanced semiconductor manufacturing technology available in the U.S.”Congress in 2022 approved the Chips and Science Act to boost domestic semiconductor output, which Raimondo called essential to getting TSMC and other chips investment. No leading edge chips are currently produced in the United States.\"It didn't happen on its own... We had to convince TSMC that they would want to expand,\" Raimondo said, adding officials also had to convince American companies to buy U.S. made chips. \"The market does not price in national security.\"Commerce has allocated $36 billion for chips projects including $6.4 billion for Samsung 005930.KS in Texas, $8.5 billion for Intel INTC.O and $6.1 billion for Micron Technology MU.O. Commerce is working to finalize those agreements before Biden leaves office on Jan. 20.Reuters reported on Saturday Commerce ordered TSMC to halt shipments of advanced chips to Chinese customers.Raimondo did not confirm the department issued a directive to TSMC but said the United States needs to play offense and defense with China.\"Investing in TSMC to expand here is offense - defense is making sure that neither TSMC nor any other company sells our most sophisticated technology to China and violates our export controls,\" Raimondo said, adding she was not saying TSMC had committed any violations.\"We take national security seriously and we look into every potential problem, whether it's with companies we subsidize or not,\" she added.","news_type":1,"symbols_score_info":{"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":1604,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":35,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}